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.
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Tables: 170 | Publication date: Aug 2007
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
Venezuela’s roller coaster economy
Venezuelan consumers are accustomed to dramatic economic shifts due to the rise and fail of oil prices, the main driver of the country’s economy. Consumers learned that during bonanza periods the national currency will be over valuated, in order to reduce inflation, and imports will be less expensive. But a currency devaluation will soon follow and imports will become more expensive. These expectations greatly influenced consumers’ purchasing behaviour. For many consumers buying goods during bonanza times is the only way to protect their assets from inflation, since savings rates at banks remain low due to the recurrent cycle of inflation and devaluation. Domestic electrical appliances purchases during 2006 were highly influenced by this mind set, since consumers expected that after presidential elections that year the currency would devaluated in 2007.
Consumption boost
Consumption was the main driver of the 10.4% economic growth in 2006. According to the Federal Bank, retail sales of domestic appliances and equipments – which include domestic electrical appliances as well as consumer electronics – grew 49.2% in the first eight months of 2006. In addition to the expected currency devaluation in 2007, significant reductions in lender rates lured middle-income consumers to buy domestic electrical appliances. Low-income consumers, favoured by President Chavez’s welfare programs, also were enabled to buy long-desired appliances.
Rising fortunes of low-income consumers drive domestic electrical appliances
Low-income consumers, which comprise 81% of the households in Venezuela, were the most favoured economically during the last eight years of the Chavez presidency. This segment of the population saw increases in income equal to or surpassing inflation in that period, whereas middle-income consumers experienced a significant decrease in their purchasing power. During the forecast period, it is expected that low-income consumers will continue to be favoured by government misiones or welfare programs, which imply monthly transfers of cash and sales of new homes at affordable prices, among other benefits. Unlike other Latin American countries, Venezuelan low-income consumers remain very hopeful that someday they will be able to afford to buy products that might currently exceed their budget. Companies must take into account this attitude, since several of the most desired household goods are domestic electrical appliances products, and consumers are not focusing solely on the low-priced options.
Consumer aspirations favoured large kitchen appliances
Appliances that exhibited the highest sales growth were those most aspired by low income consumers, according to studies published by Urban & Associates and Datanalisis in November, 2006. These included home laundry appliances and microwaves, which accounted for the highest current value sales growth at 70% and 63% respectively, in 2006. These were also the most desired products, besides air conditioners and fridge freezers, for low-income consumers. The most desired appliances for middle-income consumers were air conditioners (34% retail value sales growth) and washing machines. High-income consumers wanted tumble dryers (66% retail value sales growth), air conditioners and washing machines. In addition, significant growth in the number of households is expected during the forecast period, which will drive the demand for major appliances such as cookers and fridge freezers by low- and middle-income consumers.
Small electrical appliances still dominated by premium brands
Unlike large kitchen appliances, small electrical appliances were characterised by the dominance of premium brands such as Oster and Black & Decker, with the exception of irons in which Samurai and Continental Electric gained significant shares. Considering that import restrictions and currency devaluation will force companies to raise prices in the forecast period, low-priced non-premium brands should have an opportunity to increase their share of domestic electrical appliances retail sales.
