Towards the end of the review period, it became increasingly apparent that digitalisation has arrived to stay in Colombia. The country has high internet penetration and a relatively high proportion of the local population hold financial cards, including many who do not also have a bank account.
During the forecast period, it is expected that smaller brands of home laundry appliances will have genuine opportunities for very strong sales growth, but only if they are able to take advantage of the pressure that has come on household incomes due to the high inflation that was seen during 2022 and which is expected to last into the forecast period. With the return to shopping stores that has accompanied the receding influence of the COVID-19 pandemic, emerging brands now have opportunities to promote their appliances, although it is likely that this will need to be accompanied by an aggressive pricing strategy, while it would also be wise for these brands to offer home laundry appliances in sizes that make them practical choices and thus attractive to a wide group of consumers.
The political and economic uncertainty that plagued Columbia during 2022 is expected to last well into 2023 and this will undoubtedly emerge as a major factor influencing the sales performance of home laundry appliances during the early stages of the forecast period. The high inflation that is being seen in the country has forced many households to make the most of their budgets and this presents a particular threat to sales growth in the category.
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Understand the latest market trends and future growth opportunities for the Home Laundry Appliances industry in Colombia with research from Euromonitor International's team of in-country analysts – experts by industry and geographic specialisation.
Key trends are clearly and succinctly summarised alongside the most current research data available. Understand and assess competitive threats and plan corporate strategy with our qualitative analysis, insight and confident growth projections.
If you're in the Home Laundry Appliances industry in Colombia, our research will help you to make informed, intelligent decisions; to recognise and profit from opportunity, or to offer resilience amidst market uncertainty.
Home Laundry Appliances
Home laundry appliances includes the following categories: automatic dryers, automatic washing machines, automatic washer dryers and semi-automatic washing machines.
See All of Our DefinitionsThis report originates from Passport, our Home Laundry Appliances research and analysis database.
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