KARACHI: Despite concerns over rising inflation and living costs, the sale of refrigerators and deep freezers has increased sharply ahead of Eidul Azha in Karachi.
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Dealers say strong consumer demand, especially for storing sacrificial meat, has pushed sales significantly higher compared to last year.
Refrigerator and Freezer Sales Rise 30%
Finance Secretary of the Karachi Electronic Dealers Association Sohail Malik said refrigerator and deep freezer sales rose by 25 to 30 per cent during the Eid season.
However, he noted that airconditioner sales remained almost unchanged compared to last year.
According to Malik, many families purchased new cooling appliances to safely preserve Qurbani meat for several months.
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Before the Eidul Azha moon sighting, consumers mainly purchased airconditioners due to the intense summer heat.
However, demand quickly shifted towards refrigerators and deep freezers after the moon sighting.
Because of the heavy rush, many electronics markets now remain open until 1:30am. Most customers also visit shopping areas during the evening hours.
Prices Remain Stable Despite Demand
Dealers said prices of cooling appliances have remained stable despite rising demand.
Malik explained that manufacturers and retailers still hold carryforward stock from last year. In addition, companies imported a large quantity of parts and kits earlier, which helped maintain supply levels.
He also said stability in the rupee-dollar exchange rate helped manufacturers control production costs.
Appliance Lifespan Continues to Decline
According to Pak Elektron, the average lifespan of refrigerators now stands at around 10 years, while airconditioners typically last six years.
The company estimates Pakistan’s total appliance market value at nearly Rs328 billion.
Industry Expects Strong Growth
A report by BMA Capital stated that Pak Elektron currently holds a 17 per cent share of Pakistan’s refrigerator market.
The report projected refrigerator sales to grow by 20 per cent in 2026 due to lower inflation, economic stability, reduced interest rates and improved consumer financing.
Similarly, deep freezer sales may also rise by 20 per cent next year.
Lower Interest Rates Support Consumer Buying
Analysts believe lower financing costs will further support appliance sales across Pakistan.
The six-month KIBOR benchmark rate has already dropped from 24.71 per cent in September 2023 to nearly 11.5 per cent.
Experts say easier instalment plans and improved rural incomes may encourage more middle-income households to purchase appliances.
Meanwhile, rising temperatures and increasing urbanisation are also expected to boost long-term demand for cooling products.
