BWI: Energy Efficiency Labels impact Purchasing Decision of Consumer Durables, finds a New Survey by Market Xcel

Press release from Business Wire India
Source: Market Xcel
Tuesday, September 27, 2011 02:38 PM IST (09:08 AM GMT)
Editors: General: Consumer interest; Business: Business services, Energy companies, Household & personal care products & services
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Energy Efficiency Labels impact Purchasing Decision of Consumer Durables, finds a New Survey by Market Xcel


New Delhi, Delhi, India, Tuesday, September 27, 2011 -- (Business Wire India) -- A recent study conducted by Market Xcel Data Matrix Pvt. Ltd., one of the leading market research firms, reveals that Energy Efficiency Labels play a major role in the purchasing decision of consumer durables. The study throws light on the awareness, understanding and attitude of the respondents towards Energy Efficiency (EE) labels on consumer durables. Furthermore, the study reveals the penetration of consumer durable products and brand association with consumer durables.

Speaking on the revelations of the survey, Mr. Vishal Oberoi, CEO of Market Xcel said, "Domestic energy consumption in India is on the rise and significantly affecting the environment. The need-of-the-hour is to improve efficiency of consumer durables and for this energy labels are recognized as a clear and trusted source of information. There is a significant rise in the importance of Energy Efficiency (EE) labels in India, and our study reinforces this point highlighting consumers' awareness, attitude and reasons for considering EE labels during purchases."

Some major findings of the survey are enumerated below:

-- Amongst the 1238 respondents who were a part of the survey, the penetration of ceiling fans, tubular florescent lamps (TFL) and color televisions is close to 100% compared to 11% penetration in air conditioners and 6% in case of laptops.

-- Through this consumer perception survey, LG emerged as the leading brand in consumer durables followed by Whirlpool, Godrej and Samsung. Both LG and Samsung dominate the mass market in color televisions, Philips dominating the TFL market and Dell & HP are the two major players in PC (Desktop + Laptop) market.

-- On an overall basis, the awareness of EE labels is 51%; with more awareness in Western (65%) and Northern (62%) India.

-- 65% of the aware respondents considered EE labels while making their last purchase, reason being it 'saves electricity bill' and 'energy conservation'.

-- 4 out of 5 respondents are willing to consider EE labels during their purchase owing to the 'Money Savings' factor, followed by the intention to 'Save Energy'.

-- The most associated product with energy efficiency labels is Refrigerator. Washing machines, Color TV and Air conditioners are other associated products

-- BEE is considered majorly as governing (44%) and advertising (40%) body behind Energy labeled products.

-- Television emerges as the primary source of information for EE labels for most of the respondents. Print advertisement, informative articles and word of mouth are the subsequent sources of information.

Dr. Sandeep Garg, Energy Economist, Bureau of Energy Efficiency (BEE) sharing his views on the survey, "In India the awareness of EE labels has risen substantially from 0.5% in 2008 to 15% in 2011. EE labels are now sought out by consumers and play a crucial role while purchasing consumer durables. The survey helps in raising public awareness on EE labels and its impact on consumer buying decisions."

The survey is predominantly aimed to generate a report and create awareness amongst the masses, through valid and market research-based techniques. The research was conducted through quantitative survey using a structured research instrument with scope to capture responses by a face-to-face interaction. The target group (1238 respondents) represented both male and female in the age group of 15-49. The survey took into consideration both metros and sub-metros across SEC A, B and C categories. The 12 cities which were part of the survey are Delhi, Mumbai, Bangalore, Kolkata, Chennai, Pune, Jaipur, Ahmedabad, Hyderabad, Guwahati, Lucknow and Patna.

About Market Xcel

Market Xcel delivers tailor made solutions in the field of personalized research. The strong background of the leadership team and the employees allows Market Xcel to deliver services with distinction and partner our clients to help them develop closer insight into emerging customer and market behavior. Established in the year 2000 Market Xcel today offers facilities for coordinating research throughout India, with its presence in Mumbai, Delhi, Bangalore & Kolkata and a network of field offices in 10 cities across the country. In a decade long experience Market Xcel has worked extensively in sectors like Automotive, Healthcare & Pharma, Information & Technology, Telecom, FMCG, Retail, Banking & Finance, Media and Social Rural. The strength of Market Xcel lies in fully integrated operations focusing on the perennial needs of clients thus delivering localized, cost effective & client centric solutions.


CONTACT DETAILS
Madhavi, 20:20 MSL, +91 9810788188, madhavi.kochar@2020msl.com
Sayan, 20:20 MSL, +91 9910540773, sayan.banerjee@2020msl.com

KEYWORDS
CONSUMER, BUSINESS SERVICES, ENERGY, HOUSEHOLD

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