Brazil Home Appliances Market - Growth, Trends, and Forecast (2020 - 2025)

Mid 2012-2016 economic crisis has made it hard for most industries in Brazil to score good market sales. The home appliances industry was no exception and had been trying to score a growth number. The poor performance of the economy is the effective purchasing power of the citizen, thus, making it hard for the industries to generate higher revenues. This economic uncertainty has made them prioritize their needs and altered the way they look for in products. Customers started to switch multi-functional products than the single utility and less energy and water-conserving ones. The growing global warming is also forcing customers to opt for products with less harmful emissions. Even though people who use the internet are in moderate numbers in Brazil, internet-based sales do not count to the optimum level. The number of customers who prefer to check for different appliances online to decide what they should purchase is high. In contrast, most of them prefer to buy major appliances form different types of stores. A trend in customer behavior was observed that they prefer to purchase less pricy appliances from different online platforms where they are highly concerned to purchase the high pricy and major appliances, as there is a fear of faulty functional product they may get or they have trust issues with post-sale service cannot be offered by the retailer. Many local online retailers are trying to address these concerns and are trying to gain customer trust to compete with the leader in this platform. In order to compete with global online platforms, local store retailers are focusing on introducing online platforms. They are also providing an option to choose a product online and get it delivered from their store and vice versa.

Key Market Trends

Increasing Cooking and Small Kitchen Appliances Sales are Shaping the Market

Increasing concerns of people to cook healthy are driving the market for cooking and small kitchen appliances. The changing face of the economy is also enabling the customers to spend a little on the products that can ease their daily activity. The market for cooking appliances, especially for cookers, is increasing. The changing family size, the younger generation moving to urban, increasing interest in health and wellness, and the growing number of single-person households is also driving the market for these cooking and small kitchen appliances.

Store Based Sales are Dominating the Market over E-commerce Platforms

Multi-brand stores have grabbed major sales revenue during the study period. Consumer preference can mostly be seen giving to Multi-brand stores rather than the mono-brand or dedicated brand store as they allow them to compare across the brands that are available for their estimated budget. Most of the customers dedicated themselves to certain brands when purchasing a major home appliance. This is more common in the customers that belong to the 40+ age group, whereas it is recorded that millennials are more interested in experimenting with brands. There may be a great scope for an increase in online-based sales when the concerns of the customers are addressed, and this will also widely depend upon the performance of the economy.

Competitive Landscape

The report covers major international players operating in Brazil Home Appliances Market. The home appliances market in Brazil holds a great scope for innovative products, making a difference from the existing ones in terms of quality. The market also holds a great scope for online retailers to penetrate by providing advanced services and additional value-added services.

Reasons to Purchase this report:

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