Logo of Phnom Penh Post newspaper Phnom Penh Post - LG premium outlet to build a strong brand image

LG premium outlet to build a strong brand image

Content image - Phnom Penh Post
Sung Suk Kim (above) delivers his speech during the launch of LG premium outlet. supplied

LG premium outlet to build a strong brand image

South Korea’s LG Electronics launched its first premium showroom in Phnom Penh last Tuesday, signaling its seriousness in Cambodia’s growing consumer market.

In line with LG’s vision, “creating a better life with our customers”, the premium showroom, located in Monivong Blvd, provides special experiences for customers and offers best quality products with upgraded services.

“From an industry attractiveness perspective, I have seen great potential in Cambodia consumer electronics market. Cambodia has some strong points that makes it an attractive market,” said Sung Suk Kim, Managing Director of LG Electronics in Cambodia, at the lunching ceremony.

He said the premium showroom will play two important roles.

“Firstly, from the perspective of customers, we can launch high-end products that customers are willing to pay for and can be sold at an acceptable price in the market.

“It is a kind of flagship store for LG to build (its) brand image and deliver products that can provide the differentiated value we promised to our customers,” he added.

“Secondly, we focus not only on strengthening LG brand image but also making good performance itself though premium brand shop which contributes to LG’s next quantum growth,” said Kim.

He said the company has taken the first step to reach its aspiration to make LG a top selling brand in the Cambodian market and will increase its marketing budget to build its brand name.

Content image - Phnom Penh Post
Home theater systems displayed at the premium outlet located along Monivong Blvd.Supplied

The rising small middle class and Cambodia with a young population plus the availability of micro financing which provides consumers with quick loans — will push the demand for electronic items.

According to the Ministry of Economy and Finance, per capita income in 2018 is expected to touch $1,568, from $1,435 last year, due to the stable economic growth achieved at the rate of about seven percent on average for more than a decade.

At the same event the main supplier of LG products in Cambodia, Ggear’s Chief Executive Officer Sok Piseth said the company is trying to promote latest consumer electronics products in the Kingdom.

 “The premium showroom is not an ordinary electronics showroom, all latest products available in the international markets are also sold at the premium showroom. It will give a new experience to our consumers,” he said.

The premium showroom displays a range of household products ranging from refrigerators, washing machines, vacuum cleaners, air conditioners, and the latest LG OLED television.

A study titled “Opportunities for Consumer Goods in Cambodia”, which was jointly commissioned by BritCham, EuroCham, and UK’s Department of International Trade, said the demand for electronics products will grow as household income rises.

“Ownership of consumer electronics is growing quickly in Cambodia. Since ownership of most consumer electronics other than mobile phones is still relatively low, strong sales are expected to continue in the coming years.

“Cooking appliances such as microwaves, toaster ovens, coffee makers, electric kettles, blenders, and food processors have not yet found their way into most Cambodian kitchens.

“Appliance makers that educate consumers on the benefits of these products will be rewarded with sales,” said the report published in 2016.

MOST VIEWED

  • Prince Norodom Ranariddh passes away at 77

    Prince Norodom Ranariddh, the second son of the late King Father Norodom Sihanouk and former First Prime Minister of Cambodia, has passed away in France at the age of 77. “Samdech Krom Preah Norodom Ranariddh has passed away this morning in France just after 9am Paris-time,”

  • General’s gun smuggling ring busted

    The Military Police sent six military officers to court on November 22 to face prosecution for possession of 105 illegal rifles and arms smuggling, while investigators say they are still hunting down additional accomplices. Sao Sokha, deputy commander of the Royal Cambodian Armed Forces and commander of

  • More Cambodians studying in US

    The number of Cambodian students studying at US colleges and universities in 2020-21 increased by 14.3 per cent over the previous year despite the Covid-19 pandemic, according to a recent US government report. The 2021 Open Doors report on International Educational Exchange showed that 848 Cambodian students studied

  • Cambodia, Thailand to discuss border reopening

    Cambodian authorities from provinces along the Cambodia-Thailand border will meet with Thai counterparts to discuss reopening border checkpoints to facilitate travel, transfer of products and cross-border trade between the two countries. Banteay Meanchey provincial deputy governor Ly Sary said on November 22 that the provincial administration

  • Banteay Meanchey gunfight sees 15 Thais arrested, three officers injured

    The Banteay Meanchey Military Police have arrested 15 Thai suspects and their accomplices after a gun battle between two Thai groups caused injuries to three police officers in the early hours of November 21, local authorities said. National Military Police spokesman Eng Hy said that according to

  • PM: Do not defile Tonle Sap swamp forest or else

    Prime Minister Hun Sen ordered police to arrest anyone – including government officials – involved with the deforestation of the flooded forests surrounding the Tonle Sap Lake because it is an area important to the spawning of many species of fish, among other reasons. Speaking in a