Market Trends of Latin America Home Appliances Industry
Rising Sales of Major Appliances is Driving the Market
Among the home appliance sales in Latin American countries, major appliances exist with a higher revenue share in comparison to small appliances. Brazil, in its home appliances, had more than 60% of the sales share occupied by the major appliances, with washing machines, refrigerators, cookers & ovens dominating the market. The same trend exists in the major Latin American countries of Mexico, Argentina, and Columbia. With this trend, global manufacturers are entering the Latin American market to reap the existing market benefits. As a strategy to occupy a major market share manufacturers are enabling their major appliances with smart features of Wi-Fi and remote connectivity and launching them in the Latin American market. With these emerging trends, the major appliance market in the region is expanding more rapidly than small home appliances.
Increase in Online Sales is Driving the Market
Post-COVID, with an increasing revenue of home appliances in the Latin American market, the revenue earned from online sales channels had also observed a significant increase. Brazil was existing with the online revenue share of home appliances at more than 15% last year. This rise in sales through online channels is leading to an increasing number of retailers and manufacturers offering their products through E-commerce and direct website channels. Brazil, Argentina, and Costa Rica emerged as Latin American countries with the largest E-commerce penetration of more than 60%, creating opportunities for home appliances manufacturers to diversify their sales channels and revenue. With a rising E-Commerce user in the region and increasing online revenue share of home appliances, Latin America provides an opportunistic market for home appliance online sales.
