New Consumer Goods research report from Euromonitor International is now available from Fast Market Research
Boston, MA -- (SBWIRE) -- 06/03/2014 -- While irons continued to register growth in 2013, both in volume and current value terms, as one of the most-stable product categories within consumer appliances, the average unit price registered even stronger growth due to the shifting preferences of consumers towards models with steam tanks. Despite their high prices compared to regular models, these products are preferred for their ability to iron clothes smoothly and fast. The time it takes for them to heat up is regarded as a problem, yet this time is compensated for with the ability of these products to offer more-smoothly-ironed clothes due to their ample release of steam during ironing. In 2013, 2,9 mio units with steam tanks were sold, thanks to manufacturers and retailers offering heavy discounts and other sales promotions to drive volume sales.
Irons in Turkey is one of the few categories dominated by international brands, such as Tefal, Rowenta and Philips. SEB-KUR Gida San led the category in 2013 with a 39% volume share thanks to its three brands, Tefal, Moulinex and Rowenta. Rowenta has been one of the most well-known iron brands since the 1980s, and in the 1990s, Tefal quickly joined Rowenta with an aggressive introduction into the country. Both Tefal and Rowenta are regarded as high-quality brands that are offered in a large number of alternative models at reasonable prices. Tefal and Rowenta have also been widely connected with pioneer technologies in the industry. Turk Philips Ticaret, the manufacturer of the international brand Philips, held second place with a 24% volume share. Both companies enjoy geographically-dispersed retail coverage supported by after-sales service networks, particularly in the cities. While SEB-KUR Gida San has a single-brand Tefal chain of shops, Turk Philips Ticaret reaches Turkish consumers through a large number of authorised dealers. Both companies also use a large number of independent and chained technomarkets and hypermarkets to increase their presence within irons.
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Value sales of irons in Turkey are expected to grow at a constant CAGR of 10% over the forecast period, while volume sales are set to grow at a CAGR of 6%. An expected increase in unit prices is mostly due to an increasing proportion of relatively-expensive steam-generator-tank models. Turkish consumers' preferences are more inclined towards mid-range and high-end products that are easier to use, more functional and of a better quality in comparison to low-end products. Low-end to mid-range products will still drive volume growth for this category.
Discover the latest market trends and uncover sources of future market growth for the Irons industry in Turkey with research from Euromonitor's team of in-country analysts.
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