SHARP's Strategic Revival in Thailand's Home Appliance Market
The Japanese electronics firm launches a wide range of redesigned products targeting a new generation of consumers.
After a decade-long hiatus, SHARP has re-entered the Thai market with a significant strategy to revitalize its brand.
This year marks the company's first market activity in over ten years, during which it focused on product development and an extensive design overhaul, its most significant in the last 52 years.
With the household appliance market in Thailand valued at over 80 billion baht, marked by challenges such as rising household debt and decreased consumer confidence, SHARP aims to compete in the small appliance segment aggressively.
The company has announced plans to introduce five new products in the first quarter of 2023, targeting younger consumers who value home decor and innovative designs.
According to Wiroj Tanachchasai, CEO of Krungthai Electric Co., Ltd., SHARP's new offerings include an 18-inch fan with a modern design, ensuring both aesthetic appeal and functionality.
The fan features three safety systems, including an automatic power shut-off in cases of overheating, and is made from flame-retardant materials.
In addition to the fan, SHARP plans to launch a new line of rice cookers, including the CUBE model, which comes in 1-liter sizes with design updates that align with contemporary kitchen styles.
The new rice cooker features efficient heat distribution and nonstick coatings for easier cleaning.
SHARP currently leads the rice cooker market with a 40% share, further solidifying its presence in this segment valued at 4 billion baht.
Following a successful introduction of an oil-free frying pan last year, the company will add two new models, 4.2 liters and 6.8 liters, catering to modern families seeking convenient cooking solutions.
Furthermore, SHARP ventures into the steam iron market for the first time, launching three new models designed for effortless and efficient garment care.
The Thai market for steam irons, valued at approximately 2 billion baht, has been experiencing continuous growth and remains an underutilized segment.
According to Tanachchasai, the strength of the SHARP brand and its contemporary design will target younger generations more effectively than before.
Additionally, SHARP will introduce two new models of water heaters—MODI models with power ratings of 3,500 watts and 4,500 watts.
These water heaters feature a significant redesign to appeal to modern bathroom aesthetics, and will be available in various colors, including black, white, and gray.
The overall market for small household appliances in Thailand exceeds 10 billion baht, with particular segments such as fans around 7 billion baht, rice cookers approximately 4 billion baht, and steam irons about 2 billion baht.
With the reintroduction of its products, SHARP aims to adjust to evolving consumer lifestyles, targeting a younger demographic to expand its customer base and solidify its position in the small appliance market as it adapts to the dynamic landscape of consumer demand.
This year marks the company's first market activity in over ten years, during which it focused on product development and an extensive design overhaul, its most significant in the last 52 years.
With the household appliance market in Thailand valued at over 80 billion baht, marked by challenges such as rising household debt and decreased consumer confidence, SHARP aims to compete in the small appliance segment aggressively.
The company has announced plans to introduce five new products in the first quarter of 2023, targeting younger consumers who value home decor and innovative designs.
According to Wiroj Tanachchasai, CEO of Krungthai Electric Co., Ltd., SHARP's new offerings include an 18-inch fan with a modern design, ensuring both aesthetic appeal and functionality.
The fan features three safety systems, including an automatic power shut-off in cases of overheating, and is made from flame-retardant materials.
In addition to the fan, SHARP plans to launch a new line of rice cookers, including the CUBE model, which comes in 1-liter sizes with design updates that align with contemporary kitchen styles.
The new rice cooker features efficient heat distribution and nonstick coatings for easier cleaning.
SHARP currently leads the rice cooker market with a 40% share, further solidifying its presence in this segment valued at 4 billion baht.
Following a successful introduction of an oil-free frying pan last year, the company will add two new models, 4.2 liters and 6.8 liters, catering to modern families seeking convenient cooking solutions.
Furthermore, SHARP ventures into the steam iron market for the first time, launching three new models designed for effortless and efficient garment care.
The Thai market for steam irons, valued at approximately 2 billion baht, has been experiencing continuous growth and remains an underutilized segment.
According to Tanachchasai, the strength of the SHARP brand and its contemporary design will target younger generations more effectively than before.
Additionally, SHARP will introduce two new models of water heaters—MODI models with power ratings of 3,500 watts and 4,500 watts.
These water heaters feature a significant redesign to appeal to modern bathroom aesthetics, and will be available in various colors, including black, white, and gray.
The overall market for small household appliances in Thailand exceeds 10 billion baht, with particular segments such as fans around 7 billion baht, rice cookers approximately 4 billion baht, and steam irons about 2 billion baht.
With the reintroduction of its products, SHARP aims to adjust to evolving consumer lifestyles, targeting a younger demographic to expand its customer base and solidify its position in the small appliance market as it adapts to the dynamic landscape of consumer demand.
