Competitor Strategies in Consumer Appliances

August 2023

Following significant growth in small appliance sales, driven by home seclusion during the pandemic, major appliance players are looking to capitalise on consumer demand by entering or re-entering the small appliance market. Small appliances that reduce cognitive and physical effort, provide value from advances in connectivity, and are central to healthy and hygienic home systems are projected to experience strong growth in the forecast period.

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Key Findings

Sustainability, a compelling strategy for appliance manufacturers

Sustainability has emerged as a compelling and essential strategy for appliance manufacturers worldwide. With growing awareness and concerns about environmental impact, consumers together with other stakeholders are increasingly prioritising sustainable products and practices.

Localisation strategy proved to be successful for Chinese firms

By understanding local markets, building strong distribution networks, collaborating with local partners and delivering affordable and value-driven products, these firms have achieved remarkable success on the global stage.

Consolidate to compete

Consolidation also enables companies to expand their geographic reach and penetrate new markets. By merging with or acquiring companies operating in different regions, businesses can access new customer segments and distribution channels.

Scope
Top 10 projected to perform well over forecast period
Brands are looking at diversifying portfolios
Leading the way as top brands in both consumer appliances and electronics
Consolidation among major appliance companies
ESG and the importance of environmental sustainability to appliance companies
Sustainability, a compelling strategy for appliance manufacturers
CEOs are playing a dominant role
Regulatory pressures
Consumers are increasingly pushing for sustainable products
Net zero emissions is an important component of sustainability targets
Chinese manufacturers are ascending in Southeast Asia
Expanding segment of high income consumers
Localisation strategy of Chinese firms
Proximity and strong ties with the region proved to be advantageous
Why consolidation?
Factors determining success in consolidation
Whirlpool exits Europe
Impact on market share for major appliances in Europe
Key takeaways

Consumer Appliances

Consumer Appliances is the aggregation of major appliances and small appliances. Major appliances are an aggregate of the following categories: refrigeration appliances, home laundry appliances, dishwashers, large cooking appliances and microwaves. Small appliances are an aggregation of the following categories: food preparation appliances, small cooking appliances, vacuum cleaners, irons, personal care appliances, heating appliances and air treatment appliances.

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