Consumer Appliances in Norway - a new market research report on companiesandmarkets.com
PR-Inside.com: 2014-05-01 06:23:02
2013 saw growth in retail volume terms for consumer appliances in Norway. Indeed volume growth in 2013 was faster than the CAGR recorded over the review period as a whole. Both major and small appliances registered positive growth in 2013. Unlike many other Western European economies, the Norwegian economy is demonstrating itself to be particularly robust and strong in a generally poor global economy. The strength of the Norwegian economy is supporting volume growth for consumer appliances as consumers are secure in their individual financial well-being.
The favourable economic climate is supportive of volume growth. Built-in major appliances in particular continues to post strong growth, driven by new housing builds, renovation projects and the fact that many holiday cottages now have electric power for the first time. Growth in the number of households on the market is also supportive of volume growth as product innovations such as robotic vacuum cleaners continued to post explosive volume growth in 2013. These factors combined are presenting a favourable climate for consumer appliances in Norway.
The competitive environment for consumer appliances in Norway is relatively concentrated with multinationals clearly dominating volume sales. The top three market players are multinationals and combined, these three players control a volume share in excess of 30% in 2013. The domination of multinational players and their representative brands can be attributed to the vast economies of scale that international operations are able to generate and smaller domestic players simply do not have the financial muscle to compete with such players. Nevertheless and despite the strong position held by multinationals, domestic players do have measurable market positions. This is especially true in small appliances where domestic player Wilfa AS, for example, has established itself as an important market player.
Store-based retailing, led by electronics and appliance specialist retailers multiples, continued to dominate the retail distribution of consumer appliances in Denmark during 2012. However a common theme in review period observations is the year-on-year growth of internet retailing, and 2013 results were no different in this regard. The convenience offered by the internet retailing sales channel is the key reason as to why the channel is growing at the expense of more established store-based sales channels.
Consumer appliances in Norway is expected to post positive volume growth over the forecast period. Forecast period growth is set to be driven by rising consumer demand for energy-efficient consumer appliances with attractive aesthetic designs. Additionally this growth will be helped by a growing number of households on the Norwegian market and the demands for consumer appliances this growth entails. Replacement sales will remain an important driver of volume sales as manufacturer innovations, such as energy efficiency and the development of so called "smart" appliances, will encourage consumers to replace outdated models.
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