Table of contents
DOMESTIC ELECTRICAL APPLIANCES IN VENEZUELA : MARKET INSIGHT
EXECUTIVE SUMMARY
Venezuela’s roller coaster economy
Consumption boost
Rising fortunes of low-income consumers drive domestic electrical appliances
Consumer aspirations favoured large kitchen appliances
Small electrical appliances still dominated by premium brands
KEY TRENDS AND DEVELOPMENTS
More credit available to middle class and new account holders
Consumption explosion drives domestic electrical appliances
Government promotes local manufacturing
Housing deficit represents future demand
Rising fortunes of low-income consumers drive sales of domestic electrical appliances
MARKET INDICATORS
Table 1 Household Penetration of Selected Total Stock Domestic Electrical Appliances by Sector/Subsector 2001-2006
MARKET DATA
Table 2 Sales of Domestic Electrical Appliances by Sector: Volume 2001-2006
Table 3 Sales of Domestic Electrical Appliances by Sector: Value 2001-2006
Table 4 Sales of Domestic Electrical Appliances by Sector: % Volume Growth 2001-2006
Table 5 Sales of Domestic Electrical Appliances by Sector: % Value Growth 2001-2006
Table 6 Sales of Large Kitchen Appliances by Sector and by Built-in/Freestanding Split: Volume 2001-2006
Table 7 Sales of Large Kitchen Appliances by Sector and by Built-in/Freestanding Split: Value 2001-2006
Table 8 Sales of Large Kitchen Appliances by Sector and by Built-in/Freestanding Split: % Volume Growth 2001-2006
Table 9 Sales of Large Kitchen Appliances by Sector and by Built-in/Freestanding Split: % Value Growth 2001-2006
Table 10 Company Shares of Large Kitchen Appliances 2002-2006
Table 11 Brand Shares of Large Kitchen Appliances 2003-2006
Table 12 Company Shares of Small Kitchen Appliances (Non-cooking) 2002-2006
Table 13 Brand Shares of Small Kitchen Appliances (Non-cooking) 2003-2006
Table 14 Large Kitchen Appliances by Distribution Format: % Breakdown 2001-2006
Table 15 Forecast Sales of Domestic Electrical Appliances by Sector: Volume 2006-2011
Table 16 Forecast Sales of Domestic Electrical Appliances by Sector: Value 2006-2011
Table 17 Forecast Sales of Domestic Electrical Appliances by Sector: % Volume Growth 2006-2011
Table 18 Forecast Sales of Domestic Electrical Appliances by Sector: % Value Growth 2006-2011
Table 19 Forecast Sales of Large Kitchen Appliances by Sector and by Built-in/Freestanding Split: Volume 2006-2011
Table 20 Forecast Sales of Large Kitchen Appliances by Sector and by Built-in/Freestanding Split: Value 2006-2011
Table 21 Forecast Sales of Large Kitchen Appliances by Sector and by Built-in/Freestanding Split: % Volume Growth 2006-2011
Table 22 Forecast Sales of Large Kitchen Appliances by Sector and by Built-in/Freestanding Split: % Value Growth 2006-2011
DEFINITIONS
Sector and subsector definitions
Distribution definitions
Units of measurement
Sources
Summary 1 Research Sources
LOCAL COMPANY PROFILES - VENEZUELA
ELECTRODOMéSTICOS INELEC CA - DOMESTIC ELECTRICAL APPLIANCES - VENEZUELA
STRATEGIC DIRECTION
KEY FACTS
Summary 2 Electrodomésticos INELEC CA: Key Facts
COMPANY BACKGROUND
PRODUCTION
COMPETITIVE POSITIONING
INDARTELCA - DOMESTIC ELECTRICAL APPLIANCES - VENEZUELA
STRATEGIC DIRECTION
KEY FACTS
Summary 3 INDARTELCA: Key Facts
COMPANY BACKGROUND
PRODUCTION
COMPETITIVE POSITIONING
MABE DE VENEZUELA - DOMESTIC ELECTRICAL APPLIANCES - VENEZUELA
STRATEGIC DIRECTION
KEY FACTS
Summary 4 MABE de Venezuela: Key Facts
Summary 5 MABE de Venezuela: Operational Indicators
COMPANY BACKGROUND
PRODUCTION
Summary 6 MABE de Venezuela: Production Statistics
COMPETITIVE POSITIONING
PREMIUM DE VENEZUELA CA - DOMESTIC ELECTRICAL APPLIANCES - VENEZUELA
STRATEGIC DIRECTION
KEY FACTS
Summary 7 Premium de Venezuela CA: Key Facts
Summary 8 Premium de Venezuela CA: Operational Indicators
