Microwaves in Colombia

PROSPECTS

Healthy cooking trend and steep rise in unit prices impacts sales of microwaves

Microwaves are typically used as a convenient way to heat/reheat meals, including ready meals, especially among those consumers who lack the time to make their own preparations. Nevertheless, even though Colombians in urban areas are leading increasingly hectic lives, according to Euromonitor packaged food results, consumers continue to prefer more traditional cooking approaches to purchasing expensive and unbalanced ready meals.

Multifunctionality is appealing

Many consumers that buy microwaves for the first time are motivated by accessible mid-priced appliances with core features. Meanwhile, for replacement purchases buyers tend to place a greater focus on quality, branding and value-added features which are key to attracting consumers.

Technology and design drivers for premium brands

Inverter technology is seen to be popular among other major appliances, but few strides have been made with regard to premium microwaves in terms of offering greater control over the cooking or defrosting of food. Consumers generally prefer counter-top microwaves to match their kitchen design by ensuring the colour, exterior and overall look stay in line with current trends.

COMPETITIVE LANDSCAPE

Industrias HACEB SA remains the category leader

HACEB continues to lead microwaves in 2018 with it registering strong retail volume growth thanks to its extensive portfolio that covers all price ranges despite its lack of advertising, which is typical of this category. There is a demand for inexpensive products aimed at meeting simpler needs, with consumers not considering microwaves as a major appliance but rather just another small cooking appliance.

Whirlpool develops attractive innovations

Whirlpool launched the first microwave with an incorporated cooker hood in 2018, which has been the biggest innovation of the year to date. Some of the included features include vapour cook, interior clean release and auto adapt fan (to adjust the microwave’s temperature).

Category sees an omnichannel approach

Major appliances tend to be purchased through physical stores as consumers want to interact with and learn more about the appliance first hand. However, given the considerably lower cost of microwaves compared to other major appliances, internet retailing has become a significant channel with consumers often making a purchase after conducting offline research.

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