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The Semi-automatic Washing Machine is common to emerging markets of Africa, Middle East, Asia and Latin America. Understanding the rise, and most importantly decline, of this category can give insight into just how emerging an emerging market really is. Euromonitor International’s very latest Consumer Appliance data published at the beginning of November offers unique insights on the worlds emerging markets.
The index indicates that sales of Semi-automatic Washing Machines tend to start an inexorable decline when an emerging market hits 15-20% of households with a disposable income of US$5-15k per year. This premise is demonstrated by an increase in middle class households in China of 160% over 2010-2015 that translates into a 30% decline in volumes of Semi-automatic Washing Machine sales in the same period.
Focusing on Asia, Euromonitor International’s ‘Semi-automatic Washing Machine Emerging Market Index’ indicated that India is a less developed market for consumer appliances than China. As the percentage of middle class consumers tops 15% in China by 2012, sales of Semi-automatic Washing Machines decline.
Aspirations are realised as consumers with higher disposable incomes shift to more sophisticated Automatic Washing Machines. This contrasts with India, where Semi-automatic Washing Machine sales are set to increase 200% in the next 5 years, and middle class consumers will remain below 5% of total households.
The Semi-automatic Washing Machine Index approach applied to Asia, and in this instance India and China, can be applied to Euromonitor International’s research markets globally to determine how far developed an emerging market really is and the likely uptake of higher unit priced products within the home laundry category.