ECNETNews reports that the Thai electrical appliance market is poised for significant growth in 2025, driven by a robust recovery in tourism that is set to invigorate the nation’s economy.
Retail sales of electrical appliances in tourist-heavy areas are already witnessing a surge, paralleling the resurgence in tourism.
The Tourism and Sports Ministry aims to attract 40 million foreign tourists to Thailand in 2025, surpassing pre-pandemic figures.
Leading the charge, a spokesperson for LG Electronics (Thailand) expresses optimism about improved consumer purchasing power in 2025, with notable demand for air conditioners expected during the peak of the hot season.
“We project that the overall electrical appliance market will experience double-digit growth in 2025,” the spokesperson stated.
While maintaining a strong customer base among older consumers, the company seeks to connect with new demographics, particularly young professionals entering the job market.
Popular choices for these consumers include refrigerators, air conditioners, and televisions, especially among those looking for new homes.
In addition, the company is set to expand its portfolio with a range of artificial intelligence (AI)-integrated products next year, aiming to increase its market share in this innovative category.
The company is not focusing on price competition but is instead targeting the premium segment of the market.
Industry insights suggest that appliance brands may refrain from engaging in price wars due to potential ramifications on brand value.
“We have successfully avoided price wars while enjoying an increase in market share, which reflects the effectiveness of our strategic approach,” the spokesperson remarked.
To enhance brand visibility, the company underscores the importance of traditional marketing channels such as television and billboards, while also recognizing the rising impact of micro-influencers with followers ranging from 10,000 to 100,000, whose content consumers increasingly trust.
ECNETNews notes that the ongoing strategy combines both mass media and micro-influencer marketing to solidify market presence and brand recognition.
