Boston, MA -- (ReleaseWire) -- 06/11/2014 -- In 2013 large cooking appliances was greatly affected by the credit crunch, which forced Portuguese consumers to reduce their consumption, and to fix old or damaged appliances, rather than buying new ones. As a result, all categories registered declines in both volume and current value terms in 2013. However, repair services and the availability of substitute parts are strategic factors in this area. Repair centres and retailers of appliance replacement parts therefore increased their business. Furthermore, the halt in new house/apartment construction contributed to the decline, as the category includes primary, long-life products, mainly purchased for new or renovated homes.
As in other major appliances categories, BSHP Electrodomesticos was by far the leader in large cooking appliances in 2013. The company benefits from strong brand names. Portuguese consumers value products from Germany, and believe them to be superior in quality to other brands. Furthermore, BSHP Electrodomesticos is also well-positioned in terms of its product offerings at every price point. The company has its Bosch brand for high-end consumers, all the way down to its Balay brand for more cost-conscious consumers. When the shares of all three BSHP brands are combined, the company accounted for a 21% share of volume sales of large cooking appliances in 2013.
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Large cooking appliances is not projected to return to growth immediately in 2014, because, as for the whole of major appliances, the economic instability predicted for 2014 will continue to shape Portuguese consumers' purchasing habits, leading them to postpone the acquisition of expensive products for as long as possible.
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The Large Cooking Appliances in Portugal market research report includes:
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- Historic volumes and values, company and brand market shares
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