Stiebel Eltron targets double sales in Laos
Bangkok, Thailand –Stiebel Eltron, Thailand’s leading manufacturer of water heaters, water filters, hand-dryers, heat pumps and water pumps foresees massive potential for market expansion in Laos, following strong growth in recent years.
The German born company, headquartered in Holzminden Germany, has been distributing in Laos primarily to Souvanny Home Center stores, in addition to other minor retailers since 2014. With steady 2-digit sales growth 2014 to 2018, Stiebel Eltron is ready to establish a strong presence in Laos by raising brand awareness and increasing marketing.The continuation of this performance will see the company double its sales in 2019 compared to the previous year, the highest year-end revenue growth since the launch in 2014.
Roland Hoehn, Managing Director of Stiebel Eltron Asia, revealed that“Stiebel Eltron is entering our sixth year in Laos, and with a steady growth rate, it is an opportune time for us to fully establish our brand as a household name in the electrical appliances industry within the local market as well as create a solid loyal customer base in Laos.Our strategy in moving forward is to generate brand awareness on a deeper level through direct marketing initiatives so that potential customers can identify with who we are as a company, what we stand for and what we offer in terms of our unique product range”.
“The main product we sell in Laos is water heater which we plan to introduce new models annually in Laos the same time as in Thailand. Recently we have launched water filters, hand dryers and heat pumps in Laos market and we received good feedback from customers,”Hoehn continued. “In order to become top of mind brand for consumer, we need to establish a solid brand presence and position Stiebel Eltron as a household name by prioritizing customer engagement through targeted marketing activities and interactive events as well as continuously investing in social media as a marketing tool to amplify customers’ awareness. These marketing investments are expected to increase our retail consumer demands and help support our plans to expand our wholesale distribution network as well”.
With a Grand Opening Launch to celebrate a milestone success in Laos, Stiebel Eltron is committed to establish its strong market presence and customer loyalty through strategic partnerships, project and sub dealer acquisitions as well as expanding product ranges and store locations. In addition, the company aims to generate on-going awareness through increased marketing activities and events such as lucky draw campaigns, in-store promotions and online marketing which is expected to boost retail sales in return.
This projected growth in Laos will help foster the expansion of the company’s market share and in turn reinforce its vision to become the leading water heating, water treatment and water movement solution provider in South East Asia.
To stay up to date with news and learn more about Stiebel Eltron, the country’s leading manufacturer of water heaters, water filters, hand-dryers, heat pumps and water pumps from Germany, please visit www.facebook.com/stiebeleltronasiaorhttp://www.stiebeleltronasia.com.