Consumer Appliances in Asia Pacific

Delivery

This report comes in PPT.

Key findings

China still seeing declining sales in 2023

The post-pandemic reopening of the country has not completely offset the negative impact of decreasing consumer confidence in China. The country continued to face economic uncertainties, causing a rise in consumer uncertainty about future income. This resulted in another year of declining demand for consumer appliances in China in 2023.

Localisation benefiting consumer appliances in India

Localisation is positively impacting Indian consumer appliances as players increasingly invest in building new manufacturing facilities or expanded existing ones within the country. This translates into better demand planning for players as well as easier customisation of offerings to suit local preferences, while consumers also benefit from lower prices and fewer stockouts.

Panasonic extends its product development cycle

Panasonic has made the product development cycle longer for its products. Previously, it was usually one year, which has now been extended to two or three years. This means that the development team can focus more on new features that will benefit consumers in the longer term. Ideally, it will therefore generate more meaningful product enhancements for consumers.

Energy efficiency expected to be to the fore in Indonesia

Reducing energy consumption will likely remain a key concern for Indonesian consumers when selecting which products to buy, given the high cost of electricity and with most local households having a power capacity of only 2,200 watts. Manufacturers will likely therefore be launching more energy-efficient consumer appliances to meet this growing demand, particularly important for products in regular use, such as refrigerators or air conditioners.