Casper Vietnam leads the air conditioner market share.

Record sales helped Casper Vietnam secure a 21.6% market share for the first time in May, surpassing major Japanese players.

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

A company representative spoke about the strategy that has helped the unit grow in recent years at an event in Hanoi at the end of April. Photo: Hong Chau — A company representative spoke about the strategy that has helped the unit grow in recent years at an event in Hanoi at the end of April. Photo: *Hong Chau*

According to the report, from 2019 to April of this year, Panasonic consistently held the top position. The second and third positions frequently changed, with fierce competition between Casper and Daikin. May marked the first time the Japanese brand dropped from the top spot, with Panasonic holding 19.7% market share and Daikin 14.4%.

Casper air conditioners have the highest sales volume concentrated in Northern Vietnam, the Northeast (the company's key markets), the Mekong Delta, and Ho Chi Minh City. The best-selling models are in the price range of 8 million and 12 million VND, with capacities of 9,000-15,000 BTU. Considering the overall market, the company excels in the mid-range segment (under 10 million VND).

According to company representatives, reasonable pricing coupled with quality is the key factor driving high sales. "If you calculate the maintenance costs over the entire lifespan, users only pay around 4,000 VND per night," analyzed Mr. Mai The Trung, Product Development Director. In addition, the hot weather also contributed to the overall industry growth.

As many as 82.8% of Casper customers choose the Inverter model. This is understandable because the technology optimizes efficiency and saves electricity. Instead of a few years of warranty for the Inverter compressor, the corporation commits to a 12-year warranty. "This is the highest in the industry," said the representative.

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

Each of the company's products is geared towards simplification to optimize costs while still ensuring functionality. For example, instead of affixing 5-6 labels, Casper products only have one. The company also allows online warranty registration and lookup, supporting distributors, dealers, and users alike. All production and operational activities are optimized for cost to focus the greatest resources on product quality.

In the future, the company will continue its research to help create a smarter and more convenient home appliance ecosystem at affordable prices. After air conditioners, the company will focus on other product lines such as TVs, washing machines, and refrigerators. In 2021, the TV segment brought in 2.2 trillion VND in revenue. The expectation is that, with strong growth, it could reach a similar position to the air conditioner segment within 2-3 years.