Market Trends of MEA Home Appliances Industry
This section covers the major market trends shaping the MEA Home Appliances Market according to our research experts:
Economy Stability Is Going to Direct the Future Of The Market
The UAE home appliance industry faced difficulty during the COVID-19 pandemic in terms of growth due to the interruption in global trade. With several measures taken by the governments, the situation has become progressive, and gradually the economy and the industry started to settle. The consumers in UAE have started to accept VAT and changed prices whereas South Africa has come out of recession and the market for home appliances has started to record growth numbers. The market is estimated to grow constantly in the forecasted period with enriching economic stability in the respective region. The economic instability helped the local manufacturers and assemblers in scoring a moderate sales number which made a difference for them to save from hiked import charges and taxes associated with them. The various strategies like discounts/ various promotions applied during that period also contributed to the overall sales revenue for the segment.
Online Sales Are Increasing Yet Retail Stores Still Hold High Share in the Market
The retailing segment in the region is also changing its face. Though consumers are seeking for a shift from buying their appliances from traditional stores and are preferring online platforms, in majority regions the offline sales are still at the advantage side in the market share volume. Various hypermarkets, 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 at the tough times. These strategies helped the market and the customers at the same time by contributing to the noticeable market share for the economy and for the customer to breath at the tough times because of the recession and hiked prices because of VAT introduction.
