Domestic Electrical Appliances in Venezuela
Euromonitor International's Domestic Electrical Appliances in Venezuela market report offers a comprehensive guide to the size and shape of the market at a national level. It provides the latest retail sales data, allowing you to identify the sectors driving growth. It identifies the leading companies, the leading brands and offers strategic analysis of key factors influencing the market - be they new product developments, packaging innovations, economic/lifestyle influences, distribution or pricing issues. Forecasts illustrate how the market is set to change.
Tables: 173 | Publication date: Jun 2009
Why buy this report
- Get insight into trends in market performance
- Pinpoint growth sectors and identify factors driving change
- Identify market and brand leaders and understand the competitive environment
Product coverage
Large kitchen appliances; Small electrical appliances
Executive summary
Slowing performance seen in the second half of 2008
After years of aggressive growth along with Venezuela’s oil boom, the domestic electrical appliance (DEA) market began to see slowing growth in the second half of 2008 as the world recession started to make its appearance in Venezuela. Oil prices took a significant dip from their high in July of 2008, and with consumer confidence shaken and interest rates rising in response to the difficult economy, the boom in domestic electrical appliances began to ebb towards the end of the year. The result was slowing growth across the board compared to the excellent results obtained in 2007.
Luxury items still doing well
Despite signs of a slowdown, the market for items that confer status on Venezuelan consumers continued to perform quite well throughout the year, with items such as electric wine coolers/chillers and other personal care appliances seeing the highest growth rates. With an economy heavily dependent on oil and the government in control of enormous funds, those with government connections are becoming a large up-and-coming consumer class that demands prestigious durable goods. This target market has made Venezuela a good destination for players selling more exclusive products that are not geared towards the general population, such as Cuisinart.
Government interest in DEA increases
Already a participant in the food retailing sector with large subsidies for purchases at government-run Mercal stores, the Venezuelan state is increasing its efforts to enter into the home appliance business. In late 2008 the government launched Reinita and Famosa brands of refrigeration appliances, laundry appliances and cookers through subsidized retailers in order to provide these items at low cost to Venezuela’s poor population. Whilst the products did not go over well in 2008 and so far have fallen short of the government’s expectations, there are plans to team up with Chinese multinational Haier in order to provide exclusive low-priced goods, likely assembled inside the country in order to encourage local manufacturing. However, as a result of the nature of Venezuelan consumers and challenges facing the government, these plans are unlikely to present a serious threat in the short term.
Difficult distribution distorts the Venezuelan market
With strict currency controls and a limited amount of dollars exchanged at the preferential rate for DEA importers, logistics continue to impose a significant burden on all players in the market. As of 2008 preferential treatment for products produced in Latin American countries was removed and altogether the cost and time spent bringing new products into the country has increased across the board. DEA players in Venezuela are finding that getting their products to market is as much of a challenge as competing in terms of marketing or product positioning, and the biggest players with experience dealing with the government are the beneficiaries.
Uncertain future for electrical home appliances
Although oil prices may well rebound and allow consumption in Venezuela to resume its frantic pace, the many uncertainties of the market, lack of investment in the country, and the strong role of the government in the country’s economy leave a great deal of uncertainty about what future performance will be. However, the most likely scenario is that the market is headed for continuing growth given the large reserves the economy holds in order to weather the current storm, combined with the continuing dependence of the world on oil and the likelihood that current policies will remain entrenched for the coming years. In addition, the large deficit of available housing for the population leaves a strong growth opportunity. As a result, conservative growth rates for the 2008-2013 forecast period are expected, but growth may be driven more by the new class of well-to-do consumers rather than the surging lower-middle class that characterized 2004-2008 review period.
