SEOUL, March 15 (Korea Bizwire) – Refrigerators with the freezer on the bottom and refrigerator on top – also known as ‘European style’ – are becoming popular in the Korean market due to the increase in single or two-person households, and strong demand for premium products.
According to industry analysts, sales of European-styled refrigerators manufactured by LG Electronics doubled last year, grabbing a double-digit share of the market for the first time.
After first being released in the Korean market in 2014, more than 2,000 Euro-configuration refrigerators have been sold per month since 2015.
Industry watchers claim that it is rare for refrigerators to see increased sales during the winter, which is usually a slow season.
European style refrigerators are two-door products with the freezer on the bottom. They usually have capacities between 300 and 400 liters.
Instead of shrinking in depth, they are taller than other models, making efficient use of small spaces. The products are said to take up more than half of the European refrigerator market.
The popularity of these fridges seems to have moved on to the Korean market. The addition of premium touches has helped boost sales of the new products.
Of note, consumers who purchased two-door refrigerators in the early 2000s are now purchasing replacements of the European type.
“The freezer, which was always thought to be on top, has now moved to the bottom. European style refrigerators have provided a new point of view in the market”, analysts explained.
By Lina Jang (firstname.lastname@example.org)