Manufacturers have been focusing on the development of smart technology, especially with regard to major appliances. Fridge freezers and washer dryers are essential appliances that significantly impact the lives of householders.
With shrinking home and kitchen sizes, many consumers are seeking multi-functional appliances, whereby a single appliance can meet several needs. Hence, it is unsurprising that locals prefer fridge freezers to a separate fridge and freezer.
Due to rising tariffs, electricity bills in Singapore started to increase in July 2018, rising by 6.9% over the following three months.
Samsung remained one of the leading players in fridge freezers in 2018 as the company has been actively developing cutting-edge technology so as to offer consumers more convenient and innovative products. In addition, Samsung also focuses heavily on aesthetics so as to appeal to design-conscious householders.
Japanese manufacturers like Mitsubishi, Panasonic, Hitachi and Sharp have been losing ground to their Korean counterparts. This is because they have been slower to adapt to changing consumer needs, while their Korean counterparts, Samsung and LG, have been investing in developing new technologies to make consumers’ lives easier.
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This industry report originates from Passport, our Consumer Appliances market research database.