Abstract
Euromonitor International' s Domestic Electrical Appliances in Venezuela market
report offers a comprehensive guide to the size and shape of the market at a
national level. It provides the latest retail sales data, allowing you to
identify the sectors driving growth. It identifies the leading companies, the
leading brands and offers strategic analysis of key factors influencing the
market - be they new product developments, packaging innovations,
economic/lifestyle influences, distribution or pricing issues. Forecasts
illustrate how the market is set to change.
Why buy this report
- Get insight into trends in market performance
- Pinpoint growth sectors and identify factors driving change
- Identify market and brand leaders and understand the competitive
environment
Product coverage
Large kitchen appliances; Small electrical appliances
Executive summary
Slowing performance seen in the second half of 2008
After years of aggressive growth along with Venezuela' s oil boom, the domestic
electrical appliance (DEA) market began to see slowing growth in the second
half of 2008 as the world recession started to make its appearance in
Venezuela. Oil prices took a significant dip from their high in July of 2008,
and with consumer confidence shaken and interest rates rising in response to
the difficult economy, the boom in domestic electrical appliances began to ebb
towards the end of the year. The result was slowing growth across the board
compared to the excellent results obtained in 2007.
Luxury items still doing well
Despite signs of a slowdown, the market for items that confer status on
Venezuelan consumers continued to perform quite well throughout the year, with
items such as electric wine coolers/chillers and other personal care
appliances seeing the highest growth rates. With an economy heavily dependent
on oil and the government in control of enormous funds, those with government
connections are becoming a large up-and-coming consumer class that demands
prestigious durable goods. This target market has made Venezuela a good
destination for players selling more exclusive products that are not geared
towards the general population, such as Cuisinart.
Government interest in DEA increases
Already a participant in the food retailing sector with large subsidies for
purchases at government-run Mercal stores, the Venezuelan state is increasing
its efforts to enter into the home appliance business. In late 2008 the
government launched Reinita and Famosa brands of refrigeration appliances,
laundry appliances and cookers through subsidized retailers in order to
provide these items at low cost to Venezuela' s poor population. Whilst the
products did not go over well in 2008 and so far have fallen short of the
government' s expectations, there are plans to team up with Chinese
multinational Haier in order to provide exclusive low-priced goods, likely
assembled inside the country in order to encourage local manufacturing.
However, as a result of the nature of Venezuelan consumers and challenges
facing the government, these plans are unlikely to present a serious threat in
the short term.
Difficult distribution distorts the Venezuelan market
With strict currency controls and a limited amount of dollars exchanged at the
preferential rate for DEA importers, logistics continue to impose a
significant burden on all players in the market. As of 2008 preferential
treatment for products produced in Latin American countries was removed and
altogether the cost and time spent bringing new products into the country has
increased across the board. DEA players in Venezuela are finding that getting
their products to market is as much of a challenge as competing in terms of
marketing or product positioning, and the biggest players with experience
dealing with the government are the beneficiaries.
Uncertain future for electrical home appliances
Although oil prices may well rebound and allow consumption in Venezuela to
resume its frantic pace, the many uncertainties of the market, lack of
investment in the country, and the strong role of the government in the
country' s economy leave a great deal of uncertainty about what future
performance will be. However, the most likely scenario is that the market is
headed for continuing growth given the large reserves the economy holds in
order to weather the current storm, combined with the continuing dependence of
the world on oil and the likelihood that current policies will remain
entrenched for the coming years. In addition, the large deficit of available
housing for the population leaves a strong growth opportunity. As a result,
conservative growth rates for the 2008-2013 forecast period are expected, but
growth may be driven more by the new class of well-to-do consumers rather than
the surging lower-middle class that characterized 2004-2008 review period.
