The washing machine market in Thailand is expanding, with expected average growth of 5% this year to reach 12.3 billion baht, according to Panasonic AP Sales Thailand Co.
The market share can be divided into premium products at 55%, which are set to see 9% growth, above the industry average. The rest are categorised as standard products.
Panasonic announced it will actively compete in the premium washing machine market by releasing new products with breakthrough technology to enhance the hygiene and antibacterial properties in washing machines, said managing director Takeshi Nomoto.
The company is confident of the premium washing machine market in Thailand, which is on the upward trend and has been growing continuously.
Panasonic's premium washing machine sales increased more than 50% in 2016. This stems from increasing demand from upper-middle consumers who have high purchasing power and look for the products that offer stylish designs as well as cutting-edge technology.
According to Mr Nomoto, Panasonic has marketed its premium washing machines for two years, and constantly receives positive feedback from consumers.
This year, the company plans to continue compete in this market, by launching the line-up of new washing machines. Both front-loading and top-loading models will be targeted at younger consumers who have modern preferences in the form of simple elegant designs, while also becoming increasingly conscious of hygiene and the environment.
Mr Nomoto said that Panasonic will still focus on communicating with the consumers through both online and offline channels.
The company has also named the actress Nataporn Taemeeruk as brand ambassador, aiming to improve the brand recognition among younger consumers.
For 2017, Panasonic has set a sales target of 2,200 million baht, accounting for 22% growth from 2016, with premium products yielding 57%, and 43% from other segments.