Boston, MA -- (ReleaseWire) -- 06/05/2014 -- The economic downturn in Portugal has lasted longer than expected, and the more severe impact caused most consumers to avoid unnecessary expenditure, and instead fix their old appliances rather than buying new ones. Indeed, whilst appliance manufacturers suffered from this situation, repair centres took advantage of it. Moreover, the continuing decline in house construction strongly affected the category, with fewer people able to invest in buying and equipping a new house or apartment.
The majority of Portuguese consumers continue to prefer refrigeration appliances offered under established brands. Electrolux remained the leading company in refrigeration appliances in 2013, accounting for a 19% share of retail volume sales. The company distributes three major brands in Portugal: Zanussi-Electrolux, its leading brand with an 8% volume share in 2013; AEG-Electrolux, with a volume share of 6%; and Electrolux, with a 5% volume share. The company has maintained its leading position in refrigeration appliances for several consecutive years, thanks mainly to its wide product portfolio in the category and its strong presence across the price spectrum. Electrolux offers premium, mid-priced and economy refrigeration appliances, and is also engaged in a high degree of long term brand-building for all of its brands in refrigeration appliances.
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Over the forecast period consumer confidence is expected to decline in Portugal, as the increasingly pessimistic view of the future personal economic circumstances of many Portuguese consumers is set to prevail. This reflects the poor economic outlook for Portugal, which is likely to have a negative influence on the disposable incomes of Portuguese consumers during the forecast period.
Discover the latest market trends and uncover sources of future market growth for the Refrigeration Appliances industry in Portugal with research from Euromonitor's team of in-country analysts.
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The Refrigeration Appliances in Portugal market research report includes:
- Analysis of key supply-side and demand trends
- Detailed segmentation of international and local products
- Historic volumes and values, company and brand market shares
- Five year forecasts of market trends and market growth
- Robust and transparent market research methodology, conducted in-country
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