South Africa Home Appliances - Market Share Analysis, Industry Trends & Statistics, Growth Forecasts 2020 - 2029

The South Africa Home Appliances Market is expected to register a CAGR of greater than 5% during the forecast period(2024-2029).

South Africa has been continuing to face economic challenges with the country. Home appliances, however, have become an essential part of modern lifestyle. On average, the South African household owns five appliances. Population growth, technology infiltration, rising purchasing power, and people's improving lifestyle trends are some of the critical factors in the requirements and purchase decisions of home appliances in the market. South Africa has a low level of value and volume of home appliances, but it is expected to be one of the fastest-growing markets in the future. Issues evolving from energy and water utilization by major appliances remain apparent in various categories of home appliances in South Africa.

The post-COVID-19 scenario of the South African home appliances market has seen a significant increase in demand as people spend more time at home. With the shift towards remote work and increased focus on home entertainment, there is a growing need for appliances such as refrigerators, washing machines, and televisions.

South Africa Home Appliances Market Trends

Online Channel of Distribution is Growing, while Retail Channel Remains Dominant

Non-grocery professionals and mixed retailers remain the dominant point of purchase for most consumer appliances, although online selling has been continuing to grow throughout the segment. The recognition of traditional store-based retailing channels can be attached to consumers wanting to view and inspect an appliance before making their final buying decision. Online distribution channel of home appliances has quite a low market share. Still, it is the fastest-growing segment on account of the rising awareness among the people about the advanced and convenient buying platforms. Vendors have been working to improve their e-commerce presence because of rapid growth in the sales of appliances through internet retailing.

Increase in Demand of Freezers in South Africa Market

Freestanding refrigerators have been gaining popularity in households in the South African appliance market. The factors for the rise in its momentum can be attributed to consumer’s preference for durable, fast-cooling, and spacious freezers, which have been backed with a warranty. Freestanding fridge freezers remain the leading format found in households, followed by freestanding freezers and, lastly, freestanding fridges. Smart home appliances are also increasingly popular with consumers in South Africa. Players have also been innovating in terms of the energy efficiency of their appliances to meet the rising demand of people in the country. Consumers have been becoming more aware of energy consumption and are getting educated about energy ratings by various players in the market. Players are also promoting their brands in combination with mass retailers.

South Africa Home Appliances Industry Overview

The South African home appliance market remains competitive, with both the local and international players trying to capture the market. Some of the players currently dominating the market include Haier Electronics Group Co. Ltd., HiSense, Miele, Whirlpool Corporation, and LG Electronics. Several players are making increased attempts to emphasize the energy efficiency of their household appliances. Players have adopted cross-industry promotions for in-home laundry appliances to increase their share in non-price competition. Marketing and advertising campaigns are other important strategies followed by local players to align themselves with international trends and influence consumer choices.

Additional Benefits:

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

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