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Major Household Appliances - US - February 2016

OVERVIEW
What you need to know
Definition
EXECUTIVE SUMMARY
The issues
Improvement in housing and overall economy boosts appliance sales
Figure 1: Total US sales and fan chart forecast of major household appliances, at current prices, 2010-20
Multiple purchases increasingly the norm, opportunity for add-on sales
Figure 2: Type(s) of appliance purchased, November 2015
Replacement provides sales base; other factors drive trends
Figure 3: Main reasons for most recent purchase, November 2015
The opportunities
Young adults active, omnichannel appliance shoppers
Figure 4: Shopping behaviors, by age, November 2015
Younger washer/dryer shoppers drawn to innovations in practicality
Figure 5: Interest in washer/dryer features, by age, November 2015
Capacity and convenience especially important in larger households
Figure 6: Interest in refrigerator/freezer features, by household size, November 2015
What it means
THE MARKET – WHAT YOU NEED TO KNOW
Improvement in housing and overall economy boosts appliance sales
All three segments benefit from rising market
Replacement most common motivation among several factors
MARKET SIZE AND FORECAST
Improvement in housing and overall economy boosts appliance sales
Figure 7: Total US sales and fan chart forecast of major household appliances, at current prices, 2010-20
Figure 8: Total US sales and forecast of major household appliances, at current prices, 2010-20
MARKET BREAKDOWN
All three segments benefit from rising market
Figure 9: Sales of major household appliances, by segment, 2010-15
MARKET FACTORS
Replacement most common motivation among several factors
Figure 10: Main reason for most recent purchase, November 2015
Rising consumer confidence could push appliance market higher
Figure 11: University of Michigan Index of Consumer Sentiment, 2010-15
Home ownership rate slips
Figure 12: Homeownership rate, by age of householder, 2010-15
KEY PLAYERS – WHAT YOU NEED TO KNOW
Capacity
Flexibility
Smart appliances
Smaller appliances for smaller spaces
WHAT’S WORKING?
Capacity
Flexibility
WHAT’S STRUGGLING?
Smart appliances
WHAT’S NEXT?
Smaller appliances for smaller spaces
Smart appliances getting smarter
THE CONSUMER – WHAT YOU NEED TO KNOW
Multiple purchases increasingly the norm, opportunity for add-on sales
Replacement provides sales base; other factors drive trends
Appliance purchasers take an active, omnichannel approach to shopping
For washers and dryers, water- and energy-efficiency draws greatest interest
Capacity and flexibility are key themes for refrigerators
For cooking appliances, a focus on speed
MAJOR APPLIANCE PURCHASE INCIDENCE
Multiple purchases increasingly the norm, opportunity for add-on sales
Incidence of fridge/freezer purchases reflects lifestyle priorities
Figure 13: Type(s) of appliance purchased, November 2015
Younger buyers purchase more appliances
Figure 14: Type(s) of appliance purchased, by age, November 2015
Higher-ticket purchases include more appliances
Figure 15: Type(s) of appliance purchased, by amount spent on most recent purchase, November 2015
MAIN REASONS FOR MOST RECENT APPLIANCE PURCHASE
Replacement provides sales base; other factors drive trends
Window of opportunity to promote energy savings
Figure 16: Main reason for most recent purchase, November 2015
Replacement less likely to be a factor in high-ticket purchases
Appliances as lifestyle enhancements
Figure 17: Main reason for most recent purchase, by amount spent, November 2015
MAJOR APPLIANCE SHOPPING BEHAVIORS
Appliance purchasers take an active, omnichannel approach to shopping
Figure 18: Shopping behaviors, November 2015
Young adults active, mobile appliance shoppers
Figure 19: Shopping behaviors, by age, November 2015
INTEREST IN WASHER/DRYER FEATURES
Highest water- and energy-efficiency ratings generate greatest interest
Figure 20: Interest in washer/dryer features, November 2015
Younger shoppers drawn to innovations in practicality
Figure 21: Interest in washer/dryer features, by age, November 2015
INTEREST IN OVEN/RANGE FEATURES
A focus on speed
Figure 22: Interest in oven/range features, November 2015
Heavy spenders especially likely to prioritize capacity and speed
Figure 23: Interest in oven/range features, by amount spent on most recent purchase, November 2015
INTEREST IN REFRIGERATOR/FREEZER FEATURES
Capacity and flexibility are key themes for refrigerators
Figure 24: Interest in refrigerator/freezer features, November 2015
Capacity and convenience especially important in larger households
Figure 25: Interest in refrigerator/freezer features, by household size, November 2015
APPENDIX – DATA SOURCES AND ABBREVIATIONS
Data sources
Sales data
Fan chart forecast
Consumer survey data
Abbreviations and terms
Abbreviations
Terms
APPENDIX – MARKET
Figure 26: Total US sales and forecast of major household appliances, at inflation-adjusted prices, 2010-20
Figure 27: Total US sales of washers and dryers, at current prices, 2010-15
Figure 28: Total US sales of refrigerators, freezers, and dishwashers, at current prices, 2010-15
Figure 29: Total US sales of ranges, ovens, cooktops, and microwaves, at current prices, 2010-15

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