Consumer appliances records modest volume and value growth in 2012
Consumer appliances in the Philippines recorded modest volume growth in 2012. This growth can be attributed to better economic conditions, the residential property boom in the country, the green initiatives of the government and manufacturers, and the prevalence of flexible payment options from major banks and chained electrical goods retailers. The increase in value sales, on the other hand, was mainly driven by greater demand for energy-efficient and feature-heavy models, which commonly command higher unit prices.
Condominium living and energy campaigns influence consumers’ preferences
The growing popularity of condominium living and smaller dwellings resulted in a greater preference for compact, multipurpose and multifunctional appliances. Although built-in products are a good solution to restricted spaces, Filipinos continued to buy more affordable freestanding units, due to the widespread availability of small models, which suit these types of residences. In addition, the government’s campaign on energy conservation, along with manufacturers’ green initiatives, brought about the introduction of more energy-efficient and eco-friendly appliances, and stimulated greater demand for these goods in 2012.
Haier Group establishes a local subsidiary in the Philippines
Haier Electrical Appliances Philippines was established in 2012, following Haier Group’s acquisition of Sanyo Electric’s white goods and televisions businesses in Japan and some Southeast Asian countries. Based on Sanyo Philippines, the local subsidiary employed a dual-brand strategy – with Sanyo offering low-end and mid-range consumer appliances, and Haier focusing on mid-range to premium lines – to target a broader range of consumer segments. Although a newcomer, Haier Electrical Appliances benefited from the long-standing presence of Sanyo Philippines in the country, as it was able to inherit the latter’s strong knowledge of the local market. Hence in 2012, the entry of a leading global player brought about greater competition in the market.
Online shopping portal lazada.com launches a Philippine website in 2012
German e-commerce company Rocket Internet launched the Lazada shopping portal in 2012 – an online marketplace closely patterned after Amazon.com. The e-retailer heavily invested in building awareness, as well as offering free shipping, various payment methods and highly attractive promotions, to stimulate web purchases in the Philippines. To some extent, the entry of Lazada helped to increase internet retailing in the country – a distribution channel which is still in its infancy – although the impact was not yet that significant in 2012.
A similar performance is expected over the forecast period
A similar performance is expected for consumer appliances over the forecast period, as many of the current market trends – the residential property boom, energy conservation campaigns and the widespread availability of attractive financing schemes – are anticipated to continue. The stable demand for new goods is projected to improve household penetration, which remains relatively low in the country. As such, many categories in consumer appliances are expected to benefit from these developments in the next five years.
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The Consumer Appliances in Philippines market research report includes:
- Analysis of key supply-side and demand trends
- Detailed segmentation of international and local products
- Historic volumes and values, company and brand market shares
- Five year forecasts of market trends and market growth
- Robust and transparent market research methodology, conducted in-country
Our market research reports answer questions such as:
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- What are the major brands in Philippines?
- How was category performance been affected by current economic climate?
- How is penetration for consumer appliances going to develop over the medium term?
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This industry report originates from Passport, our Consumer Appliances market research database.