By Tammy; 4/23/2013
The Thai market has increased by 12%, an audit of consumer spend on domestic appliances has found. Jasmine Lim, Account Director for Home & Lifestyle in GfK Asia, said, “In recent times, our findings have shown escalating sales of higher-end appliances— indication of consumers having greater purchasing power and are switching from buying basic models to the more sophisticated product ranges.” The market across the five regions of Singapore, Malaysia, Indonesia, Vietnam and Thailand was worth more than US$804 million, over the last year. The growth is attributed to regional consumers buying 1.6 million more small household appliances such as food preparation appliances, irons, rice cookers and vacuum cleaners compared to the previous year. “The increasing affluence of households, on top of the rising need for convenience has brought about an upgrading phenomenon which we are witnessing especially in developing countries,” said Jasmine. Competition in the segment is fierce, with China made products, aggressively expanding its range of products Thai offering up-ward (Source).