China's refrigerator "price war" exports to Vietnam's Haier high-end strategy jumped to TOP3

According to Bloomberg News, Vietnam is expected to maintain a top position in Asia with a robust growth rate of 6.5% in 2018. Statistics from the General Administration of Customs of Vietnam reveal that in the first seven months of 2017, the top ten import and export trade volumes accounted for 91.1% of the total national trade. Notably, there was a significant increase in the demand for refrigerators, which has attracted global brands eager to tap into this growing market. This surge in demand has led to a new wave of price competition among manufacturers. Industry experts note that China's home appliance sector is known for its aggressive pricing strategies. Many Chinese brands rely on OEM models to achieve economic efficiency, which limits their brand development. However, Haier, as the world’s leading global refrigerator brand, has taken a different approach by focusing on building its own overseas presence and avoiding price wars. Instead, it has pursued a high-end strategy, aiming to enhance brand value and establish a strong market presence. In Vietnam, Haier’s high-end refrigerator products, particularly those in the 450-500L range, achieved a sales share of 36.8%, securing the top spot in the market. In 2017, Haier launched the 528L high-end model, which quickly entered the top three in local sales. The product, priced at around 6,000 yuan, became one of the most expensive items in the top-selling list. By 2017, Haier's high-end product ratio had risen from less than 2% in 2016 to over 20%, showing impressive progress. The Vietnamese market has become a reflection of global competition, with many domestic brands engaging in price wars to gain market share. However, due to low consumer spending power—per capita wages are roughly 1,500 yuan—many companies opt for cost-cutting measures like OEM production. While this provides short-term benefits, it fails to build long-term brand equity. Meanwhile, the high-end segment remains underserved, with only 14–15% of the market currently captured. Haier’s success lies in its focus on high-end products and user-centric strategies. By launching premium models tailored to local preferences, the company has managed to capture attention and win customer loyalty. For example, Haier’s glass-door and black exterior design aligns with local aesthetics, while its 517L computer-controlled refrigerator, launched in January 2018, offers advanced features such as micro-channel temperature control, dry-wet storage zones, and adjustable temperature areas. Priced at about 11,000 RMB, this model has become a favorite among Vietnamese consumers. Industry analysts emphasize that Haier’s approach goes beyond mere price competition. By prioritizing user needs and delivering high-quality, value-driven products, Haier has successfully differentiated itself in the market. Unlike many competitors who engage in short-term price battles, Haier focuses on long-term brand building and customer satisfaction. Euromonitor International data shows that Haier has ranked first globally in refrigerator sales for 10 consecutive years. Its successful entry into the Vietnamese market through a high-end strategy highlights another milestone in its global expansion. This achievement underscores Haier’s “user-centered” philosophy, which has enabled the brand to thrive in diverse markets worldwide. Over the past 13 years, Haier has continuously adapted to different consumer needs, helping independent brands establish themselves and break through global competition.

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