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Samuel Huynh, Research Analyst at Euromonitor, explains with electricity prices on the rise in Vietnam, consumers are more apt to purchase energy efficient appliances to combat high electricity bills. Huynh describes several companies marketing energy-saving appliances in Vietnam, including:
Huynh describes large appliances are gaining attention in the Vietnamese market, such as:
Most consumers, according to Huynh, will replace larger appliances with energy-savers to cut back on electric bills. Consequently, these appliances have the highest growth rate in Vietnam. These trends are expected to continue for two main reasons:
Huynh discusses how energy-saving appliances claim to save 30-40% more energy than other leading brands and the government is likely to step in and regulate these claims. In fact, the Ministry of Industry and Trade in Vietnam has already announced a new law requiring all appliances to have an energy consumption label.
Finally, the trend of replacing old appliances with new energy-saving ones is expected to continue for two of the main small appliances in Vietnam: