Over the forecast period dishwashers is expected to see negligible growth in retail volume terms, whilst it saw a slight decline in the review period. According to Statistics Korea, the number of dual-income households increased in 2016, and continues to increase due to the stagnation of the Korean economy.
Built-in dishwashers is expected to see higher retail volume growth than freestanding dishwashers over the forecast period, with the latter expected to decline. Built-in dishwashers is also expected to see a better performance in the forecast period than was seen in the review period.
Electronics and appliance specialist retailers lost distribution share in the review period, which benefited construction, home shopping and internet retailing. Construction companies have established good relationships with dishwasher manufacturers, and home owners can select a dishwasher as an option when they want to buy their own home.
SK Magic provides various types of dishwashers, both freestanding and built-in. It introduced its flagship dishwashers, Touch On, which open with the press of a button.
Miele introduced seven new products, including its new G6000 Ecoflex series. These prestige products have no handle on the door – the user just knocks on the door twice and the door opens.
Two foreign companies, Miele Korea and Whirlpool Corp, have only small shares in dishwashers in South Korea, because of the strength of local companies. Major appliances companies such as LG and Samsung promote premium dishwashers that are connected based on their own platforms.
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This industry report originates from Passport, our Consumer Appliances market research database.