Easy credit helps fuel boom in sales of white goods

2007-07-27 00:00
2007-07-27 00:00
Among the fastest-growing categories were coolers and freezers at 40% each, tumble dryers at 70% or two-door fridges at 70%, but the fastest growth was for bagless cleaners, at 200%. Analysts point to the booming economy, rising incomes, high availability of credit, the housing boom and fashion as the main growth drivers. But Poland is also exceptional in that the prices of white goods are lower than in most other European countries due to fierce competition among big white-goods makers. Indeed, prices have been falling steadily and market growth has been slower in value terms. "The world's leading white-goods suppliers are ready to sell at very low margins or even below cost in Poland because of the country's huge growth potential," the report says. And with Polish households still lagging far behind their West European counterparts in terms of white goods equipment, the outlook is indeed bright. "While there may be some slowing down in H2, growth for the year may come in at around 20% and double-digit growth will be maintained for the next two or three years," says Wojciech Konecki, general manager at CECED Polska. (Dziennik, Wall Street Journal Polska, p. 6) R.M.

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