Table of Contents
EXECUTIVE SUMMARY
- Slowing performance seen in the second half of 2008
- Luxury items still doing well
- Government interest in DEA increases
- Difficult distribution distorts the Venezuelan market
- Uncertain future for electrical home appliances
KEY TRENDS AND DEVELOPMENTS
- Volatile economy makes appliance performance uncertain
- State intervention plans are being reformulated in the DEA market
- Korean manufacturers appeal to tech-savvy Venezuelans
- Increasing difficulty in getting to market
MARKET INDICATORS
- Table 1 Household Penetration of Selected Total Stock Domestic Electrical
Appliances by Sector/Subsector 2003-2008
- Table 2 Replacement Cycles of Domestic Electrical Appliances by Sector 2008
MARKET DATA
- Table 3 Sales of Domestic Electrical Appliances by Sector: Volume 2003-2008
- Table 4 Sales of Domestic Electrical Appliances by Sector: Value 2003-2008
- Table 5 Sales of Domestic Electrical Appliances by Sector: % Volume Growth
2003-2008
- Table 6 Sales of Domestic Electrical Appliances by Sector: % Value Growth
2003-2008
- Table 7 Sales of Large Kitchen Appliances by Sector and by
Built-in/Freestanding Split: Volume 2003-2008
- Table 8 Sales of Large Kitchen Appliances by Sector and by
Built-in/Freestanding Split: Value 2003-2008
- Table 9 Sales of Large Kitchen Appliances by Sector and by
Built-in/Freestanding Split: % Volume Growth 2003-2008
- Table 10 Sales of Large Kitchen Appliances by Sector and by
Built-in/Freestanding Split: % Value Growth 2003-2008
- Table 11 Company Shares of Large Kitchen Appliances 2004-2008
- Table 12 Brand Shares of Large Kitchen Appliances 2005-2008
- Table 13 Company Shares of Small Kitchen Appliances (Non-cooking) 2004-2008
- Table 14 Brand Shares of Small Kitchen Appliances (Non-cooking) 2005-2008
- Table 15 Large Kitchen Appliances by Distribution Format: % Breakdown
2003-2008
- Table 16 Forecast Sales of Domestic Electrical Appliances by Sector:
Volume 2008-2013
- Table 17 Forecast Sales of Domestic Electrical Appliances by Sector: Value
2008-2013
- Table 18 Forecast Sales of Domestic Electrical Appliances by Sector: %
Volume Growth 2008-2013
- Table 19 Forecast Sales of Domestic Electrical Appliances by Sector: %
Value Growth 2008-2013
- Table 20 Forecast Sales of Large Kitchen Appliances by Sector and by
Built-in/Freestanding Split: Volume 2008-2013
- Table 21 Forecast Sales of Large Kitchen Appliances by Sector and by
Built-in/Freestanding Split: Value 2008-2013
- Table 22 Forecast Sales of Large Kitchen Appliances by Sector and by
Built-in/Freestanding Split: % Volume Growth 2008-2013
- Table 23 Forecast Sales of Large Kitchen Appliances by Sector and by
Built-in/Freestanding Split: % Value Growth 2008-2013
DEFINITIONS
- Summary 1 Research Sources
LOCAL COMPANY PROFILES - VENEZUELA
INDARTELCA - DOMESTIC ELECTRICAL APPLIANCES - VENEZUELA
- STRATEGIC DIRECTION
- KEY FACTS
- Summary 2 INDARTELCA: Key Facts
- COMPANY BACKGROUND
- PRODUCTION
- COMPETITIVE POSITIONING
- Summary 3 INDARTELCA: Competitive Position 2008
LG PANAMA - DOMESTIC ELECTRICAL APPLIANCES - VENEZUELA
