Highlights
- Panasonic aims to reduce CO2 emissions by 300 million tons by 2050.
- Launch of India’s first Matter-enabled Room Air Conditioners.
- Integration of Prime Fresh technology in refrigerators for prolonged freshness.
- Expansion of Miraie platform for connected living solutions.
In a recent interview with Mr. Fumiyasu Fujimori, Managing Director of Panasonic Marketing India and Panasonic Life Solutions India (PLSIND), we explored Panasonic’s robust commitment to sustainability and innovation in the Indian market.
Mr. Fujimori highlighted Panasonic’s global environmental vision, Panasonic GREEN IMPACT, aiming to reduce CO2 emissions by 300 million tons by 2050.
He discussed the company’s cutting-edge products.
- Panasonic has been focusing on sustainability and circular economy initiatives globally. How is Panasonic India integrating these initiatives into its product offerings for the Indian market?
Our commitment to sustainability management is underscored by our mid to long-term environmental vision, Panasonic GREEN IMPACT, which prioritizes addressing global environmental challenges, particularly climate change.
By 2050, we aim to reduce CO2 emissions by at least 300 million tons, equivalent to approximately 1% of current global emissions.
Our brand motto “Create Today. Enrich Tomorrow” highlights our continued commitment to innovation, quality, reliability, and efficiency.
Over the years, we have cultivated a rich legacy in technological innovation and we remain devoted to develop and provide high-quality products and solutions that support people in their everyday lives as well as help improve their health and well-being.
As we evolve with our customers, we assure them of our commitment to delivering products that enrich their lifestyles and meet their needs.
We proudly introduce appliances with cutting-edge innovations and connectivity features.
Our smart homes include India’s first Matter-enabled Room Air Conditioners (RACs) powered by Miraie, featuring 7-in-1 convertible modes and AI functionality.
Technologies like ECONAVI optimize power consumption, while Twin Cool Inverter, Jetstream, Converti7, Aerowings, 4-Way Inflow, and nanoe-X and nanoe-G enhance cooling and ensure a cleaner indoor environment.
Our Refrigerators, equipped with Prime Fresh technology, offer time-saving features, flexi-expandable storage, and modes that ensure prolonged freshness and nutrient retention.
Panasonic Washing Machinesincorporate Kizukai technology, built-in Heater with StainMaster+ for removing bacteria and stains, and ECONAVI technology to monitor and analyze water and energy usage via Miraie.
Panasonic is committed to providing innovative solutions that align with sustainable practices, ensuring our products contribute to a better future.
- With the recent launch of the Matter-enabled Room Air Conditioners (RACs), how does Panasonic plan to expand its smart home solutions in India, and what other products can we expect in this segment?
In the post-COVID era, consumer preferences have shifted towards smart, connected, comfortable, and convenient appliances that enhance lifestyles while ensuring safety.
Our consumer insights reveal a growing demand for value-driven appliances that are easy to use and energy-efficient.
Recognizing this shift, we launched our Miraie platform a couple of years ago, which now boasts over 250,000 active users regularly logging in to control their appliances, with a significant portion being air conditioner users.
Our platform is designed to enhance consumers’ daily lives by providing comfort, convenience, and seamless connectivity across all Panasonic devices.
By tailoring the quality of living spaces to individual needs and ambient conditions, we aim to create a more intelligent and responsive home environment.
The innovation has been conceptualized and developed at Panasonic’s India Innovation Centre based out of Bangalore.
This range of connected products under the Miraie includes Air Conditioners, Smart Doorbells, and Plugs & Switches.
Through our regular consumer connect program, we discovered another powerful insight: with nearly all brands offering smart products, consumers were burdened with downloading and registering on multiple platforms.
To address this, we launched the world’s first Matter-enabled ACs, powered by our IoT and AI-enabled Miraie platform.
This allows users to seamlessly control and monitor ACs and a wide range of other smart appliances, regardless of the brand, as long as they are Matter-enabled.
