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Recent Study: Refrigeration Appliances in Turkey

New Consumer Goods market report from Euromonitor International: "Refrigeration Appliances in Turkey"

 
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Boston, MA -- (SBWIRE) -- 06/11/2014 -- In 2013, refrigeration appliances in Turkey recorded 23% volume and 25% current value growth. Despite the decline in growth of sales of new homes, volume growth was driven by kitchen renewals by mostly middle-class households aspiring to kitchen formats introduced by new buildings. Current value growth was a result of a shifting consumer preference towards more-advanced models that offer increased functionality, improved energy efficiency and design features. After reaching its peak in 2011, sales of homes recorded only a 6% increase in 2013, with more than 120,000 homes sold across the country. This figure includes both new homes and used homes. While the increase in the number of new homes sold is directly reflected in volume sales of refrigeration appliances, growth of the construction channel remains limited as only upmarket projects offer refrigeration appliances as part of the sale. Moreover, the increase in the number of used homes sold also causes growth in sales of refrigeration appliances (along with dishwashers, ovens, microwaves, built-in hobs and hoods etc) as many middle- and upper/middle-class consumers prefer to remodel the kitchens of these homes in order to create a more-functional room and a pleasant atmosphere. In new homes, the average area of the kitchen is also larger compared with used homes, which allows consumers to use side-by-side 2-door models. Energy efficiency is increasingly becoming a major criterion in purchasing decisions as manufacturers, distributors and retailers stress the importance of this issue in their advertisements and advertorials.

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