- STRATEGIC DIRECTION
- KEY FACTS
- Summary 4 LG PANAMA: Key Facts
- COMPANY BACKGROUND
- PRODUCTION
- COMPETITIVE POSITIONING
- Summary 5 LG PANAMA: Competitive Position 2008
MABE DE VENEZUELA - DOMESTIC ELECTRICAL APPLIANCES - VENEZUELA
- STRATEGIC DIRECTION
- KEY FACTS
- Summary 6 MABE de Venezuela: Key Facts
- COMPANY BACKGROUND
- PRODUCTION
- COMPETITIVE POSITIONING
- Summary 7 MABE de Venezuela: Competitive Position 2008
OSTER DE VENEZUELA CA - DOMESTIC ELECTRICAL APPLIANCES - VENEZUELA
- STRATEGIC DIRECTION
- KEY FACTS
- Summary 8 Oster de Venezuela CA: Key Facts
- COMPANY BACKGROUND
- PRODUCTION
- COMPETITIVE POSITIONING
- Summary 9 Oster de Venezuela CA Competitive Position 2008
PREMIUM DE VENEZUELA CA - DOMESTIC ELECTRICAL APPLIANCES - VENEZUELA
- STRATEGIC DIRECTION
- KEY FACTS
- Summary 10 Premium de Venezuela CA: Key Facts
- COMPANY BACKGROUND
- PRODUCTION
- COMPETITIVE POSITIONING
- Summary 11 Premium de Venezuela CA: Competitive Position 2008
REFRIGERATION APPLIANCES IN VENEZUELA
- HEADLINES
- TRENDS
- COMPETITIVE LANDSCAPE
- PROSPECTS
- SECTOR DATA
- Table 24 Sales of Refrigeration Appliances by Subsector: Volume 2003-2008
- Table 25 Sales of Refrigeration Appliances by Subsector: Value 2003-2008
- Table 26 Sales of Refrigeration Appliances by Subsector: % Volume Growth
2003-2008
- Table 27 Sales of Refrigeration Appliances by Subsector: % Value Growth
2003-2008
- Table 28 Sales of Fridge Freezers by Format: % Breakdown 2004-2008
- Table 29 Sales of Fridges by Format: % Breakdown 2004-2008
- Table 30 Sales of Freezers by Format: % Breakdown 2004-2008
- Table 31 Sales of Fridge Freezers by Volume Capacity: % Breakdown
2004-2008
- Table 32 Sales of Fridges by Volume Capacity: % Breakdown 2004-2008
- Table 33 Sales of Freezers by Volume Capacity: % Breakdown 2004-2008
- Table 34 Sales of Electric Wine Coolers/Chillers by Format: % Breakdown
2004-2008
- Table 35 Company Shares of Refrigeration Appliances 2004-2008
- Table 36 Brand Shares of Refrigeration Appliances 2005-2008
- Table 37 Company Shares of Freestanding Fridge Freezers 2004-2008
- Table 38 Company Shares of Freestanding Fridges 2004-2008
- Table 39 Forecast Sales of Refrigeration Appliances by Subsector: Volume
2008-2013
- Table 40 Forecast Sales of Refrigeration Appliances by Subsector: Value
2008-2013
- Table 41 Forecast Sales of Refrigeration Appliances by Subsector: %
Volume Growth 2008-2013
- Table 42 Forecast Sales of Refrigeration Appliances by Subsector: %
Value Growth 2008-2013
HOME LAUNDRY APPLIANCES IN VENEZUELA
- HEADLINES
- TRENDS
- COMPETITIVE LANDSCAPE
- PROSPECTS
- SECTOR DATA
- Table 43 Sales of Home Laundry Appliances by Subsector: Volume 2003-2008
- Table 44 Sales of Home Laundry Appliances by Subsector: Value 2003-2008
- Table 45 Sales of Home Laundry Appliances by Subsector: % Volume Growth
2003-2008
- Table 46 Sales of Home Laundry Appliances by Subsector: % Value Growth
2003-2008
- Table 47 Sales of Automatic Washing Machines by Format: % Breakdown
2003-2008
- Table 48 Sales of Automatic Washing Machines by Volume Capacity: %
Breakdown 2005-2008
