Retail e-commerce saw a dramatic increase in its share of distribution within large cooking appliances following the outbreak of COVID-19 and although this growth has since slowed down the channel is still seen to have significant potential. Major players will likely continue to prioritise the online channel as they look to grow their sales with younger consumers in particular increasingly doing much of their shopping online.
It is likely that in the forecast period, players operating within large cooking appliances will attempt to gain market share by employing aggressive pricing strategies and promotions. Although there is expected to be an improvement in the economy over the forecast period there is still expected to remain a high degree of price sensitivity and thus players may need to use attractive prices and promotions to entice consumers into making a purchase.
Innovation will likely play an important role in lifting the category out of its slump, with new features having the potential to encourage replacement sales. Consumers are expected to increasingly look for energy efficient products with these not only being better for the environment but also having the potential to provide long-term savings on utility bills.
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Understand the latest market trends and future growth opportunities for the Large Cooking Appliances industry in Colombia with research from Euromonitor International's team of in-country analysts – experts by industry and geographic specialisation.
Key trends are clearly and succinctly summarised alongside the most current research data available. Understand and assess competitive threats and plan corporate strategy with our qualitative analysis, insight and confident growth projections.
If you're in the Large Cooking Appliances industry in Colombia, our research will help you to make informed, intelligent decisions; to recognise and profit from opportunity, or to offer resilience amidst market uncertainty.
Large Cooking Appliances
The large cooking appliances includes freestanding cookers, built-in ovens, built-in hobs and cooker hoods.
See all of our definitionsThis report originates from Passport, our Large Cooking Appliances research and analysis database.
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