“All the products in the ‘large home appliances’ (air conditioners, fridges, washing machines, dishwashers and cookers i.e.) category saw sales up 17% to 20% in value and in the number of units. We are still benefiting from the purchasing boom in 2006-2008, when loans were easy to take – all one needed was a valid ID,” Armaselu told ZF.
“Back then a lot of people bought home appliances and the average life span thereof is six to nine years. The time frame they should be replaced in started last year.”
According to ZF calculations, the large home appliances market stood at more than EUR170 million in the first half, while in the year-ago period it stood at almost EUR150 million, according to the Temax survey of market research company GfK.
The increase of the home appliances market is also because of several macroeconomic factors: three years of economic growth in a row, the cut of food VAT, of the key rate, the dwindling deposit interest rates etc.
Samsung only sells some of the products part of the large home appliance segment in Romania, such as refrigerators, washing machines, dishwashers, air conditioners and electric cooktops.
“The large home appliances market that Samsung addresses stands at about 800,000-850,000 units at a price of 1,500 to 1,800 lei (EUR339 to EUR407). About 40% to 50% of the sales are made in the first half and 60% to 50% in the second,” Armaselu added.
Samsung sales growth was higher on all its home appliance segments than that of each respective segment. Its sales on the refrigerator segment went up 20% in the first half, while the entire segment rose by 15%.
A new niche has been added to the home appliances market: Internet connected appliances. Samsung is currently selling air conditioners and washing machines that can be controlled remotely via a dedicated smartphone application.
Samsung also sells small home appliances in Romania, such as microwave ovens and vacuum cleaners and is the leader of both segments with a 40% and 30% market share.
(English version by Loredana Fratila-Cristescu)