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Published: 19/04/2012 at 02:56 AM Newspaper section: Business 0
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Power Mall's electrical appliance sales in the first quarter grew 20% year-on-year, or four times the industry's rate.

Jakkrit Keeratichokchaikun, chief merchandising officer of Power Mall, said Q1 sales growth exceeded an earlier projection of 10% because of efficiency in product management.

Sales in the electrical appliance market grew 5% in the first quarter despite overwhelming demand, but a lot of products were in short supply during that time.

"Many electrical appliance producers could not make their products, as some did not fully recover from the massive floods," Mr Jakkrit said.

Refrigerators and big-screen TVs were major sales drivers at Power Mall in the first quarter.

TV demand was higher by 30-40%, compared with 20% in a typical period, as buyers responded warmly to 3D and internet TVs. Demand for refrigerators rose 40% on hot weather and a spike in new property projects.

Mr Jakkrit said consumer behaviour changed after the flood crisis: Buyers are clamouring for big-screen TVs, particularly the 50-inch models.

"The UEFA Euro 2012 tournament may be an important influence," he said. "The momentum of big-screen TV demand in the first half is still gaining."Huge growth is seen for telecom and IT products, particularly smartphones and tablets, as demand rises for social networking and digital content.

With these factors in mind, Power Mall will spur interest by spending 60 million baht on marketing campaigns in the second quarter.

The Power Mall Power Sale will run from April 19 to May 27 at all eight branches across the country, covering retail space of over 35,000 square metres.

Some 250 appliance brands will join the campaign, with discounts of up to 28%. Power Mall expects sales of 850 million baht from the event.

According to Kasikorn Research, the overall electrical appliance market this year will be worth between 83.25 billion and 84.15 billion baht, up 4.5% to 5.5% from last year.

Meanwhile, GFK Retail and Technology (Thailand), the retail research company, expects the value of the TV market to hit 36.5 billion baht, with LED TV as a key growth engine.

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