Demand for consumer appliances in Singapore continued to increase in 2018, although volume growth was slower than in 2017 due to maturity and sluggish sales in the property market. In addition, the household penetration of many appliances is already high, leaving little space for organic growth.
Opportunities are emerging for connected appliances in Singapore, thanks in large part to the country’s Smart Nation initiative. A whole new realm of opportunities is opening up for partnerships between stakeholders in the ecosystem.
Philips Electronics Singapore continued to lead consumer appliances in 2018 thanks to its strength in various categories in small appliances. Strong branding and successful innovations have helped the company to maintain its leading position, with it having been unaffected by aggressive price wars initiated by other players in small cooking appliances.
Electronics and appliance specialist retailers remained the leading distribution channel in 2018 as consumers prefer to shop in physical stores for appliances as they like to be able to see and feel these products before making a purchase. Sales staff are also readily available in-store to answer questions, introduce new models and share relevant knowledge.
In a developed market like Singapore, most appliances already enjoy strong household penetration. Moreover, Singapore is a small market and so manufacturers are finding it increasingly difficult to grow their share in a saturated space.
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Discover the latest market trends and uncover sources of future market growth for the Consumer Appliances industry in Singapore 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.