Consumer Durable Goods Outlook 2022: Kitchen Appliances, Premiumisation, Emergence of New Categories to Drive Growth: ICICI Securities

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Durable consumer goods companies reported higher margins in CY21E, despite high commodity inflation and supply chain constraints. Although there was some impact on revenues in the first half of CY21 due to the severe second wave of Covid-19 (April-June), demand returned stronger thanks to large vaccination campaigns across the countries during the second half of CY21.

The share of e-commerce in the channel mix has increased. In CY22, we model durable consumer goods companies to report stable year-over-year margins.

New categories such as trimmers, hairdryers and dishwashers would likely lead to strong volume growth. We model the durable consumer goods companies under our blanket to report income amid the teen numbers in CY22 YoY.

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Karl M. Bailey