Table of Contents
Introduction and Abbreviations
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- Introduction
- Other relevant reports
- Definition
- Abbreviations & Terms
- Abbreviations
- Terms
Executive Summary
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- Growth of $1.1 billion between 1999 and 2004
- Distress purchasing primary
- Homeownership and income drive market
- Lifestyle changes impact purchasing
- Low interest rates propel volume sales
- Features and styling impact average price
- Market closely divided between washers and dryers
- Four brands dominate
- Strong brand awareness
- Building the brand, not the product
- Try before you buy
- Price not the primary factor in product choice
- Functional vs. aspirational buyers
- Growth ahead
Market Drivers
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- Homeownership
- Homeownership is rising
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- Figure 1: Percentage of U.S. households owning homes, 1999-2003
- Moving homes
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- Figure 2: Existing and new home sales, 1998-2003*
- Population size and characteristics
- Presence of children in the household
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- Figure 3: Presence of children in households, by age of householder, 2003
- Married couples
- 18-44 year olds vs. ages 45+
- 18-44 year olds
- 45 year olds and over
- Moving home, buying first home, and buying new home by age and marital status
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- Figure 4: Home moves, purchase of new home and first home ownership by age and marital status, January-September 2004
- The U.S. population by age
- Mortgage and interest rates
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- Figure 5: Mortgage rates and change in volume sales for laundry, 1999 to 2004
- Mortgage rates, homeownership, and refinancing mortgages
- Buying laundry appliances on credit
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- Figure 6: Reasons for buying on credit, December 2004
- Replacement Cycles
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- Figure 7: Life expectancy of laundry appliances and units to be replaced, 2004 & 2005
- Features, styling, and new product development
- Time deprivation leads to interest in large, quiet, gentle machines
- Features chosen for economic reasons
- Energy efficiency
- Styling
- Remodeling
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- Figure 8: Spending for residential improvements, 1999-2004
- Figure 9: Chart: Spending for residential improvements, 1999-2004*
- Income
- Income and price paid for laundry appliances
- Income and the replacement cycle
- Income distribution
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- Figure 10: Median income, 1999-2003
- Figure 11: Chart: Median income, 1999-2003*
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- Figure 12: Number of households per income group, 2000 and 2003
- Figure 13: Graph: Share of households per income group in 2003 and change from 2000
- Consumer Expenditure
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- Figure 14: Average overall expenditures of consumer household units, by major spending category, 1998 and 2002
Market Size & Trends
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- Introduction
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- Figure 15: Total U.S. manufacturer sales of washers and dryers, at current and constant prices, 1999 to 2004
- Figure 16: Graph: Total U.S. manufacturer sales of washers and dryers, 1999 to 2004*
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- Figure 17: Total U.S. unit shipments of washers and dryers, 1999 to 2004
- High-end and low-end gains while mid-ground loses
- Increased concern with features and styling
Market Segmentation
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- Introduction
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- Figure 18: Total U.S. manufacturer sales of laundry appliances, segmented by product type, 2002 & 2004
- Figure 19: Total U.S. unit shipments of washers and dryers, by segment, 2002 & 2004
- Washing machines
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- Figure 20: Total U.S. manufacturer sales of washing machines, 1999-2004
- Figure 21: Chart: Total U.S. manufacturer sales of washing machines, 1999-2004*
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- Figure 22: Total U.S. unit shipments of washers, 1999 to 2004
- Dryers
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- Figure 23: Total U.S. manufacturer sales of dryers, 1999-2004
- Figure 24: Chart: Total U.S. manufacturer sales of dryers, 1999-2004*
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- Figure 25: Total U.S. unit shipments of dryers, 1999 to 2004
Supply Structure
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- Introduction
- Brand preferences
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- Figure 26: Purchase of appliances in last 24 months by brand, by product type, December 2004
- Company profiles
- Whirlpool
- GE Consumer & Industrial
- Maytag Corporation
- Electrolux Home Products (Frigidaire)
- Sears Holdings Corp (Kenmore)
- LG Electronics
- Haier America
- Samsung Electronics Co
Advertising & Promotion
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- Overview
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- Figure 27: Perceptions of leading brands, December 2004
- Whirlpool
- GE
- Maytag
- Electrolux AB
- Sears Holdings Corp (Kenmore)
- LG
- Samsung Electronics
The Consumer
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- Introduction
- Market participation by homeownership, recent remodeling, and recent house moves
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- Figure 28: Product ownership by homeownership, recent moves, and recent remodeling, January-September 2004
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- Figure 29: Recent purchase by homeownership, recent moves, and recent remodeling, January-September 2004
- Homeownership and recent remodeling by demographic group
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- Figure 30: Homeownership and recent remodeling, by demographic group, January-September 2004
- Ownership and recent purchase by marital status and income
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- Figure 31: Product penetration by marital status and household income, January-September 2004
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- Figure 32: Recent purchase by marital status and household income, January-September 2004
- Ownership and recent purchase by age and race/Hispanic origin
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- Figure 33: Product penetration by age and race/Hispanic origin, January-September 2004
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- Figure 34: Recent product purchase by age and race/Hispanic origin, January-September 2004
- Selection of respondents for washer and dryer ownership and recent purchase
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- Figure 35: Ownership of any household appliances, January-September 2004
- Reason for most recent purchase
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- Figure 36: Main reason for purchasing a new appliance, December 2004
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- Figure 37: Main reason for purchasing a new appliance, by demographics, December 2004
- Who is willing to upgrade from a working appliance and why?
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- Figure 38: Reasons to replace an appliance, by gender and family status, December 2004
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- Figure 39: Reasons to replace an appliance, by household age and race/Hispanic origin, December 2004
- Factors in product selection
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- Figure 40: Primary factors in selecting purchase, December 2004
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- Figure 41: Primary factors in selecting purchase, by demographics, December 2004
- Who will pay more for design-led products?
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- Figure 42: Willingness to pay 10% extra for a customized finish or color, December 2004
- Average sales price paid
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- Figure 43: Average price paid for appliances purchased in last 12 months, by demographics, November 2004
- Impact of additional income upon potential upgrades
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- Figure 44: Impact of increased income on replacement cycles and first-time purchases, December 2004
- Purchase of a single appliance vs. purchase of multiple appliances
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- Figure 45: Purchase of washer and dryer in same time period, December 2004
- Brand loyalty when purchasing multiple products
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- Figure 46: Loyalty to brand when both a washer and dryer are purchased, December 2004
- Conclusions
Future & Forecast
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- Future trends
- Continued increases in homeownership
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- Figure 47: New housing starts (single-unit, privately owned homes), 2000-2003*
- Increased energy efficiency to propel upgrades and price points
- Features and styling to sell more high-end product
- Front-loading washers to gain ground
- Moving laundry out of the laundry room
- Future penetration growth for dryers
- Home dry cleaning
- Market forecast
- Washers and dryers
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- Figure 48: Forecast of total U.S. manufacturer sales of washers and dryers, at current and constant prices, 2004-2009
- Figure 49: Chart: Forecast of total U.S. manufacturer sales of washers and dryers, at current and constant prices, 2004-2009
- Washers
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- Figure 50: Forecast of U.S. manufacturer sales of washers, at current and constant prices, 2004-2009
- Dryers
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- Figure 51: Forecast of U.S. manufacturer sales of dryers, at current and constant prices, 2004-2009
- Forecast factors
Appendix: Trade Associations
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