COMPANY BACKGROUND
PRODUCTION
COMPETITIVE POSITIONING
TECNOLAM DE VENEZUELA CA - DOMESTIC ELECTRICAL APPLIANCES - VENEZUELA
STRATEGIC DIRECTION
KEY FACTS
Summary 9 Tecnolam de Venezuela CA: Key Facts
COMPANY BACKGROUND
PRODUCTION
COMPETITIVE POSITIONING
REFRIGERATION APPLIANCES IN VENEZUELA
HEADLINES
TRENDS
COMPETITIVE LANDSCAPE
PROSPECTS
SECTOR DATA
Table 23 Sales of Refrigeration Appliances by Subsector: Volume 2001-2006
Table 24 Sales of Refrigeration Appliances by Subsector: Value 2001-2006
Table 25 Sales of Refrigeration Appliances by Subsector: % Volume Growth 2001-2006
Table 26 Sales of Refrigeration Appliances by Subsector: % Value Growth 2001-2006
Table 27 Sales of Fridge Freezers by Format: % Breakdown 2003-2006
Table 28 Sales of Fridges by Format: % Breakdown 2003-2006
Table 29 Sales of Freezers by Format: % Breakdown 2003-2006
Table 30 Sales of Electric Wine Coolers/Chillers by Format: % Breakdown 2003-2006
Table 31 Retail Units by Static/Frost-free: % Split 2001/2006
Table 32 Company Shares of Refrigeration Appliances 2002-2006
Table 33 Brand Shares of Refrigeration Appliances 2003-2006
Table 34 Company Shares of Freestanding Fridge Freezers 2002-2006
Table 35 Company Shares of Freestanding Fridges 2002-2006
Table 36 Forecast Sales of Refrigeration Appliances by Subsector: Volume 2006-2011
Table 37 Forecast Sales of Refrigeration Appliances by Subsector: Value 2006-2011
Table 38 Forecast Sales of Refrigeration Appliances by Subsector: % Volume Growth 2006-2011
Table 39 Forecast Sales of Refrigeration Appliances by Subsector: % Value Growth 2006-2011
HOME LAUNDRY APPLIANCES IN VENEZUELA
HEADLINES
TRENDS
COMPETITIVE LANDSCAPE
PROSPECTS
SECTOR DATA
Table 40 Sales of Home Laundry Appliances by Subsector: Volume 2001-2006
Table 41 Sales of Home Laundry Appliances by Subsector: Value 2001-2006
Table 42 Sales of Home Laundry Appliances by Subsector: % Volume Growth 2001-2006
Table 43 Sales of Home Laundry Appliances by Subsector: % Value Growth 2001-2006
Table 44 Sales of Automatic Washing Machines by Format: % Breakdown 2001-2006
Table 45 Retail Units of Automatic Washing Machines by Wash Mechanism: % Split 2001/2006
Table 46 Company Shares of Home Laundry Appliances 2002-2006
Table 47 Brand Shares of Home Laundry Appliances 2003-2006
Table 48 Forecast Sales of Home Laundry Appliances by Subsector: Volume 2006-2011
Table 49 Forecast Sales of Home Laundry Appliances by Subsector: Value 2006-2011
Table 50 Forecast Sales of Home Laundry Appliances by Subsector: % Volume Growth 2006-2011
Table 51 Forecast Sales of Home Laundry Appliances by Subsector: % Value Growth 2006-2011
DISHWASHERS IN VENEZUELA
HEADLINES
TRENDS
COMPETITIVE LANDSCAPE
PROSPECTS
SECTOR DATA
Table 52 Sales of Dishwashers by Subsector: Volume 2001-2006
Table 53 Sales of Dishwashers by Subsector: Value 2001-2006
Table 54 Sales of Dishwashers by Subsector: % Volume Growth 2001-2006
Table 55 Sales of Dishwashers by Subsector: % Value Growth 2001-2006
Table 56 Retail Units of Built-in Dishwashers: % Split 2001/2006
Table 57 Company Shares of Dishwashers 2002-2006
Table 58 Brand Shares of Dishwashers 2003-2006
Table 59 Forecast Sales of Dishwashers by Subsector: Volume 2006-2011
Table 60 Forecast Sales of Dishwashers by Subsector: Value 2006-2011
Table 61 Forecast Sales of Dishwashers by Subsector: % Volume Growth 2006-2011
Table 62 Forecast Sales of Dishwashers by Subsector: % Value Growth 2006-2011
LARGE COOKING APPLIANCES IN VENEZUELA
HEADLINES
TRENDS
COMPETITIVE LANDSCAPE
PROSPECTS
SECTOR DATA
Table 63 Sales of Large Cooking Appliances by Subsector: Volume 2001-2006
Table 64 Sales of Large Cooking Appliances by Subsector: Value 2001-2006
Table 65 Sales of Large Cooking Appliances by Subsector: % Volume Growth 2001-2006
