Godrej's new refrigerator comes with FM, MP3 player

If you are a music buff and still haven't bought a refrigerator you may want to listen to this. Godrej Appliances has launched a music-enabled refrigerator, Godrej Edge SX MuziPlay, with FM radio and MP3 player. The refrigerator has additional facilities such as a mobile charging point with USB port.

According to the company, the refrigerator is endowed with 'silver ion freshness technology' that fights germs and ensures long lasting freshness.

The new product comes in two capacities, 183 litres and 221 litres, priced between Rs 12,690 and Rs 15,660.

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Before launching the product, Godrej Appliances conducted a market survey and found that while working in the kitchen housewives usually listen to songs either on their mobile phones or on their MP3 players.

This consumer insight encouraged the company to develop a product in the white goods space that doubles up as an entertainment station.

The music feature has been incorporated initially in the single-door version and will be extended to double-door refrigerators over a period of time.

Kamal Nandi, executive vice-president (marketing and sales), Godrej Appliances, says single-door refrigerators cater to the masses, or first-time buyers, while double-door refrigerators are usually bought by those who want to replace an existing fridge.

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To put things in perspective, India's refrigerator market stands at around 98 lakh units, of which 60 lakh units constitute sales of direct cool refrigerators, and the rest frost free.

LG is the market leader for refrigerators, followed by Samsung, Whirlpool and Godrej (18 per cent share). While the market for refrigerators is growing at 18 per cent a year, penetration levels in smaller town and cities are very low.

The company plans to target consumers across segments, with special emphasis on tier 2 and tier 3 cities.

Is the tier 2 and tier 3 consumer ready to shell out that extra buck for a single-door refrigerator only for its entertainment value? Nandi says she will because the premium is not that big. "A customer can use this facility by paying a premium of just Rs 1,000," he points out.

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In another two months the product is expected to reach all the 19,000 outlets of Godrej Appliances across the country.

Nandi adds that Godrej Appliances plans to expand its retail presence by opening around 3,000 outlets each year.

Godrej Appliances expects a 35 per cent growth in sales to Rs 2,700 crore (Rs 27 billion) this fiscal through a slew of initiatives, which include ramping up its presence in smaller cities and expanding its product portfolio.