Sales of induction stoves have surged in the last few days at offline retail outlets and online platforms amid fears of a shortage of LPG gas cylinders, triggered by the West Asia conflict. Panic buying is also happening amid an acute shortage of commercial gas cylinders and a surge in price of LPG cylinders by Rs 60 last week. Many consumers view induction cooktops, which uses electricity efficiently, as an alternative to cooking gas, prompting the move to buy them in these challenging times, experts said. The shift from a ‘kitchen upgrade’ to a ‘survival necessity’ was also leading to a surge in sales, they said.
Top executives at Vijay Sales and Croma said that average daily sales of induction cooktops had increased by nearly three times the usual level in the last two-three days as consumers rushed to shield themselves from a perceived shortage of domestic gas cylinders.
A spokesperson for Amazon India said that sales of induction cooktops had surged over 30x (30 times) in the last two days on the platform. Rice cookers and electric pressure cookers were seeing a 4x (four times) surge. Air fryers and multi-use kettles wee seeing a 2x (two times) increase in sales over a regular day. “Customers are using Amazon Now to get similar products within minutes in parts of Delhi-NCR, Mumbai and Bengaluru,” the spokesperson for Amazon India said.
30x Surge
A Flipkart spokesperson said that sales volumes had quadrupled over the last 4-5 days versus the preceding 3-4 weeks. On quick commerce platforms, the increase in sales had been 25x (25 times) this week versus last week, a senior executive at a quick commerce platform told FE, declining to be named.
Scale of Demand
“Sales of induction cooktops have jumped 3x (three times) in the last two days and we see the trend on till stocks last,” Nilesh Gupta, managing partner and director, Vijay Sales, said. He declined to comment on how long his stocks would last, but some dealers that FE spoke to said that retailers such as Vijay Sales may see stockouts in the next few days as some consumers are buying in bulk, as energy supply chains remain disrupted as the war in the Middle East continues to rage for nearly two weeks.
Shibashish Roy, CEO and MD, Infiniti Retail, which runs Croma stores, said the surge in sales was sharp and immediate. “Our average daily run rate has increased significantly for induction cooktops. Interestingly, we are seeing customers purchase multiple units at a time, which was not common earlier, indicating some precautionary buying. Alongside induction cooktops, we are also witnessing a rise in demand for electric kettles, with sales nearly doubling compared to the regular run rate,” Roy said.
Roy also said that his firm was ensuring adequate availability across its stores and online channels to meet demand as adoption of electric cooking solutions among urban households grows.
The Flipkart spokesperson said that some cities such as Delhi, Kolkata, and markets such as Uttar Pradesh had seen even higher spikes as consumers hedge against future price volatility.
“We’re also seeing a massive surge in other categories like electric cookers, kettles, and air fryers. This spike is expected to continue increasing with each passing day,” the Flipkart spokesperson said.