- Table 49 Sales of AutomaticTumble Dryers by Format: % Breakdown 2004-2008
- Table 50 Company Shares of Home Laundry Appliances 2004-2008
- Table 51 Brand Shares of Home Laundry Appliances 2005-2008
- Table 52 Forecast Sales of Home Laundry Appliances by Subsector: Volume
2008-2013
- Table 53 Forecast Sales of Home Laundry Appliances by Subsector: Value
2008-2013
- Table 54 Forecast Sales of Home Laundry Appliances by Subsector: %
Volume Growth 2008-2013
- Table 55 Forecast Sales of Home Laundry Appliances by Subsector: % Value
Growth 2008-2013
DISHWASHERS IN VENEZUELA
- HEADLINES
- TRENDS
- COMPETITIVE LANDSCAPE
- PROSPECTS
- SECTOR DATA
- Table 56 Sales of Dishwashers by Subsector: Volume 2003-2008
- Table 57 Sales of Dishwashers by Subsector: Value 2003-2008
- Table 58 Sales of Dishwashers by Subsector: % Volume Growth 2003-2008
- Table 59 Sales of Dishwashers by Subsector: % Value Growth 2003-2008
- Table 60 Sales of Dishwashers by Format: % Breakdown 2004-2008
- Table 61 Company Shares of Dishwashers 2004-2008
- Table 62 Brand Shares of Dishwashers 2005-2008
- Table 63 Forecast Sales of Dishwashers by Subsector: Volume 2008-2013
- Table 64 Forecast Sales of Dishwashers by Subsector: Value 2008-2013
- Table 65 Forecast Sales of Dishwashers by Subsector: % Volume Growth
2008-2013
- Table 66 Forecast Sales of Dishwashers by Subsector: % Value Growth
2008-2013
LARGE COOKING APPLIANCES IN VENEZUELA
- HEADLINES
- TRENDS
- COMPETITIVE LANDSCAPE
- PROSPECTS
- SECTOR DATA
- Table 67 Sales of Large Cooking Appliances by Subsector: Volume 2003-2008
- Table 68 Sales of Large Cooking Appliances by Subsector: Value 2003-2008
- Table 69 Sales of Large Cooking Appliances by Subsector: % Volume Growth
2003-2008
- Table 70 Sales of Large Cooking Appliances by Subsector: % Value Growth
2003-2008
- Table 71 Sales of Cookers by Gas/Electric: % Breakdown 2003-2008
- Table 72 Sales of Range Cookers by Format: % Breakdown 2003-2008
- Table 73 Sales of Ovens by Standard/Multifunctional: % Breakdown
2003-2008
- Table 74 Sales of Built-in Hobs by Format: % Breakdown 2003-2008
- Table 75 Sales of Freestanding Hobs by Format: % Breakdown 2003-2008
- Table 76 Company Shares of Large Cooking Appliances 2004-2008
- Table 77 Brand Shares of Large Cooking Appliances 2005-2008
- Table 78 Company Shares of Cookers 2004-2008
- Table 79 Company Shares of Ovens 2004-2008
- Table 80 Company Shares of Hobs 2004-2008
- Table 81 Company Shares of Built-in Hobs 2004-2008
- Table 82 Company Shares of Cooker Hoods 2004-2008
- Table 83 Company Shares of Built-in Cooker Hoods 2004-2008
- Table 84 Forecast Sales of Large Cooking Appliances by Subsector: Volume
2008-2013
- Table 85 Forecast Sales of Large Cooking Appliances by Subsector: Value
2008-2013
- Table 86 Forecast Sales of Large Cooking Appliances by Subsector: %
Volume Growth 2008-2013
- Table 87 Forecast Sales of Large Cooking Appliances by Subsector: %
Value Growth 2008-2013
MICROWAVES IN VENEZUELA
- HEADLINES
- TRENDS
- COMPETITIVE LANDSCAPE
- PROSPECTS
- SECTOR DATA
- Table 88 Sales of Microwaves by Subsector: Volume 2003-2008
