BSH Home Appliances aims to double sales
BSH Home Appliances, distributor of Siemens' premium home appliances, yesterday expressed confidence in the outstanding growth of the high-end home appliance market in Thailand, which should help it double its sales in six years.
Tomas Alonso, the firm’s managing director, said the company targets sales of Siemens products to increase by 20 per cent this year, up from 12.6 per cent last year.
The growth drivers will be new premium products, including built-in ovens, washing machines and refrigerators.
The launch is in line with Siemens‘ strategy to retain its position as the leader in the premium built-in appliance market.
Siemens now commands 35 per cent of the premium electric and home appliance market, which enjoys continuous growth.
High-end products account for 15 per cent and lower-end products for 35 per cent.
"In the premium segment, we have seen more new players, mainly from Japan and South Korea, penetrating the market. This is added onto existing players of only four to five brands," he said.
The economic slowdown has about dried up the sales of the medium to low-end segments.
Many brands need to expand their portfolio to cover more luxury products to maintain sales and market share, as well as to create a more premium image.
"Doing marketing activities for electric and home appliance products in Thailand is quite difficult. The market is really competitive.
"Thai consumers are well educated. They will find product information and compare brands before making their buying decision.
"They will also consider many factors, especially promotions. The local competition will also be highlighted in terms of innovation, design, quality and branding," he said.
BSH Home Appliances yesterday held the "Siemens – The Master Taste" event to launch a new range of premium built-in ovens offering excellent performance and innovative designs.
A highlight of the IQ700 series is the HN678G4S1 model, which presents the first combination of oven, steam oven and microwave all in one.
"The new range of premium built-in ovens targets both retail and project customers. Of total sales, the retail market will represent 80 per cent while the project business will account for the rest," he added.