Table of contents
DOMESTIC ELECTRICAL APPLIANCES IN VENEZUELA : MARKET INSIGHT
EXECUTIVE SUMMARY
Slowing performance seen in the second half of 2008
Luxury items still doing well
Government interest in DEA increases
Difficult distribution distorts the Venezuelan market
Uncertain future for electrical home appliances
KEY TRENDS AND DEVELOPMENTS
Volatile economy makes appliance performance uncertain
State intervention plans are being reformulated in the DEA market
Korean manufacturers appeal to tech-savvy Venezuelans
Increasing difficulty in getting to market
MARKET INDICATORS
Table 1 Household Penetration of Selected Total Stock Domestic Electrical Appliances by Sector/Subsector 2003-2008
Table 2 Replacement Cycles of Domestic Electrical Appliances by Sector 2008
MARKET DATA
Table 3 Sales of Domestic Electrical Appliances by Sector: Volume 2003-2008
Table 4 Sales of Domestic Electrical Appliances by Sector: Value 2003-2008
Table 5 Sales of Domestic Electrical Appliances by Sector: % Volume Growth 2003-2008
Table 6 Sales of Domestic Electrical Appliances by Sector: % Value Growth 2003-2008
Table 7 Sales of Large Kitchen Appliances by Sector and by Built-in/Freestanding Split: Volume 2003-2008
Table 8 Sales of Large Kitchen Appliances by Sector and by Built-in/Freestanding Split: Value 2003-2008
Table 9 Sales of Large Kitchen Appliances by Sector and by Built-in/Freestanding Split: % Volume Growth 2003-2008
Table 10 Sales of Large Kitchen Appliances by Sector and by Built-in/Freestanding Split: % Value Growth 2003-2008
Table 11 Company Shares of Large Kitchen Appliances 2004-2008
Table 12 Brand Shares of Large Kitchen Appliances 2005-2008
Table 13 Company Shares of Small Kitchen Appliances (Non-cooking) 2004-2008
Table 14 Brand Shares of Small Kitchen Appliances (Non-cooking) 2005-2008
Table 15 Large Kitchen Appliances by Distribution Format: % Breakdown 2003-2008
Table 16 Forecast Sales of Domestic Electrical Appliances by Sector: Volume 2008-2013
Table 17 Forecast Sales of Domestic Electrical Appliances by Sector: Value 2008-2013
Table 18 Forecast Sales of Domestic Electrical Appliances by Sector: % Volume Growth 2008-2013
Table 19 Forecast Sales of Domestic Electrical Appliances by Sector: % Value Growth 2008-2013
Table 20 Forecast Sales of Large Kitchen Appliances by Sector and by Built-in/Freestanding Split: Volume 2008-2013
Table 21 Forecast Sales of Large Kitchen Appliances by Sector and by Built-in/Freestanding Split: Value 2008-2013
Table 22 Forecast Sales of Large Kitchen Appliances by Sector and by Built-in/Freestanding Split: % Volume Growth 2008-2013
Table 23 Forecast Sales of Large Kitchen Appliances by Sector and by Built-in/Freestanding Split: % Value Growth 2008-2013
DEFINITIONS
Summary 1 Research Sources
LOCAL COMPANY PROFILES - VENEZUELA
INDARTELCA - DOMESTIC ELECTRICAL APPLIANCES - VENEZUELA
STRATEGIC DIRECTION
KEY FACTS
Summary 2 INDARTELCA: Key Facts
COMPANY BACKGROUND
PRODUCTION
COMPETITIVE POSITIONING
Summary 3 INDARTELCA: Competitive Position 2008
LG PANAMA - DOMESTIC ELECTRICAL APPLIANCES - VENEZUELA
STRATEGIC DIRECTION
KEY FACTS
Summary 4 LG PANAMA: Key Facts
COMPANY BACKGROUND
PRODUCTION
COMPETITIVE POSITIONING
Summary 5 LG PANAMA: Competitive Position 2008
MABE DE VENEZUELA - DOMESTIC ELECTRICAL APPLIANCES - VENEZUELA
STRATEGIC DIRECTION
KEY FACTS
Summary 6 MABE de Venezuela: Key Facts
COMPANY BACKGROUND
PRODUCTION
COMPETITIVE POSITIONING
Summary 7 MABE de Venezuela: Competitive Position 2008
OSTER DE VENEZUELA CA - DOMESTIC ELECTRICAL APPLIANCES - VENEZUELA
STRATEGIC DIRECTION
KEY FACTS
Summary 8 Oster de Venezuela CA: Key Facts
COMPANY BACKGROUND
PRODUCTION
COMPETITIVE POSITIONING
Summary 9 Oster de Venezuela CA Competitive Position 2008
