Sustained growth for consumer appliances in 2013
Consumer appliances in 2013 continued to benefit from the strong consumer spending that was witnessed in 2012. Improvements in disposable income due to sustained economic growth, Overseas Filipino workers’ (OFW) remittances, and developments in the business processing outsourcing (BPO) industry allowed consumers to invest in appliances whilst others upgraded their purchases. The flourishing residential property development industry also brought an accompanied growth to consumer appliances. The availability of several payment options likewise widened the product choice of consumers to include even pricier and more technologically advanced appliances.
More environmentally friendly appliances
Aside from improvements in product features for added convenience, recent product introductions in consumer appliances also included several features that will allow better energy and water savings for its users. This was driven by the increased environmental consciousness and educational campaigns by government agencies. The recurrent water and energy rate hike which prevents some consumers from investing in appliances is also a concern that was addressed by the greater availability of water- and energy-efficient appliances.
Increased use of internet promotions
With the high social media usage amongst Filipinos, the internet is gaining increased importance for companies and retailers as a medium for promotions. The speed and convenience in gathering information over the internet drives greater preference for it compared to traditional advertising formats. As such, companies are increasingly using social media sites to disseminate information on new product launches and promotional offers and to interact with consumers at a more personal level.
Electronics and appliance specialist retailers continues to dominate online retailers
Electronics and appliance specialist retailers continued to be the key distribution channel for consumer appliances in 2013 amidst the developments in online retailing. Preference for brick-and-mortar stores was sustained whilst online selling sites facilitated convenient comparison of product features and prices. Price discounts which are common amongst online retailers were not a sufficient incentive to attain significant growth given that even electronics and appliance specialist retailers offer reduced prices and several payment options to their clients.
Improvements in consumer appliances expected over the forecast period
Consumer appliances is predicted to register improved volume and value growth over the forecast period compared to historic performance. This is expected to be driven by the sustained economic growth which will improve the buying capacity of consumers. Developments in the real estate industry will likewise continue to provide improved business opportunities for companies. Price discounts through store outlets and online selling sites and accessibility to credit facilities, meanwhile, will allow easier access to appliances that will suit varying needs and budget.
Samples (FAQs about samples):
Sample Consumer Appliances Market Research Report
Sample Consumer Appliances Data
Delivery: Files are delivered directly into your account within a few minutes of purchase.
Discover the latest market trends and uncover sources of future market growth for the Consumer Appliances industry in Philippines with research from Euromonitor's team of in-country analysts.
Find hidden opportunities in the most current research data available, understand competitive threats with our detailed market analysis, and plan your corporate strategy with our expert qualitative analysis and growth projections.
If you're in the Consumer Appliances industry in Philippines, our research will save you time and money while empowering you to make informed, profitable decisions.
When you purchase this report, you also get the data and the content from these category reports in Philippines for free:
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:
- What is the market size of Consumer Appliances in Philippines?
- 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?
Why buy this report?
- Gain competitive intelligence about market leaders
- Track key industry trends, opportunities and threats
- Inform your marketing, brand, strategy and market development, sales and supply functions
This industry report originates from Passport, our Consumer Appliances market research database.