Sales volume surges! South Korea's home appliance market continues to heat up

Last year, the epidemic swept the world, and the epidemic in South Korea was particularly severe. People's indoor life increased. A survey showed that South Korea's home appliance market grew by double digits compared with last year.

According to a data report by global market research company GfK on the 4th , sales of 23 major household appliances such as TVs , air conditioners and washing machines increased by 14% compared with last year.

According to statistics, IT equipment such as desktops and laptops increased by 17%, and kitchen equipment such as gas and electric stoves increased by 20%.

In addition, the markets for essential home appliances such as washing machines , televisions and refrigerators all showed growth rates of more than 15%, and the markets for new home appliances such as dishwashers , clothing organizers , electric stoves and coffee machines also grew by more than 30%.

GfK said: "As people spend more time at home, demand for home appliances is increasing. The trend of 'alternative consumption' of home appliances instead of travel and the government's first-efficiency home appliance refund program have combined to produce this result."

It is understood that the purchasing channels of physical channels increased by 8% compared with the previous year , the online channels achieved a growth rate of 25% , and the online channel social commers had the highest growth rate, increasing by 58% compared with the previous year.

In addition, more than 50% of the home appliance market is still dominated by offline channels, but the proportion of online channel sales continued to grow, from 34.4% in 2019 to 37.6% last year, an increase of about 3 percentage points.

" 2021 is a year of market growth, with home appliances focusing on values ​​such as interior , convenience and leisure ," said In-Soo Choi, a researcher at GfK.

He added: "If the epidemic is effectively controlled after the vaccine is widely available this year, the growth of the domestic home appliance market may slow down, but the growth of the home appliance market based on online channels is expected to continue. "

Now buyers are more concerned about home appliances and furniture , and the business opportunities behind this are gradually emerging. Sellers can also seize the business opportunities to develop new ideas and create popular products.

South Korea

Home appliances

Online Sales