Lloyd Targets 50% Growth in Mass Premium Market

Havells’ consumer durables brand, Lloyd, is charting a course for significant growth in the Indian market by strategically prioritizing the mass premium segment. The company anticipates this strategic move to be a game-changer, propelling the mass premium segment to contribute a remarkable 50% to its overall growth trajectory in the coming years.

Capturing the Value-Conscious Consumer

Currently, the mass premium segment represents a significant 30% of Lloyd’s overall growth, as highlighted by Alok Tickoo, the company’s Executive Vice President. This shift in focus towards mass premium appliances signifies Lloyd’s intention to target a customer segment that prioritizes a balance between affordability and high-end features. By strategically catering to this value-conscious demographic, Lloyd is well-positioned to tap into a rapidly growing market segment within the Indian consumer base.

Industry Reports on Mass Premium Appliance Growth

According to a recent report by Hindi research firm specializing in consumer durables in India, the mass premium segment in India’s consumer durables market is expected to witness a CAGR (Compound Annual Growth Rate) of over 15% for the next five years. This translates to a projected market size exceeding ₹ 2 lakh crore by 2027, up from an estimated ₹ 1.3 lakh crore in 2023. This significant growth is attributed to factors such as rising disposable incomes of over 10% in urban areas, increasing urbanization with a projected metro population reaching 60 crore by 2030, and growing aspirations for premium features at accessible price points.

Boosting ‘Make in India’ with Increased Production Capacity

Lloyd’s strategic direction aligns perfectly with the Government of India’s ‘Make in India’ initiative. The company recently inaugurated a new state-of-the-art air conditioner manufacturing plant in Sri City, situated near Chennai. This additional facility, combined with the existing one in Ghiloth, significantly bolsters Lloyd’s production capacity. As per industry estimates, this expansion enables them to produce an additional 1 million ACs annually, effectively meeting the burgeoning demand for mass premium appliances within the Indian market.

Cementing a Leadership Position in AC Manufacturing

The focus on mass premium appliances and the establishment of the new manufacturing plant are strategic maneuvers designed to solidify Lloyd’s position as a frontrunner in India’s AC manufacturing landscape. The company has already achieved an impressive feat by increasing its annual production capacity to two million units. Furthermore, they possess the potential to scale up production to a staggering 2.4 million units, effectively catering to the anticipated surge in demand for mass premium air conditioners.

Beyond ACs: A Holistic Mass-Premium Play

It’s important to note that Lloyd’s focus on mass premium appliances extends beyond just air conditioners. The company plans to introduce new ranges of refrigerators, washing machines, and QLED TVs within the mass premium segment. This diversified product portfolio caters to a wider range of consumer needs and positions Lloyd as a one-stop shop for value-conscious buyers seeking feature-rich appliances at a price point between ₹ 15,000 and ₹ 30,000.

Positioned for Exponential Growth

Lloyd’s strategic shift towards mass premium appliances underscores a well-calculated approach to capitalize on a rapidly growing market segment in India. By offering a compelling blend of affordability and premium features within their appliances, Lloyd is poised for exponential growth in the years to come. This strategic move positions them to become a household name synonymous with quality and value within the Indian consumer durables market, competing with established players like Voltas, Whirlpool, and Samsung in the mass premium segment.

Recent Blog : Onion Export Ban Removal Demanded by Farmers

Share:

MORE STORIES

## Navigating the AI Revolution: 5 Trending Google Ads Topics for Marketers As Google Ads continues its rapid evolution, staying ahead of the curve is paramount for digital marketers. The platform’s increasing reliance on artificial intelligence, shifting privacy landscapes, and the introduction of new campaign types are creating a fresh set of challenges and opportunities. Here are five top trending blog topics that delve into the most critical areas of Google Ads today. ### 1. The Rise of the Machines: Mastering AI-Powered Campaign Types Google is unequivocally betting on AI to drive the future of its advertising platform. A key area of focus for marketers is understanding and mastering AI-driven campaign types like Performance Max and Demand Gen. These campaigns automate targeting, bidding, and ad creation across Google’s entire inventory. A deep dive into strategies for providing the right inputs to these “black box” models, interpreting their performance, and understanding how to guide the AI for optimal results is a crucial topic for advertisers looking to succeed in this new era. ### 2. Beyond the Click: Navigating the New Landscape of Measurement and Attribution With the impending deprecation of third-party cookies and a growing emphasis on user privacy, the way advertisers measure success is undergoing a fundamental shift. This has propelled topics like enhanced conversions, consent mode, and the integration of first-party data to the forefront. Marketers are actively seeking guidance on how to implement these privacy-centric measurement solutions to gain a more accurate and holistic view of their campaign performance in a world without granular user tracking. ### 3. Creative is the New Targeting: Leveraging AI for Compelling Ad Experiences In an automated world, the creative has become a key differentiator. Google is investing heavily in AI-powered tools that can generate and optimize ad copy, images, and videos. Blog posts that explore how to effectively use these generative AI features to create a high volume of diverse and engaging ad creatives are gaining significant traction. This includes best practices for providing creative inputs, A/B testing AI-generated assets, and ensuring brand consistency across automated campaigns. ### 4. The Evolution of Search: Adapting to a More Conversational and Visual SERP The traditional keyword-based search is evolving. Users are increasingly employing longer, more conversational queries, and Google is responding with a more visual and AI-driven search engine results page (SERP). This shift requires a re-evaluation of traditional keyword research and bidding strategies. Trending discussions revolve around how to adapt to this new reality, including the role of broad match keywords, the importance of high-quality creative in visual search formats, and strategies for capturing intent in a more conversational search landscape. ### 5. Future-Proofing Your Strategy: The Growing Importance of a Full-Funnel Approach As automation takes over many of the manual levers within Google Ads, the focus is shifting towards a more strategic, full-funnel marketing approach. Advertisers are looking for insights on how to effectively use different Google Ads campaign types to guide users through the entire customer journey, from initial awareness to final conversion and retention. This includes discussions on how to structure campaigns to complement each other, allocate budgets across the funnel, and measure the impact of upper-funnel activities on bottom-line results.

Google Ads is in the midst of a quiet revolution—one driven by artificial intelligence, privacy-first regulations, and a rapidly changing search landscape. For digital marketers,

Send Us A Message