PREMIUM DE VENEZUELA CA - DOMESTIC ELECTRICAL APPLIANCES - VENEZUELA
STRATEGIC DIRECTION
KEY FACTS
Summary 10 Premium de Venezuela CA: Key Facts
COMPANY BACKGROUND
PRODUCTION
COMPETITIVE POSITIONING
Summary 11 Premium de Venezuela CA: Competitive Position 2008
REFRIGERATION APPLIANCES IN VENEZUELA
HEADLINES
TRENDS
COMPETITIVE LANDSCAPE
PROSPECTS
SECTOR DATA
Table 24 Sales of Refrigeration Appliances by Subsector: Volume 2003-2008
Table 25 Sales of Refrigeration Appliances by Subsector: Value 2003-2008
Table 26 Sales of Refrigeration Appliances by Subsector: % Volume Growth 2003-2008
Table 27 Sales of Refrigeration Appliances by Subsector: % Value Growth 2003-2008
Table 28 Sales of Fridge Freezers by Format: % Breakdown 2004-2008
Table 29 Sales of Fridges by Format: % Breakdown 2004-2008
Table 30 Sales of Freezers by Format: % Breakdown 2004-2008
Table 31 Sales of Fridge Freezers by Volume Capacity: % Breakdown 2004-2008
Table 32 Sales of Fridges by Volume Capacity: % Breakdown 2004-2008
Table 33 Sales of Freezers by Volume Capacity: % Breakdown 2004-2008
Table 34 Sales of Electric Wine Coolers/Chillers by Format: % Breakdown 2004-2008
Table 35 Company Shares of Refrigeration Appliances 2004-2008
Table 36 Brand Shares of Refrigeration Appliances 2005-2008
Table 37 Company Shares of Freestanding Fridge Freezers 2004-2008
Table 38 Company Shares of Freestanding Fridges 2004-2008
Table 39 Forecast Sales of Refrigeration Appliances by Subsector: Volume 2008-2013
Table 40 Forecast Sales of Refrigeration Appliances by Subsector: Value 2008-2013
Table 41 Forecast Sales of Refrigeration Appliances by Subsector: % Volume Growth 2008-2013
Table 42 Forecast Sales of Refrigeration Appliances by Subsector: % Value Growth 2008-2013
HOME LAUNDRY APPLIANCES IN VENEZUELA
HEADLINES
TRENDS
COMPETITIVE LANDSCAPE
PROSPECTS
SECTOR DATA
Table 43 Sales of Home Laundry Appliances by Subsector: Volume 2003-2008
Table 44 Sales of Home Laundry Appliances by Subsector: Value 2003-2008
Table 45 Sales of Home Laundry Appliances by Subsector: % Volume Growth 2003-2008
Table 46 Sales of Home Laundry Appliances by Subsector: % Value Growth 2003-2008
Table 47 Sales of Automatic Washing Machines by Format: % Breakdown 2003-2008
Table 48 Sales of Automatic Washing Machines by Volume Capacity: % Breakdown 2005-2008
Table 49 Sales of AutomaticTumble Dryers by Format: % Breakdown 2004-2008
Table 50 Company Shares of Home Laundry Appliances 2004-2008
Table 51 Brand Shares of Home Laundry Appliances 2005-2008
Table 52 Forecast Sales of Home Laundry Appliances by Subsector: Volume 2008-2013
Table 53 Forecast Sales of Home Laundry Appliances by Subsector: Value 2008-2013
Table 54 Forecast Sales of Home Laundry Appliances by Subsector: % Volume Growth 2008-2013
Table 55 Forecast Sales of Home Laundry Appliances by Subsector: % Value Growth 2008-2013
DISHWASHERS IN VENEZUELA
HEADLINES
TRENDS
COMPETITIVE LANDSCAPE
PROSPECTS
SECTOR DATA
Table 56 Sales of Dishwashers by Subsector: Volume 2003-2008
Table 57 Sales of Dishwashers by Subsector: Value 2003-2008
Table 58 Sales of Dishwashers by Subsector: % Volume Growth 2003-2008
Table 59 Sales of Dishwashers by Subsector: % Value Growth 2003-2008
Table 60 Sales of Dishwashers by Format: % Breakdown 2004-2008
Table 61 Company Shares of Dishwashers 2004-2008
Table 62 Brand Shares of Dishwashers 2005-2008
Table 63 Forecast Sales of Dishwashers by Subsector: Volume 2008-2013
Table 64 Forecast Sales of Dishwashers by Subsector: Value 2008-2013
Table 65 Forecast Sales of Dishwashers by Subsector: % Volume Growth 2008-2013
Table 66 Forecast Sales of Dishwashers by Subsector: % Value Growth 2008-2013
LARGE COOKING APPLIANCES IN VENEZUELA
HEADLINES
TRENDS
COMPETITIVE LANDSCAPE
PROSPECTS
SECTOR DATA
Table 67 Sales of Large Cooking Appliances by Subsector: Volume 2003-2008
