PROSPECTS AND OPPORTUNITIES
Development of innovative products can be a way to overcome stagnation.
The stagnation being seen in microwaves could present opportunities for new or existing players to develop innovative products. Consumers are seeking efficient and modern products, but brands have failed to innovate and offer attractive models and this has led to a lack of differentiation.
Multifunctional cooking options and smart features could still breathe new life into microwaves
Microwaves have been a kitchen staple in many Colombian homes for decades. However, they are seen as lacking innovation and having limited functionality.
Price is king
While new product development and marketing could be important in encouraging more people to buy microwaves, it is still expected that price will remain one of the motivations. Therefore, players will likely employ aggressive pricing strategies and promotions to push sales, while they could also adopt new marketing approaches such as an increased focus on digital marketing.
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Overview:
Understand the latest market trends and future growth opportunities for the Microwaves 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 Microwaves 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.
The Microwaves in Colombia report includes:
- Analysis of key supply-side and demand trends
- Detailed segmentation of international and local products
- Historic volume and value sizes, company and brand market shares
- Five year forecasts of market trends and market growth
- Robust and transparent research methodology, conducted in-country
This report answers:
- What is the market size of Microwaves in Colombia?
- Which are the leading brands in Colombia?
- How are products distributed in Colombia?
- To what extent has COVID-19 and accordant macroeconomic and retail disruption impacted demand?
- How are considerations such as urban development and the rise in single-person households determining sales growth?
- Where is future growth expected to be most dynamic?
Microwaves in Colombia - Category analysis
KEY DATA FINDINGS
Sales of microwaves continue to fall in 2024
Focus on healthy living has negative impact on sales
Multinationals remain on top in 2024
Development of innovative products can be a way to overcome stagnation.
Multifunctional cooking options and smart features could still breathe new life into microwaves
Price is king
Consumer Appliances in Colombia - Industry Overview
Consumer appliances in 2024: The big picture
2024 key trends
Retailing developments
What next for consumer appliances?
DISCLAIMER
The following categories and subcategories are included:
Microwaves
- Built-in Microwaves
- Freestanding Microwaves
Microwaves
Microwaves use electromagnetic waves to heat food. When the waves are absorbed by water, fats or sugars, they‘re converted directly into atomic motion – or heat. Unlike conventional ovens, in which heat is conducted from the outside of the food towards the centre, the microwave‘s radio waves target the water and fat molecules evenly, throughout the food.
See all of our definitionsWhy buy this report?
- Gain competitive intelligence about market leaders
- Track key industry trends, opportunities and threats
- Inform your marketing, brand, strategy and market development, sales and supply functions
This report originates from Passport, our Microwaves research and analysis database.
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