Good news for a wide range of industries – recently released figures show that the global domestic appliance market is on its way up in 2015, making now the ideal time to capitalise on the expanding global markets. So if you are involved in or are looking to move into the manufacturing of components and materials, software, marketing or distribution for these appliances, these upward trends could provide you with a great opportunity. Below we look at how these trends can help you pinpoint the countries where you can see growth, increase your market share and how to go about it.
In Western Europe, there is a sustained trend towards ‘smarter’ appliances to make life easier, using software and technology to interact directly with users through screens and smartphones. There is steady growth in countries such as Britain and Germany, where the economy has been relatively stable, but the good news comes from those hit hardest by the recession, with Greece and Spain’s domestic appliance market growing by 12% and 9% respectively. As it is one of the top 5 languages used on the web, it makes good sense to have your website and smart appliances translated into Spanish.
In the east, one country you may not have thought about targeting is Hungary – due to a government subsidy for efficient freezers and fridges, growth of 14% is reported, with Poland and the Czech Republic not too far behind.
The rise of the middle class in India has created a whole new opportunity for higher quality goods, with a 7% increase in the Indian economy projected this year and one of the largest populations in the world, it can’t be ignored as a key market.
In Russia, although there is currently a crisis ongoing with the rouble, there is always the potential for it to immediately bounce back. With costs and population density being key factors for Russians in their purchasing decisions, energy efficiency and larger machines have seen an increase in sales, with online purchasing being the preferred method.
Brazil is one of the most important markets for white goods, and with its youthful population and a growing preference for online business (see our blog on why should be doing business with Brazil). E-commerce has also been successful in China as well, with sales improving by 5% and higher quality, European-style appliances becoming increasingly desired – so having your website localised into Russian, Chinese and Portuguese in combination with multillingual SEO would be a good approach to take to further your business.