Table 68 Sales of Large Cooking Appliances by Subsector: Value 2003-2008
Table 69 Sales of Large Cooking Appliances by Subsector: % Volume Growth 2003-2008
Table 70 Sales of Large Cooking Appliances by Subsector: % Value Growth 2003-2008
Table 71 Sales of Cookers by Gas/Electric: % Breakdown 2003-2008
Table 72 Sales of Range Cookers by Format: % Breakdown 2003-2008
Table 73 Sales of Ovens by Standard/Multifunctional: % Breakdown 2003-2008
Table 74 Sales of Built-in Hobs by Format: % Breakdown 2003-2008
Table 75 Sales of Freestanding Hobs by Format: % Breakdown 2003-2008
Table 76 Company Shares of Large Cooking Appliances 2004-2008
Table 77 Brand Shares of Large Cooking Appliances 2005-2008
Table 78 Company Shares of Cookers 2004-2008
Table 79 Company Shares of Ovens 2004-2008
Table 80 Company Shares of Hobs 2004-2008
Table 81 Company Shares of Built-in Hobs 2004-2008
Table 82 Company Shares of Cooker Hoods 2004-2008
Table 83 Company Shares of Built-in Cooker Hoods 2004-2008
Table 84 Forecast Sales of Large Cooking Appliances by Subsector: Volume 2008-2013
Table 85 Forecast Sales of Large Cooking Appliances by Subsector: Value 2008-2013
Table 86 Forecast Sales of Large Cooking Appliances by Subsector: % Volume Growth 2008-2013
Table 87 Forecast Sales of Large Cooking Appliances by Subsector: % Value Growth 2008-2013
MICROWAVES IN VENEZUELA
HEADLINES
TRENDS
COMPETITIVE LANDSCAPE
PROSPECTS
SECTOR DATA
Table 88 Sales of Microwaves by Subsector: Volume 2003-2008
Table 89 Sales of Microwaves by Subsector: Value 2003-2008
Table 90 Sales of Microwaves by Subsector: % Volume Growth 2003-2008
Table 91 Sales of Microwaves by Subsector: % Value Growth 2003-2008
Table 92 Company Shares of Microwaves 2004-2008
Table 93 Brand Shares of Microwaves 2005-2008
Table 94 Microwaves by Distribution Format: % Analysis 2003-2008
Table 95 Forecast Sales of Microwaves by Subsector: Volume 2008-2013
Table 96 Forecast Sales of Microwaves by Subsector: Value 2008-2013
Table 97 Forecast Sales of Microwaves by Subsector: % Volume Growth 2008-2013
Table 98 Forecast Sales of Microwaves by Subsector: % Value Growth 2008-2013
FOOD PREPARATION APPLIANCES IN VENEZUELA
HEADLINES
TRENDS
COMPETITIVE LANDSCAPE
PROSPECTS
SECTOR DATA
Table 99 Sales of Food Preparation Appliances by Subsector: Volume 2003-2008
Table 100 Sales of Food Preparation Appliances by Subsector: Value 2003-2008
Table 101 Sales of Food Preparation Appliances by Subsector: % Volume Growth 2003-2008
Table 102 Sales of Food Preparation Appliances by Subsector: % Value Growth 2003-2008
Table 103 Company Shares of Food Preparation Appliances 2004-2008
Table 104 Brand Shares of Food Preparation Appliances 2005-2008
Table 105 Forecast Sales of Food Preparation Appliances by Subsector: Volume 2008-2013
Table 106 Forecast Sales of Food Preparation Appliances by Subsector: Value 2008-2013
Table 107 Forecast Sales of Food Preparation Appliances by Subsector: % Volume Growth 2008-2013
Table 108 Forecast Sales of Food Preparation Appliances by Subsector: % Value Growth 2008-2013
SMALL COOKING APPLIANCES IN VENEZUELA
HEADLINES
TRENDS
COMPETITIVE LANDSCAPE
PROSPECTS
SECTOR DATA
Table 109 Sales of Small Cooking Appliances by Subsector: Volume 2003-2008
Table 110 Sales of Small Cooking Appliances by Subsector: Value 2003-2008
Table 111 Sales of Small Cooking Appliances by Subsector: % Volume Growth 2003-2008
Table 112 Sales of Small Cooking Appliances by Subsector: % Value Growth 2003-2008
Table 113 Unit Sales of Coffee Machines by Format: % Breakdown 2004-2008
Table 114 Company Shares of Small Cooking Appliances 2004-2008
Table 115 Brand Shares of Small Cooking Appliances 2005-2008
Table 116 Forecast Sales of Small Cooking Appliances by Subsector: Volume 2008-2013
