With the increase in demand for home appliances, it is not surprising that the prices for the same are all set to rise in 2021. Read this article to know about the factors that are influencing the price.
The price of home appliances is set to rise in 2021. There are plenty of factors which are responsible for pushing up the prices. Some are economic factors, while others are due to the rise in medium and large-scale manufacturing costs.
Price alterations are common with home appliances. However, this year, the prices will go up. Let us try and understand the major reasons behind the forecasted price rise of home appliances. Customers will pay more for products like Whirlpool fridge. This brand is one of the most popular with products like the Whirlpool double door fridge.
- Increasing fuel cost – The rise in the price of fuel has put a burden on transportation and forwarding companies. Their logistical ecosystem is unable to transport goods at previous rates. Hence, they are forced to charge more for the transportation of home appliances. Naturally, retail outlets and e-commerce stores are forced to push prices.
- The increasing cost of manufacturing – The manufacturing cost of home appliances has gone up in the last few years. Naturally, this would affect the overall price quotient of home appliances. However, the price rise is not alarming and will not make consumer items beyond the reach of the average consumer. However, the buyers would have to bear the marginal rise.
- The increasing cost of raw materials – The raw materials being used to manufacture modern consumer appliances has increased over the last few years. This is another reason behind the rising cost of consumer appliances.
- Government policies and taxation – Government policies and taxation also play a major role in determining the price of consumer home appliances. The change in the taxation policy in the budget of 2021 is expected to influence the price of home appliances.
- Supply chain disruptions – The supply chain of major consumer appliance manufacturers has been disrupted due to the pandemic. The delayed and interrupted supply chains have pushed up manufacturing costs significantly.
Despite the predicted price rise, you can easily purchase your favorite items like the Whirlpool fridge from the EMI Store. Bajaj Finserv EMI Store offers a world of home appliances and electronic goods at attractive EMIs for items like Whirlpool double door fridge. Plus, you can avail of these offers without making any down payment. The EMI Network Cardholders are also entitled to a world of benefits like personal loans, home loans, business loans, credit cards, and educational loans.