Summary

The home appliances market in Chile is a dynamic. It is experiencing increasing growth in sales volume. The economic performance of the country is expected to generate a great scope for the flourishing market in the future. The consumers are switching to less energy and water-conversing products, due to increasing global warming and climate changes. The higher level of internet penetration failed to record the same range of increase of the sales number through different e-commerce platforms. However, it gave the consumers access information about the product they are going to buy, right from comparing the appliances across brands to selecting their best budget fit appliance over various available ones. An increase in brand loyalty was also observed in the region, when it comes to major appliances, whereas more preference is being given to multi-utility features of the brands in small appliances. The sales of aesthetically impressive small appliances are increasing, when they are provided in the customer budget range. Innovation and technological advancements are driving the number of replacement sales. The market for the small home appliances is expected to grow, owing to the factors, like their affordable prices, lesser presence rate in the market, the improving innovation and automation they hold, and the perfection they bring in easing people’s life by taking off a huge load off the working population, which comforts consumers by minimizing the time they spend on tasks.

Key Market Trends

Innovative Kitchen Appliances Grabbing a Higher Portion of the Market

Multi-utility appliances are catching the attention of consumers more than the regular appliances, which hold limited utility. The market for kitchen appliances is growing rapidly, owing to factors, like the growing younger generation of customers, who are settling their new homes, and their increasing preferences to cook healthy foods. Customers are also giving high importance to products that hold a large capacity, with an aesthetically pleasing appearance, which occupies less space, along with the high efficiency and durability that the products hold.

Store-based Sales are Recording a Major Share of the Market

The retailing segment in the region is also changing. Although consumers are seeking a shift from buying their appliances from traditional stores and preferring online platforms, in majority of the regions, the store-based sales are still more beneficial in the market share volume. Various hypermarkets and multi-brand stores managed to score a moderate number of sales volumes in most parts of the regions, with dynamic promotional campaigns, which helped the market to score the number even during tough times. These strategies helped the market and the customers, by contributing to a noticeable market share.

Competitive Landscape

The report covers major international players operating in the Chile home appliances market. The home appliances market in Chile holds high opportunities for new players who are entering the market to bring qualitative products. The country has a great scope for players who can bring qualitative products in an affordable price range.

Additional Benefits:

The market estimate (ME) sheet in Excel format
3 months of analyst support

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