2 weeks Ago
LG Electronics (Thailand) anticipates a promising outlook for the Thai electrical appliance market in 2025, driven by a tourism recovery that is expected to stimulate the Thai economy. Sales of electrical appliances in stores located at popular tourist destinations are already showing positive trends linked to the thriving tourism sector. The Tourism and Sports Ministry wants Thailand to attract 40 million foreign visitors in 2025, surpassing the level recorded before the pandemic.
Amnaj Singhachan, head of marketing at LG Electronics (Thailand), said the company is optimistic about improved purchasing power among Thais in 2025, with strong sales of air conditioners expected during the hot season. "We expect the overall electrical appliance market to post double-digit growth in 2025," he said. Mr Amnaj said while the company has a solid customer base among the elderly, it aims to engage more with new groups, particularly first-jobbers.
Refrigerators, air conditioners, and TVs tend to be popular products among these consumers, particularly those seeking to purchase a new home. Moreover, the company continues to introduce more products featuring artificial intelligence (AI) and plans to increase its market share of AI-enabled appliances next year. He said the company will not focus on price competition, but would put an emphasis on the premium market instead.
LG speculates that other appliance brands may avoid a price war over concerns regarding the possible impact on their brand's performance. "We have not participated in a price war, but our market share has grown. This indicates our marketing strategy is on the right track," said Mr Amnaj.
The company believes that promoting brands and marketing campaigns through mass media channels such as television and billboards remains crucial for enhancing brand awareness. Meanwhile, it acknowledges the growing influence of micro-influencers with about 10,000-100,000 followers on social media as consumers tend to accept the validity of their content. The company continues to use both mass media and micro-influencer marketing to enhance its market presence.
.
