For the first time in history, Asia is now richer than Europe. Private wealth in Asia grew by a staggering 29 per cent compared to 6.6 per cent in Europe last year. Spurred by an increasingly aspirational middle class and rising population, the growth in retail sales for most Asian nations is projected to be higher than the global average this year.
PricewaterhouseCoopers further estimates that sales growth in Asia will be the fastest in the world over the next five years, amounting to over US$10 trillion by 2018 – twice that of North America.
Given the growing spending power of Asian countries, it comes as no surprise that its consumers are increasingly demanding higher-end goods. A recent study of Southeast Asian markets identified a 21 per cent increase in the share of premium-priced goods sold compared to mainstream and value brands – a trend that is only set to increase as the region continues to experience phenomenal growth.
Delivering on the promise of premium
Recognising the strategic importance of catering to the Asian nouveau riche, Panasonic is refocusing its home appliances collection in order to supply the market with a higher-quality range.
The lineup, which was showcased at the 2015 Panasonic Dealer Convention in Vietnam, features Panasonic’s “Made in Japan” and “Japan Quality” products, which provide a combination of both functional and emotional value to satisfy customer demands.
Among the full array of Panasonic’s premium offerings, consumers can look forward to:
- Refrigerators with advanced Japanese technology such as high-tech ECONAVI intelligent eco sensors that automatically read home environment conditions to optimise its operation day and night for energy efficiency. The refrigerators also feature Inverter technology that leverages sensor data for high-precision control of temperature, timing, power use and other parameters to save energy and money.
- Washing machines that feature an Advanced Foam Wash technology, successfully removing stains within three minutes, and a Gentle Hand Wash function, which allows delicate and dry-cleaning modes. These machines achieve a 20 per cent reduction in energy usage as well as a 9 per cent reduction in noise.
- 4K TVs with Master Color Studio technology that produce exceptionally natural and vibrant colour rendition. The new VIERA TVs also feature a Freeview Play subscription-free catch-up service, allowing viewers to watch programmes from the previous week.
- 4K cameras that produce stunning lifelike images and support recording in various formats and frame rates. The compact design of the camera range additionally hosts professional functions such as the Dual SD Card Slot, Triple Manual Ring and ND Filter.
- Kitchen appliances that assist in food preparation, such as hand blenders, toaster ovens, food processors and electronic rice cookers. This extensive and modern lineup of appliances were also proudly sponsored by Panasonic for use by contestants in MasterChef Asia.
A model for urban living
PanaHome, Panasonic’s housing solutions arm, has also recently unveiled three multi-storey model homes in Tokyo and Yokohama, Japan, as part of its Vieuno PRO series. The concept is one of the multi-storey living solutions pioneered by PanaHome since 1977, which combines residential quarters with retail and office space into a single building.
The Vieuno PRO takes into consideration the health and comfort of its residents and tenants, featuring an air-ventilation system with built-in ECONAVI technology. This ensures that air in the underfloor space is purified with a HEPA filter, thus preventing the spread of airborne viruses. The building is also fitted with top-quality entertainment systems – for example, the two-family residence features a 62.34m2 living and dining room that’s equipped with a high-end audio system from Technics, Panasonic’s audio specialist brand.
PanaHome is expecting to receive orders for 150 of its Vieuno PRO homes this year. Over the past three years, sales have increased by over 100 per cent annually, highlighting the demand for living solutions that integrate good design with energy efficiency and comfort.
As the smart home industry continues to flourish in Asia, Panasonic’s Premium Lifestyle range offers modern home owners increased value in living the smart, premium, connected way.
For more information about Panasonic’s Premium Lifestyle solutions, click here.