"COVID-19 and Heatwave Forecast" ... Air Conditioner Sales Triple in Early Year

[Asia Economy Reporter Jo In-kyung] Air conditioners, a representative seasonal home appliance for summer, are selling well even in the middle of winter. This is thanks to an increase in consumers rushing to purchase air conditioners from the beginning of the year, driven by new product launches and various promotional events.

According to Electronic Land on the 17th, air conditioner sales from January to March last year accounted for 15% of the annual sales volume. Previously, in 2018, the first quarter air conditioner sales share was 10%, and in the first quarter of 2019, it rose to 19%.

Sales of air conditioners this year up to the 14th of this month also increased by 208% compared to the same period last year.

Electronic Land's analysis indicates that the main reason for the increase in first-quarter air conditioner sales is that the launch of new air conditioner models has been moved forward to early in the year, leading more customers to purchase air conditioners during promotional periods. Another reason for the earlier purchase timing is the longer waiting period for installation during the summer peak season.

Forecasts predicting a heatwave this summer have also had an impact. The Korea Meteorological Administration recently noted that the summers of 2016 and 2018, which experienced the harshest cold waves in the past decade, also had heatwaves, and it expects this year’s record-breaking cold wave to be followed by a record-breaking heatwave.

An Electronic Land representative said, "The perception of air conditioners as seasonal appliances is gradually disappearing," adding, "As the heatwave and the COVID-19 pandemic are expected to continue home-staying lifestyles, air conditioner sales are also expected to increase this year."

Electronic Land is running a 'Pre-purchase Air Conditioner' promotion until the 28th. Customers who pay for stand-type air conditioners with the Electronic Land Samsung partnership card or the Special Lotte card can receive up to 36 months of long-term interest-free benefits, and customers who pre-purchase Samsung Electronics and LG Electronics promotional models can receive up to 600,000 KRW in additional cashback.

This content was produced with the assistance of AI translation services.