Despite refrigeration appliances being essential appliances in the homes of many Indonesians of all income levels, the category was still negatively impacted by the COVID-19 the pandemic during 2020. This was mainly due to the restrictions placed on the movement of the country’s residents during the second quarter of the year and the negative economy outlook that remained in effect until the end of the year.
One of the major factors suppressing demand for refrigeration appliances during 2020 was the unavailability of the key retail channels for sales of these products for an extended period during the early stages of the COVID-19 pandemic. While the category’s leading manufacturers sought to use online promotional campaigns via Instagram to direct consumers towards their e-commerce portals, significant declines were seen in sales of refrigeration appliances during the second quarter of 2020 as many of the country’s electronics and appliances specialist retailers remained closed due to the quarantine lockdown.
As refrigeration appliances is the most important category of major appliances in Indonesia, the leading names in the category have prioritised the development of various different strategies so as to maintain positive growth in spite of the COVID-19 pandemic. Indeed, innovation was a major highlight of the category during 2020 as leading manufacturers continue to release new products throughout the year.
Refrigeration appliances is expected to mount an almost complete recovery in 2021, with positive growth expected to be seen over the entire forecast period. Consumer confidence is set to return as life slowly returns to normal during 2021 and 2022.
During the forecast period, single door appliances are set to remain dominant in fridge freezers, by far the largest category of refrigeration appliances in Indonesia. The appeal of single door fridge freezers is that these are generally the cheapest products available, meaning that they cater to the needs of price-sensitive Indonesian households.
While low unit price is likely to remain a very important factor in determining demand trends in refrigeration appliances for the foreseeable future, premiumisation is also set to become more important in the category during the forecast period as manufacturers seek to cater to the needs of higher-income consumers. Among the areas of innovation that have proven most popular in the category in recent years are anti-bacterial innovation and the greater emphasis on health and hygiene, which is in line with the increasing health awareness that emerged during the COVID-19 situation.
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Understand the latest market trends and future growth opportunities for the Refrigeration Appliances industry in Indonesia 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 Refrigeration Appliances industry in Indonesia, our research will help you to make informed, intelligent decisions; to recognise and profit from opportunity, or to offer resilience amidst market uncertainty.
This report originates from Passport, our Refrigeration Appliances research and analysis database.
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