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Learn moreFeb 2019
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While suppliers have been unable to replenish inventories, new arrivals have not sold out as quickly as they once did. Previously consumers were inclined to buy as many units as they could in anticipation of future shortages.
Venezuelans are staying at home, with Caracas ranked as one of the most violent capital cities in the world by several international agencies. Consumers are unwilling to frequent on-trade establishments, especially at night, when it is more dangerous.
Complicated import restrictions and varying exchange rate policies are a huge challenge for companies. However, a key to growth is creating strategies to take advantage of special agreements with the government –such as the one Haier has – which can help to ensure sales in Venezuela.
Haier has led refrigeration appliances since 2013, when it took the leadership from MABE de Venezuela, due to its strong position in fridge freezers. The advantage Haier has over its competitors is mass sales through a special agreement with the Venezuelan government, which guarantees it foreign currency to import products.
Many multinational companies have closed their commercial departments in Venezuela while leaving a reduced staff working in their administration departments due to a lack of inventory and an inability to import products from other countries. Nevertheless, retailers have helped to maintain a presence for their brands.
A hostile business environment limited the entry of new brands during 2017 and also caused the loss of many existing brands due in part to escalating prices. As a result, service and price have become the most important factors in purchasing decisions in 2018.
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Overview
Discover the latest market trends and uncover sources of future market growth for the Refrigeration Appliances industry in Venezuela with research from Euromonitor's team of in-country analysts.
Find hidden opportunities in the most current research data available, understand competitive threats with our detailed market analysis, and plan your corporate strategy with our expert qualitative analysis and growth projections.
If you're in the Refrigeration Appliances industry in Venezuela, our research will save you time and money while empowering you to make informed, profitable decisions.
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Why buy this report?
This industry report originates from Passport, our Consumer Appliances market research database.
Gain competitive intelligence about market leaders. Track key industry trends, opportunities and threats. Inform your marketing, brand, strategy and market development, sales and supply functions.