MANILA, Philippines - Electrolux Philippines is expecting a double-digit growth in sales this year following the launch of their refrigerator and air conditioner units.
In an interview, Electrolux Philippines general manager Malu P. Estaris said that last year, they posted a nine-percent growth, better than the industry because the appliance industry declined by nine to 10 percent during that period.
Estaris said that the industry will recover this year with a single digit growth but Electrolux will outgrow the industry.
“Our forecast is always to grow faster than industry because being a relatively small we always grow faster than industry,” she explained. “The industry will recover this year but we will grow faster.”
Estaris said that consumers are now buying and that the retailers are now more aggressive in marketing their products.
Estaris said that they are leading in the mass premium market. However, Estaris said that since last year, they have started carrying smart brands for those who are cost conscious.
She said that the air condition industry is a P5-billion market. Electrolux will be selling split type air conditioners. Split type air conditioners make up 20 percent of the market. The refrigerator industry is also a P5-billion industry.
Estaris explained that the refrigerator industry is declining in terms of volume but peso sales have gone up because people prefer to buy branded quality products.
For Electrolux, the Philippines is the leader in terms of refrigerator sales in South East Asia. Electrolux is present in Thailand, Vietnam, Indonesia and Singapore.