Microwaves in South Korea

PROSPECTS

Explosive growth in light fryers hampers growth of microwaves

Since 2017, the popularity of light fryers has grown rapidly through a lowering of prices and expansion of frozen food categories, such as frozen chicken and pizza. This growth is having an influence on the slow growth of microwaves.

Freestanding microwaves offer convenience when moving home

Many consumers move home frequently. Moreover, according to the Korea Research Institute the average age when a person purchases their firsts residence is 39.

Bricks and mortar outlets remain the main distribution channels for microwaves

Electronics and appliance specialist retailers and hypermarkets remain the main channels for microwaves. Prices range from KRW50,000 to KRW130,000 with little differences in price between bricks and mortar stores and internet retailing.

COMPETITIVE LANDSCAPE

Samsung Electronics leads the category

Samsung Electronics retained top stop in microwaves in 2019 thanks to its global renown, strong brand identity and wide distribution reach. SK Magic ranked second with its Magic brand and was followed by LG Electronics with LG.

Samsung Electronics benefits from dual-system control functionality

Samsung Electronics’ microwaves offer a dual system control function including buttons and buttons with dials. The buttons control various functions and offer more complex function, while the dial type is simpler but offers less functionality.

Few multinational microwaves appear on retailers’ shelves

The microwaves category is characterised by domestic players such as Samsung Electronics, SK Magic, LG Electronics, Winiadaewoo and even E-mart with few multinationals being present in mass products. The prices of microwaves are relatively lower than appliances in major appliances.

Files are delivered directly into your account within a few minutes of purchase.