Refrigerator, an essential electrical kitchen appliance, is on the rise. While COVID-19 impacts most industries, the refrigerator industry seems to be growing. People are forced to dine at home because of pandemic regulations and restrictions, resulting in a rise in stocking-up groceries and foods in the refrigerator.
According to Statista, Refrigerator generated US$ 3.34 billion revenue in 2019. It reached the highest growth in 2020 with 11.3% and in 2021 with 7.5%. The market is also predicted to grow by 5.25% per year (CAGR 2022-2027).
The refrigerator market size in January - June 2022 period is IDR 307.58 Billion with 103.79 thousand units sold In Q2, the market exhibits an increase of 21.92% compared to Q1. The market has a surge in March and reaches a peak in April, although followed by a decrease in May.
Tokopedia dominates the market and Shopee catching up at April 2022.
Aqua and Sharp lead the market with a quite similar market share, fighting for the 1st rank from January to June 2022.
Aqua leads the market overall e-commerce with more balance transactions across the three e-commerce. Meanwhile, Gea focused only in Tokopedia and LG on Blibli.
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Methodology and Scope:
- Data is collected from Tokopedia, Shopee, and Blibli public data of quantity sold and price.
- Total product type collected is 1,281 types from 4,596 merchants.
- Data collection period: 1 January - 30 June 2022.
- GMV estimation is calculated by multiplying the quantity sold and price on a daily basis. There is a slight data deviation from price changes that are not recorded between snapshots.
- Data cleansing is applied to remove refrigerator spare parts.
- Refrigerator category covered in this report is collected from sub-category:
- Tokopedia : “Elektronik > Elektronik Dapur > Kulkas”
- Shopee : “Elektronik > Perangkat Dapur > Kulkas”
- Blibli: “Peralatan Elektronik > Kulkas, Chiller & Freezer”