Recently published research from Euromonitor International, "Home Laundry Appliances in Turkey", is now available at Fast Market Research
Boston, MA -- (SBWIRE) -- 06/03/2014 -- Since the end of the global recession in 2010, the category has registered strong growth in current value terms, as a result of growing consumer confidence. This growth in consumer confidence led consumers not only to make a greater number of purchases, but also to spend more on average. Indirectly, demand for housing also played an important role during the post-recession recovery. Reaching its peak in early 2012, consumer confidence then began to register a steady decline due to warnings from government officials to spend less. Moreover, the government also tried to stop consumer loans for products from several categories, especially in terms of loans on credit cards, which is a very common practice for middle-class and lower-income households. Despite the negative effect on demand, the category registered 7% volume growth and 17% current value growth in 2013. Besides the growing popularity of built-in appliances, especially for new homes, the average unit prices of categories with freestanding models registering current value growth in 2013, showing that consumers were still confident enough to go for higher-priced alternatives in return for improved design and technical features. Products with more-advanced technologies, increased functionality and a better energy performance also became increasingly popular. A growing number of consumers are aware of and actually searching for energy-efficient models. Manufacturers and retailers are emphasising the energy ratings of their products, as research and development efforts are targeted at decreasing the energy and water consumption of new models, along with other technological innovations to meet consumer needs.
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In 2013, Arcelik continued to lead home laundry appliances with a 68% volume share. With its three brands Arcelik, Beko and Altus, Arcelik owes its position to being the first local major appliances manufacturer in the country and enjoys its reputation through being a manufacturer of a wide product range in major and small appliances. The company also offers a wide range of products in each category it serves, including home laundry appliances, catering to the needs of different consumer groups. The leading international player, BSH Ev Aletleri Sanayi ve Ticaret, held second position in 2013 with a 21% volume share. This was due to its three brands of Bosch, Siemens and Profilo. Both companies continued their year-round marketing campaigns by advertising through all the various media channels and frequent sales promotions, usually in the form of price discounts and product bonuses involving giving away a small appliance for purchasing a larger one.
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