In 2022, many events occurred that had various impacts on Refrigerator Industry. Regardless, this industry is on the rise. Here, we collect and analyze data from Indonesia’s leading e-commerce platforms in the Refrigerator category and convert it into a full-year outlook of this industry. 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).
Refrigerators generated IDR 673.1 billion in 2022, with 251.7 thousand units sold. In comparison to 2021, the market improved by 63.3%. In terms of GMV, it reached a new record in July with IDR 69 billion and ended 2022 with IDR 61 billion. Though smaller than in July, there is a massive improvement over early 2022.
Tokopedia dominates the market and Shopee catching up at April 2022.
Sharp, LG, and Polytron were brands with more than 100% growth in 2022. Sharp’s growth resulted in a 4% rise in market share increase, overtaking Aqua and Gea. LG maintains its position by having a sufficient increase. Polytron successfully joined the top 5 due to the most stable and rapid growth. Shopee generated a large amount of GMV for these brands.
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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”