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Learn moreFeb 2021
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Retail volume sales of consumer appliances in Saudi Arabia faced two significant headwinds during 2020 – COVID-19 and a hike in the rate of value added tax (VAT) from 5% to 15% that was implemented in July. The pandemic led to an increase in unemployment and weighed heavily on consumer confidence – partly due to its significant negative impact on the price of crude oil, the kingdom’s key export – making many people more reluctant to purchase big-ticket items like refrigerators and home laundry appliances.
Saudi Arabia locked down the capital Riyadh and the Islamic holy cities of Makkah and Madinah – both of which are major centres of pilgrimage – from 25 March 2020. A 24-hour curfew was also imposed in these cities.
With consumer demand for consumer appliances, particularly large ones, extremely weak in 2020 due to the double whammy of COVID-19 and the VAT increases, many manufacturers of consumer appliances discounted their prices and upped their promotional activities. Social media grew in importance as a marketing tool, with Dyson Ltd utilising influencers to promote its brands, for example.
The pandemic has boosted the popularity of e-commerce as a distribution channel for large consumer appliances. For example, the retail volume share of e-commerce in refrigeration appliances and microwaves doubled during the year, while that of large cooking appliances almost trebled – albeit from a fairly low base in all three cases.
Retail volume sales of consumer appliances will begin to recover during 2021, as the economic impact of COVID-19 begins to fade, but this recovery will be weak, particularly for major appliances. Consumer purchasing power is likely to remain weak well into the forecast period, so they are likely to remain quite cautious and price sensitive.
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Overview
Discover the latest market trends and uncover sources of future market growth for the Consumer Appliances industry in Saudi Arabia 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 Saudi Arabia, our research will save you time and money while empowering you to make informed, profitable decisions.
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This industry report originates from Passport, our Consumer Appliances market research database.
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.