Refrigeration Appliances in Vietnam

PROSPECTS

Inverter technology is a must to attract consumers

Following technology developments in recent years, consumers increasingly see inverters as standard technology when buying a refrigeration appliance. Generally, it is very hard to find a non-inverter product, except cheap mini-size fridges.

Growing popularity of smart technology

Over the forecast period, due to Vietnam’s young population, smart technology applied in refrigeration appliances will attract more consumers. This includes the Internet of Things model, with refrigerators now increasingly expected to connect with other major appliances and smart phones to allow for easy control online.

Construction boom and rising living standards boost refrigeration appliances sales

Vietnamese consumers tend to buy medium size fridge freezers due to their habit of frequent shopping for fresh food. In addition, the pace of life is becoming increasingly busy, with many people going to supermarkets every weekend to buy food for the whole of the next week, thus resulting in a preference for large-capacity lines and refrigeration systems that can keep foods fresh for longer.

COMPETITIVE LANDSCAPE

Haier Electrical Appliances continues to lead sales

In 2018, Haier Electrical Appliances Vietnam remained the leading player within large refrigeration appliances, followed by Panasonic and Sharp. However, Hitachi, LG and Samsung are also performing well, continuously launching more products, particularly side-by-side refrigeration models with specified functions such as auto ice-making, quick cooling systems and super inverter technology.

New innovative offerings attracting consumers

Samsung extended its Chef Collection with the launch of Family Hub in January, targeting the high-income segment, with a trendy image helping to attract consumers. Similarly, all brands widened their offering in a variety of design and price ranges.

Competition fuelling marketing and promotions

Japanese refrigeration models are increasingly preferred in Vietnam due to their reputation for durability, value for money and low energy consumption. Furthermore, products imported from Thailand are also popular in stores.

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