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Learn moreJan 2021
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Negative sales growth was recorded across consumer appliances in Singapore during 2020 as the COVID-19 pandemic had a generally negative impact on sales. Major appliances was hardest hit, with built-in major appliances recording particularly serious volume sales declines as delays in the completion of residential housing developments due to pressures created by the COVID-19 pandemic placed limits on demand.
The first case of the COVID-19 virus in Singapore was confirmed on 23 January. Early cases were primarily accounted for people who had contracted the virus overseas before entering Singapore, although local transmissions began to emerge during February and March.
All of the leading players in major appliances, including Samsung and LG, recorded declining volume sales during 2020 and this can be attributed mainly to the reluctance of consumers to purchase major appliances at a time when their incomes are likely to be under pressure due to the COVID-19 pandemic. The leading names in small appliances such as Philips, Panasonic and Groupe SEB meanwhile managed to record moderate positive volume growth over the course of the year.
2020 saw a very significant shift in sales of consumer appliances towards e-commerce. The main reason for this shift was the quarantine lockdown period that was in place during April and May, which made many of the leading store-based retail channels for the distribution of consumer appliances unavailable, including electronics and appliance specialist retailers and home and garden specialist retailers.
The forecast period is expected to see moderate positive volume sales growth in consumer appliances. Sales growth is expected to be under pressure due to the uncertain and rather adverse economic environment that has emerged from the COVID-19 pandemic, which has led many consumers to pay much closer attention to their discretionary spending.
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Overview
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.
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 Singapore, 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.