Boston, MA -- (ReleaseWire) -- 06/03/2014 -- Volume sales of small kitchen appliances (non-cooking) fell to a single-digit growth rate in 2013 for the first time since the recession in 2008/2009. Double-digit current value growth returned over the review period after two successive years of slow growth during the recession. During 2008 and 2009, despite fairly-strong volume growth exceeding an average of 10% per year, the category recorded slower current value growth due to consumers preferring cheaper products and retailers using price discounts to drive sales.
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Guney Ithalat ve Pazarlama (brands Arzum and Felix) led small kitchen appliances (non-cooking) in 2013 with an 18% volume share. The company only has a presence within small appliances yet it has been one of the most-significant players with its brand Arzum since the 1990s. Arcelik came a close second in 2013, as it transferred its strong brand reputation and presence from operating in a large number of categories within consumer appliances. The company also has countrywide geographical coverage with a large number of dealers, resellers and after-sales services. Both companies owe their leading positions within small kitchen appliances (non-cooking) to their close tracking of local consumers' needs and demands.
Value sales of small kitchen appliances (non-cooking) are expected to grow at a constant CAGR of 9% over the forecast period, while volume sales are predicted to grow at a CAGR of 6%. The higher expected constant value growth is a result of unit prices being predicted to increase because of Turkish consumers' growing preference for products with improved design features. When compared to the review period, constant value growth is set to be higher over the forecast period in comparison to over the review period due to failure of manufacturers to introduce new products to small kitchen appliances (non-cooking) to drive volume and value growth.
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The Small Kitchen Appliances (Non-Cooking) in Turkey 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
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