Vacuum Cleaners in Turkey

PROSPECTS

Increasing need for practicality to drive volume growth, despite negative economic outlook

Parallel with the strong growth in the overall income levels of consumers, vacuum cleaners had demonstrated very healthy volume and current value growth earlier in the review period. However, deterioration in the economy and the dramatic depreciation in local currency, which caused unit prices to record a sharp hike, significantly hindered demand towards vacuum cleaners in 2018, as a respectable proportion of consumers opted to tighten their belts due to diminishing purchasing power.

Fierce price competition will slow value growth

Similar to retail volume growth, current value sales also recorded strong growth in Turkey earlier in the review period, relying on the fact that consumers were enjoying healthy disposable incomes that allowed them to purchase high-end products. However, following the economic deterioration, volume sales of vacuum cleaners of a premium nature demonstrated a sharp stagnation in 2018.

COMPETITIVE LANDSCAPE

Strong competition continues

The majority of small and major appliances players attached a significant level of importance to vacuum cleaners over the review period, relying on its high annual volume sales base. Because both small and major appliance specialist brands tend to offer a notably wide product range under vacuum cleaners, the competition remained intense.

Expanding product portfolios with economy options will gain players volume share

Players had been able to invest in launching products with more of a premium nature relying on the healthy growth in the economy until the end of the review period. However, the companies that offer more affordable products, such as Saruhan and Fanset Elektrikli Ev Aletleri San ve Tic, gained volume share as consumers’ purchasing power started to diminish.

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