Market Trends of Mexico Major Home Appliance Industry
Refrigerators are The Leading Major Home Appliance And Subsequent Revenue Growth
Large appliances like refrigerators are necessary for Mexican households. The majority of homes in Mexico utilize vapor compression technology for household refrigeration. In Mexico, there are refrigerators in at least 80% of the residences. The existence of a significant number of restaurants, hotels, and other establishments where cold beverages are typically offered in the Mexican region is also a driving element in the development of demand for refrigerators. The expansion of both basic and premium refrigerators is anticipated to be driven by the growing middle class and its spending power. French-door refrigerators are the most popular type of refrigerator. The newest series of linear top-freezer refrigerators have been introduced to the market by LG Electronics (LG). Together with refrigerators, cooktops, and ovens, they have taken up a sizable portion of the market. For the past few years, the revenue has likewise been growing steadily.
Rise of Online sales of Major Home Appliances in Mexico is Driving the Market
Despite Mexico's relatively low internet penetration compared to other North American and South American nations, the percentage of Major Household Appliances sales conducted online has been steadily rising in recent years. Compared to prior years, internet usage has also increased. Moreover, there are fewer active e-commerce platforms in the Mexican region. Since internet usage in the region is predicted to increase by an even greater percentage in the coming years, there is a significant opportunity for e-commerce platforms to take advantage of it. This is because less employment that requires a lot of labor is available compared to blue-collar jobs. All of these elements are anticipated to strengthen Mexico's total market for major home appliances.
