Boston, MA -- (ReleaseWire) -- 06/03/2014 -- At the end of December 2012, the local retailer Tiendas Efe SA purchased Total Artefactos SA, an important competitor in this arena. With this move, Tiendas Efe SA became the new leader of electronics and appliance specialist retailers in Peru at the global ownership level, in terms of retail value sales share and number of outlets. The company owned two brands in 2013, namely Tiendas Efe and La Curacao, which accounted for a combined retail value sales share of 30%, an increase of two percentage points from 2012. In response, the former leading player Importaciones Hiraoka SA increased the frequency of its discounts and promotions, not only when using its store credit card, but also other credit cards with which the retailer had alliances. Furthermore, the company extended the range of products offered under its private label, Miray, which appealed to consumers looking for standard quality products at affordable prices.
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The two leading companies in electronics and appliance specialist retailers in Peru, Tiendas Efe SA, with its Tiendas Efe and La Curacao brands, and Importaciones Hiraoka SA, accounted for a combined retail value sales share of 52% in 2013. These retailers benefited from offering a wide range of products, periodically launching new products, accepting a wide range of credit cards and offering special promotions for consumers using their store credit cards. Furthermore, they periodically expanded their private label offering, which proved an attractive option for consumers looking for more affordable products of standard quality.
Electronics and appliance specialist retailers is expected to see a constant value CAGR of 7% over the forecast period. As Peruvian consumers are expected to see further strengthening of their purchasing power and greater access to credit cards, they are likely to increase their purchases of non-essential items, including electronics and appliances. Furthermore, tight competition is likely to see players increasingly rely on promotions to appeal to more consumers.
Discover the latest market trends and uncover sources of future market growth for the Electronics and Appliance Specialist Retailers industry in Peru with research from Euromonitor's team of in-country analysts.
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The Electronics and Appliance Specialist Retailers in Peru market research report includes:
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