Casper Vietnam leads the air conditioner market share

Record consumption helped Casper Vietnam hold 21.6% market share for the first time in May, surpassing Japanese giants.

This is the biggest growth rate of the Thai air conditioner company in the past year. According to GfK report, in April, the unit recorded a market share of 15.8% - ranking second in the industry. In the same period last year, the company recorded sales accounting for 16.1% of the market. Compared to January, the company increased its market share by 8.4%. The model that brought Casper to the number one position was TC-09IS35 with sales of 28,227 units, contributing 3.8% of the industry's revenue in May.

The company representative talked about the strategy that helped the unit grow over the years at an event in Hanoi at the end of April. Photo: Hong Chau — The company representative talked about the strategy that helped the unit grow over the years at an event in Hanoi at the end of April. Photo: *Hong Chau*

According to the report, from 2019 to April this year, the leading position always belonged to Panasonic. The top 2 and top 3 positions often changed, fierce competition between two brands: Casper and Daikin. May was the first time the Japanese brand left the top 1 position, specifically Panasonic held 19.7% market share and Daikin was 14.4%.

Casper air conditioners have the largest purchasing power concentrated in the North, Northeast (the company's key markets) and the Mekong Delta, Ho Chi Minh City. The best-selling product lines are in the price range of 8 million VND and 12 million VND; capacity 9,000-15,000 BTU. Considering the entire market, the company is outstanding in the popular segment (under 10 million VND).

The company representative said that reasonable price combined with quality is the factor that helps increase sales. "If calculating the maintenance cost for the whole life cycle, users only have to pay from 4,000 VND per night," Mr. Mai The Trung, Director of Product Development, analyzed. In addition, hot weather also contributes to promoting the growth of the whole industry.

Up to 82.8% of users when buying Casper choose the Inverter line. This psychology is understandable because the technology helps optimize performance and save electricity. Instead of a few years of warranty for the Inverter compressor, the group commits to 12 years. "This is the highest level in the industry," said the representative.

TC-09IS35 is the company's best-selling air conditioner line during the summer. Photo: Hong Chau — TC-09IS35 is the company's best-selling air conditioner line during the summer. Photo: *Hong Chau*

Each product of the company aims to simplify to optimize costs but still ensure functionality. For example, instead of sticking 5-6 labels, Casper products only stick one. The unit also allows online registration and warranty lookup, supporting distributors, dealers and users. All activities in production and operation are cost-optimized to focus the largest resources on product quality.

In the coming time, the company will continue to research to help the home appliance ecosystem become smarter and more convenient at affordable prices. After air conditioners, the company will focus on other product lines such as TVs, washing machines, refrigerators, etc. In 2021, the TV segment brought in VND 2,200 billion in revenue. The expectation is that if growth is good, after 2-3 years it can reach a similar position as the air conditioner industry.