Dishwashers in Greece

PROSPECTS

Dishwashers continues to see volume growth, driven by demand for slimmer, smaller models and the need to replace older models that can no longer be repaired

Due to space restrictions in urban Greece, where most properties are apartments with limited space for kitchens, slimline models and, to a lesser degree, compact dishwashers are the best performers. Standard sizes retain their higher share due to their appeal to families but dishwasher growth was deriving from slenderer and smaller dishwashers in 2019.

Aggressive promotion strategies, new value-for-money models and a trend towards more compact dishwashers point to further decline in average unit prices

The average retail price of dishwashers continued to decrease in 2019, as the aggressive promotional activities that retailers adopted in 2017 and 2018 to attract financially constrained consumers has become an ongoing trend. Aside from the more aggressive discounting implemented by retailers and manufacturers, the average price also continues to decline due a relatively recent shift to smaller dishwashers (slim and compact) and to the introduction of value-for-money models, even by leading brands such as Bosch and Pitsos.

Value-for-money built-in models boost prospects for built-in dishwashers over the forecast period

The volume share of built-in dishwashers is growing at the expense of freestanding models, as kitchen design trends favour built-in appliances and – perhaps more importantly – because the average price of built-in dishwashers declined considerably over the review period. The availability of appliances with a retail price below EUR400 has increased, as well-trusted brands such as Indesit and Candy have introduced their own value-for-money built-in models.

COMPETITIVE LANDSCAPE

Leading Bosch and Pitsos brands see increased volume share after introducing value-for-money models

BSH continues to dominate sales of dishwashers and the company increased its volume share by another percentage point in 2019; together its four brands (Bosch, Pitsos, Siemens and Neff) accounted for more than half of the total sales of dishwashers. The volume share of its Neff brand slightly decreased in 2019 due to its high retail price, while that of Siemens remained the same; however, its best-selling brands Bosch, which is the leading brand in dishwashing, and Pitsos, which ranks second, both saw an increase in volume share over the year.

Volume share growth of Whirlpool brands constrained by narrower portfolios and relatively limited promotional activities and offers

Whirlpool Hellas is the main competitor of BSH Ikiakes Siskeves. Its Whirlpool brand ranked third in 2019.

Competitive pricing helps Candy and Indesit increase their volume shares

Volume shares of Candy and Indesit increased slightly in dishwashers in 2019, as Candy has generally adopted a competitive pricing approach to attract consumers and both brands have focused on introducing value-for-money built-in dishwashers that increasingly appeal to consumers that either cannot afford or are unwilling to spend on built-in models that have traditionally sold for higher prices. The consumer base of premium appliances shrunk in Greece during the recession and did not expand even after Greece exited the memoranda.

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