- Table 89 Sales of Microwaves by Subsector: Value 2003-2008
- Table 90 Sales of Microwaves by Subsector: % Volume Growth 2003-2008
- Table 91 Sales of Microwaves by Subsector: % Value Growth 2003-2008
- Table 92 Company Shares of Microwaves 2004-2008
- Table 93 Brand Shares of Microwaves 2005-2008
- Table 94 Microwaves by Distribution Format: % Analysis 2003-2008
- Table 95 Forecast Sales of Microwaves by Subsector: Volume 2008-2013
- Table 96 Forecast Sales of Microwaves by Subsector: Value 2008-2013
- Table 97 Forecast Sales of Microwaves by Subsector: % Volume Growth
2008-2013
- Table 98 Forecast Sales of Microwaves by Subsector: % Value Growth
2008-2013
FOOD PREPARATION APPLIANCES IN VENEZUELA
- HEADLINES
- TRENDS
- COMPETITIVE LANDSCAPE
- PROSPECTS
- SECTOR DATA
- Table 99 Sales of Food Preparation Appliances by Subsector: Volume
2003-2008
- Table 100 Sales of Food Preparation Appliances by Subsector: Value
2003-2008
- Table 101 Sales of Food Preparation Appliances by Subsector: % Volume
Growth 2003-2008
- Table 102 Sales of Food Preparation Appliances by Subsector: % Value
Growth 2003-2008
- Table 103 Company Shares of Food Preparation Appliances 2004-2008
- Table 104 Brand Shares of Food Preparation Appliances 2005-2008
- Table 105 Forecast Sales of Food Preparation Appliances by Subsector:
Volume 2008-2013
- Table 106 Forecast Sales of Food Preparation Appliances by Subsector:
Value 2008-2013
- Table 107 Forecast Sales of Food Preparation Appliances by Subsector: %
Volume Growth 2008-2013
- Table 108 Forecast Sales of Food Preparation Appliances by Subsector: %
Value Growth 2008-2013
SMALL COOKING APPLIANCES IN VENEZUELA
- HEADLINES
- TRENDS
- COMPETITIVE LANDSCAPE
- PROSPECTS
- SECTOR DATA
- Table 109 Sales of Small Cooking Appliances by Subsector: Volume
2003-2008
- Table 110 Sales of Small Cooking Appliances by Subsector: Value 2003-2008
- Table 111 Sales of Small Cooking Appliances by Subsector: % Volume
Growth 2003-2008
- Table 112 Sales of Small Cooking Appliances by Subsector: % Value Growth
2003-2008
- Table 113 Unit Sales of Coffee Machines by Format: % Breakdown 2004-2008
- Table 114 Company Shares of Small Cooking Appliances 2004-2008
- Table 115 Brand Shares of Small Cooking Appliances 2005-2008
- Table 116 Forecast Sales of Small Cooking Appliances by Subsector:
Volume 2008-2013
- Table 117 Forecast Sales of Small Cooking Appliances by Subsector: Value
2008-2013
- Table 118 Forecast Sales of Small Cooking Appliances by Subsector: %
Volume Growth 2008-2013
- Table 119 Forecast Sales of Small Cooking Appliances by Subsector: %
Value Growth 2008-2013
SMALL KITCHEN APPLIANCES (NON-COOKING) IN VENEZUELA
- HEADLINES
- TRENDS
- COMPETITIVE LANDSCAPE
- PROSPECTS
- SECTOR DATA
- Table 120 Sales of Small Kitchen Appliances (Non-cooking) by Subsector:
Volume 2003-2008
- Table 121 Sales of Small Kitchen Appliances (Non-cooking) by Subsector:
Value 2003-2008
- Table 122 Sales of Small Kitchen Appliances (Non-cooking) by Subsector:
% Volume Growth 2003-2008
- Table 123 Sales of Small Kitchen Appliances (Non-cooking) by Subsector:
% Value Growth 2003-2008
