The Argentine home appliance market grew 20% in sales in the first quarter of the yearwhile it was in that period among the items that had the highest number of transactions through the Now 12 program.
According to a market study by the consulting firm GfK, sales of household appliances during the first quarter of the year registered a 20% growth in units sold, compared to the same period in 2021.
During the period, air conditioning was the sector that led growth, given that segment sales grew more than 33.4% in terms of units, helped by the high temperatures of the summer season.
In this sense, the air conditioning segment grew 55% in units sold in the total for the quarter, with growth peaks of 93% in January.
“Regarding the back to school event, notebooks showed a positive growth of 32% in units sold compared to 2021 while multifunction printers only 4%. It is worth noting that the growth of notebooks in the online channel was 74% in units, positioning itself as the fifth best-selling category in this channel, during the first quarter,” said Milagros Bin, retail manager of the specialized consulting firm GfK Argentina.
On the other hand, he pointed out that “the online channel represented 19% of the units sold in the first quarter of 2022, thus showing a growth of 18% compared to the same period in 2021”.
“Smartphones continue to be the leading category in both online sales and physical sales, although their participation in online sales is accentuated, which represents 34% of the sales volume of this channel”Bin said.
The growth of the online market, very accelerated during 2020 due to the context of confinement due to the coronavirus pandemic, grew again in 2021.
According to the Association of Argentine Electronics Terminal Factories (Afarte), based on information from GfK, almost 430,000 televisions were sold during the first quarter of 2022, 22% more than a year ago; and 292,272 air conditioners, 24% more than in the first quarter of 2021, the entity told Télam.
Although growth is observed in the electro market compared to 2021, it is important to note that the figures still do not reach those of 2017, the year with the highest number of units in the last ten, the consultant said.
Within the program Now 12, the financing of household appliances was the one that registered the largest number of operations in January, February and March, months in which it grew 35%, 28% and 29% year-on-year, respectively.
According to the latest data from the Center for Production Studies (CEP XXI), in April the financing of Now 12 in this segment grew 40.5% compared to 2021 and 38% compared to 2020, only behind clothing.
Now 12 offers 12, 18 and 24 white line installments -air conditioners, air conditioners and/or ventilation, dishwashers, washers and dryers, kitchens, ovens and stoves, heaters and stoves, hot water tanks and water heaters, refrigerators, freezers and freezers- ; on all models of televisions and monitors; and on computers, notebooks and tablets.
Likewise, the program, which is in force until June 30, allows financing the purchase of small appliances – electric kettles, blenders, processors, mixers, toasters, among others – in 3, 6, 12, 18 and 24 installments.
Rafael Vieyra, general director of Newsan Electrodomesticos, told Télam that “The growth we are seeing has to do with a recovery after years of declines caused essentially by the Covid-19 pandemic.”
“We are returning to similar volumes prior to 2018, a break year for the markets; we understand that this is due, on the one hand, to the general movement of the economy and, secondly, to the user’s perception of durable goods such as source of protection against an inflationary context and a wide exchange rate gap,” he said.
According to the survey of household appliances and household items businesses prepared by the National Institute of Statistics and Censuses (Indec), in the first quarter total sales of the sector were revealed for $90,115 million, with a year-on-year increase of 52.3% at current prices.
In the first quarter of 2022, the groups of articles whose sales had the greatest increases were personal care, with $2,364.6 million and a percentage variation compared to the same period of the previous year of 215.6%; air conditioning equipment and climate control, with $12,053.8 million and a variation of 103.1% compared to the same quarter of 2021; refrigerators and freezers, with $11,282.4 million and a year-on-year percentage change of 71.8%; and washing machines, dryers and dishwashers, with $6,603.4 million and a year-on-year percentage change of 64.9%, according to Indec.
