In very general terms, please tell us what impact did the COVID-19 lockdown have on the overall business of Panasonic Life Solutions India, and on the wiring devices business in particular. Are things returning to pre-COVID times?
The COVID-19 lockdown had brought businesses to a standstill, leading to a huge impact on the manufacturing sector. The shortage of raw materials and components across industries has immensely affected the local players, which have directly impacted the supply chain process and have levied the entire load on national players.
We resumed work at our manufacturing units in the second half of May 2020, post which the business was able to pick up at substantial pace. Although labour constraints continue to affect the sector and are slowly resolving now, we have managed to implement seamless functioning across all our manufacturing units and offices. Even with lockdown relaxations and alteration in the guidelines, there are still restrictions imposed in the majority of the metro and Tier-1 cities that have majorly impacted the market share.
Taking this situation as an opportunity, Panasonic Life Solutions India is working towards expanding its reach in Tier-3 and Tier-4 cities that has led to a significant increase in sales and acceptance in these markets. With new avenues of growth, we expect substantial progress in the near future. However, we see that normalization will take another 3-6 months due to the continued labour shortage and market limitations.
“Panasonic Life Solutions India is working towards expanding its reach in Tier-3 and Tier-4 cities.”
We note with great interest that Panasonic Life Solutions, in fact, made some new product launches, the ZIVA in particular, during these COVID-19 times. Please tell us about the rationale in launching ZIVA when you already have a wide range of modular brands like Penta, Woods, Rider, etc.
We will continue to bring in new range of products in the market built with exclusive features, elegant designs, top-class performance combined with enhanced safety and affordable prices. The launch of the Ziva range focuses more on customers who are looking for the best in class products that are safe and are available at affordable prices. Earlier, many customers who wanted to buy branded products were forced to buy local makes due to limitations in the pricing; these products were cheap in terms of both pricing and quality. At PLSIND, we took it as a responsibility to provide customers with safe and elegant products at their expected price point.
Ziva is a complete range in itself comprising of switches, sockets, fan regulators, beautiful plates in white and many other vibrant colors, and other accessories including TV socket, telephone socket, etc. In consideration of the current market scenario and several government initiatives introduced for budget housing, the ZIVA range is well poised to support the ‘Pradhan Mantri Awas Yojana’ initiative. We expect high demand for economy modular segment switches that will witness a rise in demand from here onwards.
“We expect high demand for economy modular segment switches”.
Additionally, with initiatives undertaken by the government like building smart cities and providing housing for all in the country, we further expect a boost in demand for smart devices that will fulfill the growing needs of customers. We have addressed these requirements by introducing a diverse range of products such as smart street lights, smart LED Wifi Bulb, KNX solution, smart doorbells, smart plugs and switches under the IoT and AI-enabled platform – Miraie, based on the customer desires and preferences. As a market leader in the electrical wiring devices, we foresee a world in which IoT and AI-enabled electrical and electronic devices will become the norm.
How will ZIVA be positioned in your brand hierarchy, especially with respect to Penta non-modular and Penta modular?
Keeping in line with our direction to offer products and solutions that deliver safety, comfort and convenience, we have introduced ZIVA at an affordable price for consumers who are willing to buy products, which promise superior quality, at a convenient price. We have positioned the Ziva range at the entry-level of modular range placed between the Penta non-modular and Penta modular products.
“Due to an increase in the disposable income and aspirations, consumers are willing to invest more in renovating their home to resonate with their personal style statement.”
Please discuss how the typical Indian customer is moving from non-modular to affordable modular, in terms of wiring devices.
Due to an increase in the disposable income and aspirations, consumers are willing to invest more in renovating their home to resonate with their personal style statement. Today, customers are ready to spend a good percentage of their budget on home interiors and, hence we are seeing a paradigm shift in customers upgrading from non-modular to affordable modular switches. Moreover, modular switches were always considered more expensive when compared to the non-modular ones. Hence, many customers have compromised on their desire to purchase beautiful switches that fit within their budget. With the Ziva range, customers will not face price limitations and will have a chance to upgrade from non-modular to modular category. We expect the modular product category to grow at a fast pace with the introduction of Ziva.
A number of companies, including Panasonic Life Solutions, have launched antimicrobial wiring devices. While this is very relevant in light of the pandemic, do you think such antimicrobial treatment could be the norm in future, at least for premium brands?
The antimicrobial product range will be a game-changer for future building designs that will make people feel safe and comfortable. Panasonic Life Solutions India has constantly strived to deliver best in class wiring devices solutions for commercial and residential premises. In these challenging times, the introduction of antimicrobial/antibacterial products is a definitive upgrade that facilitates a healthy lifestyle for everyone.
What inspired the recent launch of smart products like spike guards, extension sockets, etc? Is it the evolving work-from-home culture?
Tell us in particular about the wireless charging devices. How do you see the prospects in the Indian market, given that they are really “premium products” at this stage, and would definitely come at prices substantially higher than conventional counterparts?
Coming back to the new launch, how has the market response to ZIVA been so far? What are your expectations from ZIVA in terms of setting new paradigms in the wiring devices market?
We expected high demand for this product range, therefore we launched Phase 1 of Ziva in selected states and are looking forward to launching it phase-wise across India. Presently, the product has been launched in three states — Kerala, Andhra Pradesh and Karnataka, and we have received encouraging response in terms of demand. The demand is much more than expected and we expect it to continue to rise in the near future. With the introduction of the Ziva series, we aim to provide a better experience and higher standard of living for all and look forward to connecting better with consumers by delivering the best in class products in the wiring devices segment.
