Refrigeration Appliances in Portugal

2020 IMPACT

Rising unemployment rates and diminishing purchasing powers result in plummeting volume sales

In response to the COVID-19 pandemic in 2020, refrigeration appliances is expected to see declining volume sales overall. After witnessing several years of continuous growth, the product area will underperform in response to the financial repercussions of the pandemic.

Stockpiling trend results in a surge of sales of freezers in March 2020

When the state of emergency was first announced in March, there was a slight surge in sales of freezers in response to the stockpiling trend as many consumers thought there would be a shortage of food supplies. Consequently, some affluent consumers purchased new freezers in a bid to facilitate their bulk buying.

Beko brand gains share due to its aggressive advertising and competitive pricing

The Beko brand from the company Auferma - Comércio Internacional SA, has continued to increase its position within refrigeration appliances in 2020, regardless of the pandemic. Due to the brands strong communication and advertising alongside a wide offer in terms of models, innovation and competitive prices, the brand has proved itself to be somewhat resilient to the outbreak of COVID-19.

RECOVERY AND OPPORTUNITIES

Slowed growth for refrigeration appliances as the economy continues to impact both purchasing powers and construction work

In 2021, refrigeration appliances is expected to start recovering slowly, however volume sales will continue to decline. in 2022, volume sales will return to growth and over the duration of the forecast period will continue to strengthen.

Manufacturers focus on innovations and differentiation in order to capture more consumers post pandemic

Over the forecast period, manufacturers are expected to continue investing in innovations and differentiation, particularly in response to the COVID-19 pandemic, to compensate for the losses recorded in 2020. Additionally, as kitchens continue to gain more importance inside Portuguese households, producers are expected to offer a variety of products to cater to different consumer needs.

E-commerce continues to gather pace as major players hop on the bandwagon

In response to the pandemic, e-commerce increased its value share within refrigeration appliances. Over the forecast period, e-commerce is expected to continue gathering pace, largely benefitting from major players developing their online presence.