One of the emblematic projects of the present government is the switch of the energy matrix of the country; its objective is to reduce the dependency on fossil fuels (ie kitchen gas) by the use of electric energy generated by various mega hydroelectric projects built by the government. For this purpose, it is encouraging the use of induction cookers in replacement of conventional cookers that use blended oil and gas. These cookers will be locally produced and will also be imported from China at low prices. In the implementation strategy of this project, it is sought that the consumers will find it less beneficial to buy a conventional cooker, and for this purpose the government has implemented a tax to encourage the reduction of conventional cookers’ use. Since the communication of the project, the acquisition of conventional cookers has considerably affected sales of electronics and appliance specialists.
Almacenes La Ganga led sales in 2015 with an 11% current value share. Almacenes La Ganga started its operations in 1983; it also led in outlet numbers with 133 establishments in the whole country.
Forecast period value sales are expected to decrease at a CAGR of 4% at constant 2015 prices. The category will be strongly affected by import customs duties, the problems behind induction cookers and the general consumption decrease in the country. It is evident that due to the present and future macro-economic problems of the country, the Ecuadorian consumers will prioritise their consumption to immediate necessity goods; it is projected that the repair and purchase of new electronics and appliance products will be affected by this tendency.
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Understand the latest market trends and future growth opportunities for the Electronics and Appliance Specialist Retailers industry in Ecuador with research from Euromonitor International's team of in-country analysts – experts by industry and geographic specialisation.
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This report originates from Passport, our Electronics and Appliance Specialist Retailers research and analysis database.
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