With Miraie getting Matter-enabled, we’re committed to expand our connected ecosystem in the coming future to support this technology.
We are also planning to incorporate products from other brands to provide a more cohesive connected experience.
This integration will allow users to control all their Matter-enabled devices using the Miraie app, and conversely, users will be able to control Panasonic’s supported devices using compatible apps from other manufacturers.
- Given the diverse consumption patterns between urban and rural India, how is Panasonic tailoring its products to cater to these distinct markets?
Panasonic stands out as one of the few brands that cover nearly all consumer touchpoints, allowing people to engage closely with our products.
We extend beyond traditional distribution channels, including small dealers in tier II and tier III markets, as well as organized retail partners.
Moreover, our extensive network includes exclusive stores where customers can explore a wide range of Panasonic products.
Additionally, we have a strong presence on leading e-commerce platforms.
We also have an exclusive Panasonic direct-to-consumer portal, enhancing accessibility for customers to purchase and experience our products.
With the increasing consumer aspirations and purchasing power tier II and III cities are emerging as promising markets in driving sales and we expect this trend to continue throughout this year and beyond.
- Panasonic has ramped up local production with plants in Haryana for air conditioners and refrigerators. What are the future plans for manufacturing and local product development in India?
Over the past three decades, Panasonic has made significant strides in expanding the manufacturing capabilities.
In 2012, we established three factories in Haryana dedicated to manufacture washing machines, air conditioners, and industrial welding machines.
This expansion continued in 2015 with the opening of a factory in Haridwar, focusing on switches and wiring devices.
In 2018, we set up a refrigerator factory, and in 2021, we further extended our operations by inaugurating a factory in Sri City, aimed at serving both the Indian market and exporting electrical devices globally.
Our commitment extends beyond manufacturing, we prioritize innovation, conceptualizing and developing products tailored to meet the needs of the Indian market and beyond.
- Competition from home-grown and Chinese brands is intensifying in the Indian market. How does Panasonic plan to differentiate its products and maintain its market position?
Being a consumer-centric company, our recently commissioned study ‘Panasonic’s 2024 Young Parents Everyday Life Concerns, highlighted multifaceted considerations of consumers when it comes to making decisions for purchasing appliances.
Almost 60% young Indian parents are concerned about healthier lifestyles and food habits along with Hygiene.
The study spotlighted the focus on the demand for appliances that address essential lifestyle needs while providing energy efficiency and durability.
At Panasonic, we are dedicated to developing innovative appliances that promote the holistic well-being of consumers by seamlessly integrating advanced technology into daily life.
This year, Panasonic introduced 60 new models of inverter ACs from a wide range of 1.0, 1.5 and 2.0-ton models including the India’s first Matter-enabled RACs.
Matter is an open-source connectivity standard that enables seamless interoperability across smart devices.
It is powered by our IoT and AI-enabled platform Miraie that lets users seamlessly control and monitor ACs and a wide range of smart appliances.
By connecting with other Matter-certified devices and platforms, they will facilitate a smarter and more efficient use of energy, optimizing comfort while minimizing environmental impact.
Moreover, Panasonic ACs extend beyond basic cooling, i.e., indoor air hygiene, efficiency and technological integration (connectivity).
They are equipped with technologies such as nanoe-G and nanoe-X technologies, purifying indoor air quality by inhibiting PM 2.5 matter, bacteria, viruses, and moulds.
Consumers can benefit from this air purification feature all year without using the cooling mode.
Similarly, in line with our syndicated study, our refrigerators leverage technology maintain freshness, nutrition, and storage for a comparatively longer time.
Panasonic Refrigerators come with Prime Fresh technology that helps save cooking time, flexi-expandable storage, and flexi-modes of operation addressing top concerns of prolonged freshness, nutrient retention, and adequate storage needs.
The Prime Fresh Mode includes Pro-Marinate, Insta Cook, Tiffin Fresh, and Pro-Chill modes, preserving food freshness for up to 7 days while retaining nutrients and flavour.
