Dongbu Daewoo Electronics ranked first in the refrigerator market share in Mexico. This is largely due to its global platform refrigerator, which was released in Feb.
The company said on June 16 that it sold 160,000 units by April this year in Mexico, one of its main markets, recording a 31 percent market share. The sales figure increased by nearly 43 percent from a year earlier.
This is the first time for Dongbu Daewoo Electronics to top the list of refrigerators in the local market share overseas. In particular, the product competitiveness improvement and localization strategy based on the global platform are major factors. With a motto of “high quality electric appliances company,” the global platform refrigerator, which had been prepared for two years, was released in Feb. in the Mexican market. Substituting existing models, the product earned favorable reviews from consumers in terms of performance and design, which led to the increase in sales.
Also, Dongbu Daewoo Electronics has launched premium refrigerators, such as the Classic and the Cube three-door refrigerators, expanding product lineups from compact to large-capacity refrigerators. Moreover, the company has expanded its distribution network through renowned department stores such as Sears and Liverpool in Mexico.
The localization strategy of products played a role as well. Considering the Mexican lifestyle of people who prefer flashy design, the company released a medium and large capacity refrigerator which has Dahlia patterns, the national flower of Mexico, on the door, attracting the taste of local consumers.
Dongbu Daewoo Electronics established its sale corporation in Mexico in 1993. Currently, the company ranks first in refrigerator market share, third in washing machine market share, and first in microwave market share. Last year, Dongbu Daewoo Electronics Mexico posted US$187 million (209.23 billion won) in sales, which is bigger than the 10 percent of total sales of the company. Also, the company expects to see its sales grow by more than 20 percent this year.