Consumer appliance company Godrej and Boyce (GBMCL) will soon roll out customised colour and design selection for online buyers across its product range keeping at par with the global trends, a company official said Thursday.
"Internationally there are companies who are offering customized selection of colours and designs. By mid 2015, we will come up with this feature too at a little extra cost," the company's executive vice president and business head Kamal Nandi told media persons here.
The company, previously had undertaken the same initiative for the World Series appliances printing customised decals for the consumers. However, it did not pick up well due to physical limitations.
"This is the first time we are doing it on the digital platform and to my knowledge there isn't anybody who is doing is," said Nandi.
He said online sales in the appliances industry has picked up by seven to eight percent over the last ten years and this trend will continue.
"Online sales comprises approximately two percent of our revenue and is expected to grow by seven to eight percent. By middle of 2015, we will come up with a new e-commerce website which will offer product customizations in colour and design," he said.
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The company will be piloting the customisation project in April this year and by June it expects to complete a study for the project post which it will be rolled across.
Besides, the company is keen to target the premium segment and is coming up with new refrigerators to take on competition from South Korean companies which are its major competitors.
"We are keen to enter the premium segment and will be coming up with new products this year. There will be toughened glass doors replacing steel in refrigerators and other features as well," said Nandi.
Besides, the company has also planned an array of other refrigerator launches in the coming three months.
Nandi said the market size of premium refrigerators comprises 15 percent of the total size where the company is absent. The air-conditioner premium market is five percent of the total size.
"We do not have products above 400 litres (in fridges)", he said.
GBMCL will focus on washing machines and air-conditioners for the mass market this year and expects to increase revenues from these by 17-18 percent in the coming fiscal year.
The company is expecting to close the current fiscal at Rs.3,000 crore revenue.
"Until now in the current fiscal, our growth has been 43 percent by value and 35 percent by volume," he said.
The northern market contributes nearly 40 percent of its turnover while it has grown exponentially in the eastern markets which contributes 15 percent to the revenue.
Its main income source is from urban and metro areas which contributes 65 percent across 35 major cities and towns while 35 percent of the remaining revenue comes in from tier 2 cities and towns.