Additionally, AI Econavi sensors and Inverter technology in refrigerators maximize energy savings, aligning with their desire for efficiency.
Furthermore, we are experiencing robust demand for our ACs this season, aiming for a 40% growth compared to the previous year.
Notably, 95% of our ACs sold are inverter models, reflecting the strong consumer preference for smart, energy-efficient solutions.
- Panasonic India has set ambitious revenue targets and growth plans. What specific strategies are being implemented to achieve these goals, especially in consumer durables and B2B segments?
The Indian residential air conditioning (AC) industry has been experiencing a surge in demand due to the prevailing heatwave, seen especially in the north.
With that in mind, the industry is expecting a prolonged summer season, thus, a continued demand for ACs and other summer appliances such as refrigerators too.
AC today is no longer an aspirational product but a necessity.
However, the penetration continues to be at approximately 7.5% in India.
This holds immense growth potential for the AC industry.
This season, we are expecting that the AC market shall grow by 25% over the season last year.
At Panasonic, we are looking to grow by 40% compared to the last AC season.
On the other hands, if we talk about B2B business our range of products and solutions spans across various industrial sectors, including servo motors, smart factory solutions, SMP machines, writing robots, and welding machines.
These segments have demonstrated consistent growth over time.
We believe there is immense growth potential across all these categories, particularly as the country’s infrastructure continues to expand, supported by increased capital expenditure allocations as seen in recent budgets.
At Panasonic, we anticipate that this strategic approach will persist, fostering a positive environment for the creation of opportunities within the country.
- How is Panasonic leveraging its innovation centre in Bengaluru to develop products specifically suited for Indian consumers, particularly in tier 2 and tier 3 markets?
In a time when IoT is ushering the next technological revolution, Panasonic forayed into connected living solutions with the launch of Miraie in 2020, an indigenously developed IoT & AI-enabled platform.
The platform aims to empower the everyday lives of consumers with comfort, convenience and seamless connectivity across all Panasonic appliances, delivering a truly connected living experience.
Since its launch, the Miraie has been integrated into Air Conditioners, Refrigerators, Televisions, Washing Machines, Wi-fi, fans, ROMA Smart digital switches, Smart doorbells and Wi-Fi controller Plugs and switches- amongst others.
With advanced AI features, it delivers timely notifications, troubleshoots problems, streamlines technician visits, and enhances the overall performance and lifespan of products, thus effectively reducing the total cost of ownership.
The intuitive platform helps recognize usage patterns and suggests optimal modes for appliances.
Moreover, since 2020, Panasonic’s Miraie App has been downloaded by over 6 Lakh consumers and is rated above 4.5 on iOS and Google Play.
The value that the platform is driving, for instance, is that 70% of installed room air conditioners (RACs) are on-boarded in Miraie, while over 72% of users are using the sleep profile function.
FAQs
What is Panasonic’s environmental vision and goal for CO2 emissions?
Panasonic’s environmental vision, Panasonic GREEN IMPACT, aims to reduce CO2 emissions by 300 million tons by 2050, addressing global climate change challenges.
What new products has Panasonic introduced in the Indian market?
Panasonic has introduced India’s first Matter-enabled Room Air Conditioners and refrigerators with Prime Fresh technology, enhancing smart home solutions and sustainability.
How is Panasonic expanding its smart home solutions in India?
Panasonic plans to expand its smart home solutions by integrating more devices into its Miraie platform, offering seamless control and connectivity for various smart appliances.
How is Panasonic catering to diverse markets in India?
Panasonic tailors its products for both urban and rural markets by using extensive distribution channels, including small dealers, organized retail partners, exclusive stores, and e-commerce platforms.
What are Panasonic’s future plans for manufacturing in India?
Panasonic is expanding its local production with plants in Haryana and Haridwar, focusing on developing innovative products tailored to the Indian market and enhancing manufacturing capabilities.
Also Read: Panasonic India launches a new range of Air Conditioners equipped with nanoeX technology
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