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Learn moreJan 2021
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Growth in retail volume sales of consumer appliances will slow during 2020, with small appliances bearing the brunt of this. Demand for air purifiers has been particularly badly affected by the pandemic, with public health experts warning that these appliances could help to spread the virus.
South Korean authorities avoided lockdowns and instead pursued a strategy of early and aggressive mass testing, isolating anybody infected and tracking their movements to locate other people who had come into contact with them. Within two weeks of its first case, the country was producing more than 100,000 test kits per day, and it had tested over 600,000 people by early May.
COVID-19 has led manufacturers to shift their marketing resources online. With hygiene increasingly important to consumers, they are also paying more attention to dishwashers and automatic dryers that utilise steam, in addition to launching robotic and stick vacuum cleaners that can be used to wipe the floor, in addition to picking up dust.
With many consumers spending more time at home and fearful of shopping in person due to an elevated fear of contagion, COVID-19 has driven a significant shift to e-commerce in consumer appliances. Demand has also been boosted by the fact that major internet retailers like Coupang now provide installation services.
With 2021 likely to see the normalisation of daily life due to the administration of COVID-19 vaccines to a significant proportion of the population, there will be a rebound in retail volume sales of consumer appliances, with small appliances set to be the main beneficiary. Conversely, many products that saw a boost in demand due to COVID-19, such as pod coffee machines, will see a deceleration in the rate of volume sales growth during 2021.
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Overview
Discover the latest market trends and uncover sources of future market growth for the Consumer Appliances industry in South Korea 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 South Korea, 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 South Korea for free:
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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.