MySmartPrice, India’s leading gadget research website across categories, continues to delve deeper into consumer behaviour, buying patterns, after-sales trends and more. In the MySmartPrice Home Appliance Satisfaction Study 2024, we aim to look at what’s happening in the home appliances category in India.
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We asked more than 10,000 people about their refrigerator questions such as which brands they use, the type of refrigerator they use, where they bought their refrigerators, how satisfied are they with their purchase, how satisfied are they with customer support and more. Let’s dive deep into the refrigerator market in India, according to the MSP Home Appliances Survey 2024.
Ownership Trends in Refrigerators
Samsung and LG have the highest market share
- From the MySmartPrice survey, the most popular brand among users is Samsung with a 26.2% market share. It is followed by LG with a slightly lower market share of 25.5%.
- The third biggest brand is BPL with a market share of 6.4%, making the refrigerator market an almost duopoly.
- The fourth biggest brand is Whirlpool at 5.8%, Godrej at 5% and Haier at 4.9%.
Single-door refrigerators are the most preferred refrigerators
- According to the MySmartPrice survey, Single door refrigerators are the most popular among users with a share of 57.5%.
- Double-door refrigerators are the second most used refrigerators with a share of 29.8%.
- Triple-door refrigerators and side-by-side refrigerators are part of the minority with 7.2% and 5,5% market share respectively.
Almost half of the people have owned their refrigerator for less than 3 years
- 26.9% of the people surveyed said that their refrigerator is less than a year old.
- Almost a similar number of people, 24.2% of people said that they have owned their refrigerators for 1 to 3 years.
Buying Trends in Refrigerators
Almost 65% of people bought their refrigerators from offline stores
- As per the survey, 65.6% of people bought their refrigerators from offline stores. Of that, 34.9% of people bought it from small or local stores and 30.7% of people bought it from large offline stores such as Reliance Digital, Croma, etc.
- Interestingly, 11.7% of people bought from online brand stores of brands such as Samsung.com, WhirlpoolIndia.com, etc. which is more than the 8% of people who said they bought it from traditional E-commerce stores such as Amazon and Flipkart.
More than 50% of people have some kind of insurance or protection plan
- 35.6% of people said that they have an extended warranty plan, while 15.6% of people said that they have an AMC plan. 10% of people have said that they have a damage protection plan.
- Interestingly, 38.8% of people said that they don’t have any kind of insurance or protection plan.
After-Sales Trends in Refrigerators
LG users are the most satisfied with their refrigerator
- User satisfaction score is an important metric; we asked the users if they were satisfied with their refrigerators or not.
- LG is leading the charts of customer satisfaction with 88.91% of the people with LG refrigeration satisfied with their purchase.
- It is followed by Whirlpool at 88.57% and then Samsung at 85.23%.
Samsung users faced the least number of issues with their refrigerator
- The frequency of issues is another metric you’ve to look at before buying a refrigerator. We asked the people if they’ve faced an issue or not with their refrigerators.
- As per the survey, 59.59% of Samsung refrigerator users said that they did not face any issues with their refrigerators.
- The list is followed by LG, of which, 58.83% of people said that they did not face any issues, while 57.38% of Bosch users and 54.29% of Whirlpool users said they didn’t face any issues.
It’s the easiest to complain with LG’s service centre
- Another important metric from the survey is the easiness of complaining with the service centre. Interestingly, only two brands feature a percentage of more than 80% in this metric.
- 81.17% of the people in the MSP survey said that it is easy to lodge a complaint with LG. It is followed by Bosch, with 80.33% of people mentioning it is easy with the Bosch service centre.
- Samsung is the third here with a percentage of 76.16% and Voltas Beko at fourth with 75%.
LG has the best technician response time
- To learn more about the service support of the refrigerator brands, we asked the users about the technician response time, asking if the technicians visited within 1 day of raising a complaint.
- LG comes first in this metric, with 64.01% of people saying that the technician visited them within a day of raising the complaint.
- Bosch comes close second, too close, with 63.93% of the users saying that the technician visited within a day.
- The percentage of people saying that technicians came within a day of registering a complaint falls off quickly with the rest of the brands, as the third best brand in this metric is Videocon, as it sits at 52.17%, Sansui the fourth with 47.62%, Croma the fifth at 47.54%.
8 in 10 Croma and Bosch users say that the brand’s technicians are competent
- Next, we asked the people if their brand’s technicians were competent. We asked the people about how many of them thought that the brand’s technicians were competent.
- 81.97% of Croma users said that the brand’s technicians were competent, which is followed by Bosch at 80.33%.
- LG comes third with 77.66%, Whirlpool comes fourth with 77.14%.
Whirlpool has the best after-sales service and support
- We asked the people about if they were satisfied with after-sales service and support.
- Whirlpool has the best after-sales service and support, with 40.00% of people satisfied with them.
- Voltas Beko is very close, with 39.991%, followed by LG at 38.97%.
Brand Loyalty for Refrigerators
LG has the highest brand loyalty
- Customer loyalty is important. It shows the likelihood of customers buying from the same brand again. It is an important metric for brands as well, as they want their customers to buy their products again and again. So we asked the users about whether they’d buy from the same brand again or not.
- LG has the highest percentage of customers, i.e., 75.56% of users said that they’d buy an LG refrigerator again.
- IFB comes second with 72.50%, and Croma the third at 72.13%.
We hope you got a much closer look at the refrigerator category in India. Let us know your insights in the comments below!
