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Strategy Briefing

Meet the MITTs: Growth Opportunities in Consumer Appliances Outside the BRICs, Part I: Mexico and Indonesia

May 2016

US$1,325

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About This Report

New Report Guarantee

If you purchase a report that is updated in the next 60 days, we will send you the new edition and data extract FREE!

Euromonitor International has identified four emerging markets that can bring back vigour to the consumer appliances industry in light of the economic slowdown that the BRICs are facing. These are Mexico, Indonesia, Thailand and Turkey, dubbed the MITTs. In this, the first part of two reports, Indonesia and Mexico are identified as important opportunity markets, where major policy and infrastructure changes will serve to boost appliances consumption in the 2015-2020 periods.

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Overview

Why buy this report?

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.

The BRICs are losing dynamism, but are still attractive

Even with economic slowdowns, the sheer size of the BRICs make them attractive prospects, but if dynamism is what is being looked for, there are other emerging markets with better prospects.

Mexico, Indonesia, Thailand and Turkey are strong growth boosters

The MITTs are the four emerging markets after the BRICs which are predicted to see the largest absolute growth in consumer appliances over 2015-2020, both in volume and value sales. While smaller than the BRICs, they boast similar purchasing power on a per capita basis

Considerable opportunities, but hurdles to overcome

These markets offer promising long-term potential for investors, though each has a number of hurdles to overcome to make them more attractive. Political instability, corruption and income inequality are some of them.

Low penetration rates are common in most MITTs

A key driver of growth in most MITTs is the very low household penetration rates in most categories of appliances, which, coupled with growing disposable income, are boosting growth in consumer appliances.

Polarisation of the market is evident in the MITTs

In these markets, where income distribution tends to be more unequal, polarisation of the market is evident. Entry level products are key, as penetration rates are low and first time purchases are high, but there is also a segment of the population that lives by aspirational purchases and enjoy high-end products.

The MITTS are strong production hubs

Another thing the MITTs have in common is that most of them are strong production hubs for consumer appliances. Together, they account for almost a third of global production of major appliances and air conditioners, when China is excluded.

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Introduction

Scope

Key findings

What Happened to the BRICs?

Are the BRICs losing their shine?

Brazil’s recovery is taking longer than expected

Russia plunges

India, the best performing BRIC

China: End of subsidy couples with economic slowdown

Who Can Bring Back the Zing?

Who can return dynamism to the industry?

Meet the MIITs: Mexico, Indonesia, Thailand and Turkey

Indonesia: The One to Watch

Indonesia: Macroeconomic fundamentals are there or on the way

Business environment is challenging but has its perks

SWOT analysis of Indonesian business environment

Low penetration rates + growing income = opportunities

Consumer appliances are feeling the dynamism

Most dynamic categories in major appliances over 2015-2020

Urbanisation and busier lifestyles boost sales of fridge freezers

Automatic washing competes with laundry services and hand washing

Growth in small appliances, but from a very low base

Pollution and high temperatures boost sales of air treatment

Vacuum cleaners: A new and coveted “mod con”

How the Indonesian consumer shops for appliances

Traditional distribution channels still dominate

The competitive environment in major appliances in Indonesia

Local players dominate a fragmented small appliances market

Case Study: Star Cosmos, interested in international partnerships

Star Cosmos could offer a good acquisition opportunity

Star Cosmos leads in several categories in small appliances

Indonesia as a production hub

Mexico: A Case of Cautious Optimism

Mexico: A case of cautious optimism

Reforms are on the way to increase competitiveness

SWOT analysis of Mexican business environment

Penetration rates are still low in Mexico

Mexico: The 15 th largest market in consumer appliances

Consumer confidence boosts sales of major appliances

Health trend and quicker lifestyles push sales of microwaves

Fridge freezers and electric wine coolers drive refrigeration

Mexicans move towards higher capacity and aspirational look

Mexican tastes are becoming more sophisticated

Personal care appliances get a boost from innovation

Ironing it out

How the Mexican consumer shops for appliances

Variety stores and grocery retailers, top of the list in Mexico

Local’s share threatened by Asian competitors

Multinationals lead in small appliances in Mexico

Case Study: Haier’s acquisition of GE may lead to new opportunities for Mabe...

Megatrends

Strategy Briefing

Meet the MITTs: Growth Opportunities in Consumer Appliances Outside the BRICs, Part I: Mexico and Indonesia

New Report Guarantee

About This Report

New Report Guarantee

Overview

Why buy this report?

The BRICs are losing dynamism, but are still attractive

Mexico, Indonesia, Thailand and Turkey are strong growth boosters

Considerable opportunities, but hurdles to overcome

Low penetration rates are common in most MITTs

Polarisation of the market is evident in the MITTs

The MITTS are strong production hubs

Want to find out more about this report?

Table of Contents

Introduction

Scope

Key findings

What Happened to the BRICs?

Are the BRICs losing their shine?

Brazil’s recovery is taking longer than expected

Russia plunges

India, the best performing BRIC

China: End of subsidy couples with economic slowdown

Who Can Bring Back the Zing?

Who can return dynamism to the industry?

Meet the MIITs: Mexico, Indonesia, Thailand and Turkey

Indonesia: The One to Watch

Indonesia: Macroeconomic fundamentals are there or on the way

Business environment is challenging but has its perks

SWOT analysis of Indonesian business environment

Low penetration rates + growing income = opportunities

Consumer appliances are feeling the dynamism

Most dynamic categories in major appliances over 2015-2020

Urbanisation and busier lifestyles boost sales of fridge freezers

Automatic washing competes with laundry services and hand washing

Growth in small appliances, but from a very low base

Pollution and high temperatures boost sales of air treatment

Vacuum cleaners: A new and coveted “mod con”

How the Indonesian consumer shops for appliances

Traditional distribution channels still dominate

The competitive environment in major appliances in Indonesia

Local players dominate a fragmented small appliances market

Case Study: Star Cosmos, interested in international partnerships

Star Cosmos could offer a good acquisition opportunity

Star Cosmos leads in several categories in small appliances

Indonesia as a production hub

Mexico: A Case of Cautious Optimism

Mexico: A case of cautious optimism

Reforms are on the way to increase competitiveness

SWOT analysis of Mexican business environment

Penetration rates are still low in Mexico

Mexico: The 15 th largest market in consumer appliances

Consumer confidence boosts sales of major appliances

Health trend and quicker lifestyles push sales of microwaves

Fridge freezers and electric wine coolers drive refrigeration

Mexicans move towards higher capacity and aspirational look

Mexican tastes are becoming more sophisticated

Personal care appliances get a boost from innovation

Ironing it out

How the Mexican consumer shops for appliances

Variety stores and grocery retailers, top of the list in Mexico

Local’s share threatened by Asian competitors

Multinationals lead in small appliances in Mexico

Case Study: Haier’s acquisition of GE may lead to new opportunities for Mabe...

…And also opportunities for Haier in Mexico and the region

Mexico as a production hub

Recommendations

Market polarisation is common ground in Mexico and Indonesia

Why buy this report?

Want to find out more about this report?

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