- Table 124 Company Shares of Small Kitchen Appliances (Non-cooking)
2004-2008
- Table 125 Brand Shares of Small Kitchen Appliances (Non-cooking)
2005-2008
- Table 126 Forecast Sales of Small Kitchen Appliances (Non-cooking) by
Subsector: Volume 2008-2013
- Table 127 Forecast Sales of Small Kitchen Appliances (Non-cooking) by
Subsector: Value 2008-2013
- Table 128 Forecast Sales of Small Kitchen Appliances (Non-cooking) by
Subsector: % Volume Growth 2008-2013
- Table 129 Forecast Sales of Small Kitchen Appliances (Non-cooking) by
Subsector: % Value Growth 2008-2013
VACUUM CLEANERS IN VENEZUELA
- HEADLINES
- TRENDS
- COMPETITIVE LANDSCAPE
- PROSPECTS
- SECTOR DATA
- Table 130 Sales of Vacuum Cleaners by Subsector: Volume 2003-2008
- Table 131 Sales of Vacuum Cleaners by Subsector: Value 2003-2008
- Table 132 Sales of Vacuum Cleaners by Subsector: % Volume Growth
2003-2008
- Table 133 Sales of Vacuum Cleaners by Subsector: % Value Growth 2003-2008
- Table 134 Unit Sales of Vacuum Cleaners by Format: % Breakdown 2004-2008
- Table 135 Unit Sales of Vacuum Cleaners by Power Source: % Breakdown
2004-2008
- Table 136 Company Shares of Vacuum Cleaners 2004-2008
- Table 137 Brand Shares of Vacuum Cleaners 2005-2008
- Table 138 Forecast Sales of Vacuum Cleaners by Subsector: Volume
2008-2013
- Table 139 Forecast Sales of Vacuum Cleaners by Subsector: Value 2008-2013
- Table 140 Forecast Sales of Vacuum Cleaners by Subsector: % Volume
Growth 2008-2013
- Table 141 Forecast Sales of Vacuum Cleaners by Subsector: % Value Growth
2008-2013
IRONS IN VENEZUELA
- HEADLINES
- TRENDS
- COMPETITIVE LANDSCAPE
- PROSPECTS
- SECTOR DATA
- Table 142 Sales of Irons: 2003-2008
- Table 143 Sales of Irons: % Growth 2003-2008
- Table 144 Unit Sales of Irons by Format: % Breakdown 2004-2008
- Table 145 Company Shares of Irons 2004-2008
- Table 146 Brand Shares of Irons 2005-2008
- Table 147 Forecast Sales of Irons: 2008-2013
- Table 148 Forecast Sales of Irons: % Growth 2008-2013
PERSONAL CARE APPLIANCES IN VENEZUELA
- HEADLINES
- TRENDS
- COMPETITIVE LANDSCAPE
- PROSPECTS
- SECTOR DATA
- Table 149 Sales of Personal Care Appliances: 2003-2008
- Table 150 Sales of Personal Care Appliances: % Growth 2003-2008
- Table 151 Sales of Hair Care Appliances by Format: % Breakdown 2003-2008
- Table 152 Sales of Body Shavers by Type: % Breakdown 2003-2008
- Table 153 Company Shares of Personal Care Appliances 2004-2008
- Table 154 Brand Shares of Personal Care Appliances 2005-2008
- Table 155 Forecast Sales of Personal Care Appliances: 2008-2013
- Table 156 Forecast Sales of Personal Care Appliances: % Growth 2008-2013
AIR TREATMENT PRODUCTS IN VENEZUELA
- HEADLINES
- TRENDS
- COMPETITIVE LANDSCAPE
- PROSPECTS
- SECTOR DATA
- Table 157 Sales of Air Treatment Products: 2003-2008
- Table 158 Sales of Air Treatment Products: % Growth 2003-2008
- Table 159 Company Shares of Air Treatment Products 2004-2008
- Table 160 Brand Shares of Air Treatment Products 2005-2008
- Table 161 Forecast Sales of Air Treatment Products: 2008-2013
- Table 162 Forecast Sales of Air Treatment Products: % Growth 2008-2013