While sales of microwaves declined due to the impact of the COVID-19 pandemic during 2020, built-in microwaves registered far steeper sales declines than freestanding microwaves. The principal reason for this is that most of the built-in microwaves sold in Singapore are pre-installed in the kitchens of brand new apartments.
As in many categories of consumer appliances, one of the major influences on the negative performance recorded in microwaves during 2020 was the government-mandated closure of all electronics and appliance specialist retailers and home and garden specialist retailers for an extended period during the initial stages of the COVID-19 pandemic. However, this was in not as strong a negative influence on category sales as it was in other categories of major appliances as consumers are more likely to be prepared to buy a microwave online than other types of major appliances.
No major changes were seen in the competitive environment in microwaves in 2020 as the leading players all maintained their volume shares or, in some cases, experienced merely marginal declines. Panasonic emerged from 2020 as the strong leader in the category, with its robust sales placing it some distance ahead of second-placed Sharp.
During the forecast period, sales of microwaves are expected to recover strongly from the sales declines registered at the peak of the COVID-19 pandemic during 2020. Despite the still relatively low household penetration of these appliances, microwaves are increasingly seen as essential items in the kitchens of Singaporean apartments and this is based on their compact size and the convenience that they offer when cooking, heating and reheating food.
As mentioned above, one of the main reasons for the popularity of microwaves is that these are compact appliances that are easy to find space for the compact kitchens that are often seen in Singaporean apartments. Furthermore, as new homes in the country are often very small with extremely compact kitchens, the amount of space that is available for major appliances is constantly diminishing.
Energy efficiency has been a major trend in consumer appliances in Singapore for some years and the review period saw a steady increase in the importance of this trend. During the forecast period, it is expected that consumer understanding of the need for energy efficient products will increase as people become more aware of the benefits that are associated with energy-efficient appliances in terms of cost savings.
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This report originates from Passport, our Microwaves research and analysis database.
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