Table 117 Forecast Sales of Small Cooking Appliances by Subsector: Value 2008-2013
Table 118 Forecast Sales of Small Cooking Appliances by Subsector: % Volume Growth 2008-2013
Table 119 Forecast Sales of Small Cooking Appliances by Subsector: % Value Growth 2008-2013
SMALL KITCHEN APPLIANCES (NON-COOKING) IN VENEZUELA
HEADLINES
TRENDS
COMPETITIVE LANDSCAPE
PROSPECTS
SECTOR DATA
Table 120 Sales of Small Kitchen Appliances (Non-cooking) by Subsector: Volume 2003-2008
Table 121 Sales of Small Kitchen Appliances (Non-cooking) by Subsector: Value 2003-2008
Table 122 Sales of Small Kitchen Appliances (Non-cooking) by Subsector: % Volume Growth 2003-2008
Table 123 Sales of Small Kitchen Appliances (Non-cooking) by Subsector: % Value Growth 2003-2008
Table 124 Company Shares of Small Kitchen Appliances (Non-cooking) 2004-2008
Table 125 Brand Shares of Small Kitchen Appliances (Non-cooking) 2005-2008
Table 126 Forecast Sales of Small Kitchen Appliances (Non-cooking) by Subsector: Volume 2008-2013
Table 127 Forecast Sales of Small Kitchen Appliances (Non-cooking) by Subsector: Value 2008-2013
Table 128 Forecast Sales of Small Kitchen Appliances (Non-cooking) by Subsector: % Volume Growth 2008-2013
Table 129 Forecast Sales of Small Kitchen Appliances (Non-cooking) by Subsector: % Value Growth 2008-2013
VACUUM CLEANERS IN VENEZUELA
HEADLINES
TRENDS
COMPETITIVE LANDSCAPE
PROSPECTS
SECTOR DATA
Table 130 Sales of Vacuum Cleaners by Subsector: Volume 2003-2008
Table 131 Sales of Vacuum Cleaners by Subsector: Value 2003-2008
Table 132 Sales of Vacuum Cleaners by Subsector: % Volume Growth 2003-2008
Table 133 Sales of Vacuum Cleaners by Subsector: % Value Growth 2003-2008
Table 134 Unit Sales of Vacuum Cleaners by Format: % Breakdown 2004-2008
Table 135 Unit Sales of Vacuum Cleaners by Power Source: % Breakdown 2004-2008
Table 136 Company Shares of Vacuum Cleaners 2004-2008
Table 137 Brand Shares of Vacuum Cleaners 2005-2008
Table 138 Forecast Sales of Vacuum Cleaners by Subsector: Volume 2008-2013
Table 139 Forecast Sales of Vacuum Cleaners by Subsector: Value 2008-2013
Table 140 Forecast Sales of Vacuum Cleaners by Subsector: % Volume Growth 2008-2013
Table 141 Forecast Sales of Vacuum Cleaners by Subsector: % Value Growth 2008-2013
IRONS IN VENEZUELA
HEADLINES
TRENDS
COMPETITIVE LANDSCAPE
PROSPECTS
SECTOR DATA
Table 142 Sales of Irons: 2003-2008
Table 143 Sales of Irons: % Growth 2003-2008
Table 144 Unit Sales of Irons by Format: % Breakdown 2004-2008
Table 145 Company Shares of Irons 2004-2008
Table 146 Brand Shares of Irons 2005-2008
Table 147 Forecast Sales of Irons: 2008-2013
Table 148 Forecast Sales of Irons: % Growth 2008-2013
PERSONAL CARE APPLIANCES IN VENEZUELA
HEADLINES
TRENDS
COMPETITIVE LANDSCAPE
PROSPECTS
SECTOR DATA
Table 149 Sales of Personal Care Appliances: 2003-2008
Table 150 Sales of Personal Care Appliances: % Growth 2003-2008
Table 151 Sales of Hair Care Appliances by Format: % Breakdown 2003-2008
Table 152 Sales of Body Shavers by Type: % Breakdown 2003-2008
Table 153 Company Shares of Personal Care Appliances 2004-2008
Table 154 Brand Shares of Personal Care Appliances 2005-2008
Table 155 Forecast Sales of Personal Care Appliances: 2008-2013
Table 156 Forecast Sales of Personal Care Appliances: % Growth 2008-2013
AIR TREATMENT PRODUCTS IN VENEZUELA
HEADLINES
TRENDS
COMPETITIVE LANDSCAPE
PROSPECTS
SECTOR DATA
Table 157 Sales of Air Treatment Products: 2003-2008
Table 158 Sales of Air Treatment Products: % Growth 2003-2008
Table 159 Company Shares of Air Treatment Products 2004-2008
Table 160 Brand Shares of Air Treatment Products 2005-2008
Table 161 Forecast Sales of Air Treatment Products: 2008-2013
Table 162 Forecast Sales of Air Treatment Products: % Growth 2008-2013