Since 2017, many Colombians, mainly low- and middle-income consumers, have stopped buying new durable goods such as consumer appliances due to the uncertainty caused by the implementation of the country’s tax reforms and their impact on prices. This is especially true for refrigeration and laundry appliances which experienced a significant drop in volume sales for standard models.
Energy efficiency and water usage remain the most important factors considered by price-sensitive consumers at the time of purchase for major appliances. Rising prices for water and electricity have made Colombians more conscious about their consumption and the efficiency of their appliances.
Industrias HACEB SA and Mabe de Colombia SA continue to dominate major appliances in 2018. Offering a complete product portfolio at attractive prices has been their main strategy in targeting a larger consumer base.
Hypermarkets and electronics and appliance specialist retailers remain the dominant distribution channels consumer appliances in 2018. However, Colombians are gradually engaging with more than one channel as part of their shopping experience.
Consumer appliances is set to see stronger volume growth over the forecast period compared to the review period. Most of this growth will continue to be driven by manufacturers meeting the consumer demand for energy efficiency, multifunctionality, healthy cooking, design, noise control and connectivity.
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Discover the latest market trends and uncover sources of future market growth for the Consumer Appliances industry in Colombia with research from Euromonitor's team of in-country analysts.
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This industry report originates from Passport, our Consumer Appliances market research database.