Table 66 Sales of Large Cooking Appliances by Subsector: % Value Growth 2001-2006
Table 67 Sales of Cookers by Gas/Electric: % Breakdown 2001-2006
Table 68 Retail Units of Ovens by Format: % Split 2001/2006
Table 69 Sales of Ovens by Standard/Multifunctional: % Breakdown 2001-2006
Table 70 Sales of Built-in Hobs by Format: % Breakdown 2001-2006
Table 71 Sales of Freestanding Hobs by Format: % Breakdown 2001-2006
Table 72 Company Shares of Large Cooking Appliances 2002-2006
Table 73 Brand Shares of Large Cooking Appliances 2003-2006
Table 74 Company Shares of Cookers 2002-2006
Table 75 Company Shares of Ovens 2002-2006
Table 76 Company Shares of Hobs 2002-2006
Table 77 Company Shares of Built-in Hobs 2002-2006
Table 78 Company Shares of Cooker Hoods 2002-2006
Table 79 Company Shares of Built-in Cooker Hoods 2002-2006
Table 80 Forecast Sales of Large Cooking Appliances by Subsector: Volume 2006-2011
Table 81 Forecast Sales of Large Cooking Appliances by Subsector: Value 2006-2011
Table 82 Forecast Sales of Large Cooking Appliances by Subsector: % Volume Growth 2006-2011
Table 83 Forecast Sales of Large Cooking Appliances by Subsector: % Value Growth 2006-2011
MICROWAVES IN VENEZUELA
HEADLINES
TRENDS
COMPETITIVE LANDSCAPE
PROSPECTS
SECTOR DATA
Table 84 Sales of Microwaves by Subsector: Volume 2001-2006
Table 85 Sales of Microwaves by Subsector: Value 2001-2006
Table 86 Sales of Microwaves by Subsector: % Volume Growth 2001-2006
Table 87 Sales of Microwaves by Subsector: % Value Growth 2001-2006
Table 88 Retail Units of Microwaves: % Split 2001/2006
Table 89 Company Shares of Microwaves 2002-2006
Table 90 Brand Shares of Microwaves 2003-2006
Table 91 Microwaves by Distribution Format: % Analysis 2001-2006
Table 92 Forecast Sales of Microwaves by Subsector: Volume 2006-2011
Table 93 Forecast Sales of Microwaves by Subsector: Value 2006-2011
Table 94 Forecast Sales of Microwaves by Subsector: % Volume Growth 2006-2011
Table 95 Forecast Sales of Microwaves by Subsector: % Value Growth 2006-2011
FOOD PREPARATION APPLIANCES IN VENEZUELA
HEADLINES
TRENDS
COMPETITIVE LANDSCAPE
PROSPECTS
SECTOR DATA
Table 96 Sales of Food Preparation Appliances by Subsector: Volume 2001-2006
Table 97 Sales of Food Preparation Appliances by Subsector: Value 2001-2006
Table 98 Sales of Food Preparation Appliances by Subsector: % Volume Growth 2001-2006
Table 99 Sales of Food Preparation Appliances by Subsector: % Value Growth 2001-2006
Table 100 Company Shares of Food Preparation Appliances 2002-2006
Table 101 Brand Shares of Food Preparation Appliances 2003-2006
Table 102 Forecast Sales of Food Preparation Appliances by Subsector: Volume 2006-2011
Table 103 Forecast Sales of Food Preparation Appliances by Subsector: Value 2006-2011
Table 104 Forecast Sales of Food Preparation Appliances by Subsector: % Volume Growth 2006-2011
Table 105 Forecast Sales of Food Preparation Appliances by Subsector: % Value Growth 2006-2011
SMALL COOKING APPLIANCES IN VENEZUELA
HEADLINES
TRENDS
COMPETITIVE LANDSCAPE
PROSPECTS
SECTOR DATA
Table 106 Sales of Small Cooking Appliances by Subsector: Volume 2001-2006
Table 107 Sales of Small Cooking Appliances by Subsector: Value 2001-2006
Table 108 Sales of Small Cooking Appliances by Subsector: % Volume Growth 2001-2006
Table 109 Sales of Small Cooking Appliances by Subsector: % Value Growth 2001-2006
Table 110 Unit Sales of Coffee Machines by Format: % Breakdown 2003-2006
Table 111 Company Shares of Small Cooking Appliances 2002-2006
Table 112 Brand Shares of Small Cooking Appliances 2003-2006
Table 113 Forecast Sales of Small Cooking Appliances by Subsector: Volume 2006-2011
Table 114 Forecast Sales of Small Cooking Appliances by Subsector: Value 2006-2011
Table 115 Forecast Sales of Small Cooking Appliances by Subsector: % Volume Growth 2006-2011
Table 116 Forecast Sales of Small Cooking Appliances by Subsector: % Value Growth 2006-2011
SMALL KITCHEN APPLIANCES (NON-COOKING) IN VENEZUELA
HEADLINES
TRENDS
COMPETITIVE LANDSCAPE
PROSPECTS
SECTOR DATA
Table 117 Sales of Small Kitchen Appliances (Non-cooking) by Subsector: Volume 2001-2006
Table 118 Sales of Small Kitchen Appliances (Non-cooking) by Subsector: Value 2001-2006
Table 119 Sales of Small Kitchen Appliances (Non-cooking) by Subsector: % Volume Growth 2001-2006
Table 120 Sales of Small Kitchen Appliances (Non-cooking) by Subsector: % Value Growth 2001-2006
Table 121 Company Shares of Small Kitchen Appliances (Non-cooking) 2002-2006
Table 122 Brand Shares of Small Kitchen Appliances (Non-cooking) 2003-2006
Table 123 Forecast Sales of Small Kitchen Appliances (Non-cooking) by Subsector: Volume 2006-2011
Table 124 Forecast Sales of Small Kitchen Appliances (Non-cooking) by Subsector: Value 2006-2011
Table 125 Forecast Sales of Small Kitchen Appliances (Non-cooking) by Subsector: % Volume Growth 2006-2011
Table 126 Forecast Sales of Small Kitchen Appliances (Non-cooking) by Subsector: % Value Growth 2006-2011
VACUUM CLEANERS IN VENEZUELA
HEADLINES
TRENDS
COMPETITIVE LANDSCAPE
PROSPECTS
SECTOR DATA
Table 127 Sales of Vacuum Cleaners by Subsector: Volume 2001-2006
Table 128 Sales of Vacuum Cleaners by Subsector: Value 2001-2006
Table 129 Sales of Vacuum Cleaners by Subsector: % Volume Growth 2001-2006
Table 130 Sales of Vacuum Cleaners by Subsector: % Value Growth 2001-2006
Table 131 Unit Sales of Vacuum Cleaners by Format: % Breakdown 2003-2006
Table 132 Unit Sales of Vacuum Cleaners by Power Source: % Breakdown 2003-2006
Table 133 Company Shares of Vacuum Cleaners 2002-2006
Table 134 Brand Shares of Vacuum Cleaners 2003-2006
Table 135 Forecast Sales of Vacuum Cleaners by Subsector: Volume 2006-2011
Table 136 Forecast Sales of Vacuum Cleaners by Subsector: Value 2006-2011
Table 137 Forecast Sales of Vacuum Cleaners by Subsector: % Volume Growth 2006-2011
Table 138 Forecast Sales of Vacuum Cleaners by Subsector: % Value Growth 2006-2011
IRONS IN VENEZUELA
HEADLINES
TRENDS
COMPETITIVE LANDSCAPE
PROSPECTS
SECTOR DATA
Table 139 Sales of Irons: 2001-2006
Table 140 Sales of Irons: % Growth 2001-2006
Table 141 Retail Units of Irons: % Split 2001/2006
Table 142 Retail Units of Irons: % Features 2001/2006
Table 143 Company Shares of Irons 2002-2006
Table 144 Brand Shares of Irons 2003-2006
Table 145 Forecast Sales of Irons: 2006-2011
Table 146 Forecast Sales of Irons: % Growth 2006-2011
PERSONAL CARE APPLIANCES IN VENEZUELA
HEADLINES
TRENDS
COMPETITIVE LANDSCAPE
PROSPECTS
SECTOR DATA
Table 147 Sales of Personal Care Appliances: 2001-2006
Table 148 Sales of Personal Care Appliances: % Growth 2001-2006
Table 149 Sales of Hair Care Appliances by Format: % Breakdown 2001-2006
Table 150 Sales of Body Shavers by Type: % Breakdown 2001-2006
Table 151 Retail Units of Body Shavers: % Features 2001/2006
Table 152 Company Shares of Personal Care Appliances 2002-2006
Table 153 Brand Shares of Personal Care Appliances 2003-2006
Table 154 Forecast Sales of Personal Care Appliances: 2006-2011
Table 155 Forecast Sales of Personal Care Appliances: % Growth 2006-2011
AIR TREATMENT PRODUCTS IN VENEZUELA
HEADLINES
TRENDS
COMPETITIVE LANDSCAPE
PROSPECTS
SECTOR DATA
Table 156 Sales of Air Treatment Products: 2001-2006
Table 157 Sales of Air Treatment Products: % Growth 2001-2006
Table 158 Company Shares of Air Treatment Products 2002-2006
Table 159 Brand Shares of Air Treatment Products 2003-2006
Table 160 Forecast Sales of Air Treatment Products: 2006-2011
Table 161 Forecast Sales of Air Treatment Products: % Growth 2006-2011
HEATING APPLIANCES IN VENEZUELA
HEADLINES
TRENDS
COMPETITIVE LANDSCAPE
PROSPECTS