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Competitor Strategies in Consumer Appliances

September 2022

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

Fragmented small appliances marketplace opens up opportunities for entry, expansion and innovation

Small appliances growth is being fuelled by greater market fragmentation and innovation, expanding price ranges that tap into both high-income households and those seeking affordable solutions, as well as consumer investment in healthy and hygienic homes.

Seek opportunities in healthy eating and hygienic home systems, as well as home automation

Appliances that are instrumental parts of the healthy and hygienic home are seeing the greatest advances in innovation and opportunities for healthy growth. Home automation also continues to offer opportunities for value-added innovation, especially in high-income households.

Successful innovation breaks traditional confinements of siloed product approach

Brands that touch multiple points of the healthy eating and hygienic home systems, rather than focusing on a single product and its stand-alone singular functionality, increase consumer value add and tap into revenue-generating opportunities across various points of the system.

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Scope
Top 10 projected to regain strength as costs, component supply and labour shortages normalise
Higher level of consolidation in major appliances than in small appliances globally
Top appliance players depend on a limited number of brands for revenues
Industry co-dependence creates synergies and supports smart tech innovation
Small appliances show fragmentation across regions, easing entry
Despite pandemic-driven growth in food delivery, baby boomers focus on cooking at home
While less kitchen-bound, millennials still rely a lot on home cooked meals
Haier re-enters the small appliance market after 36 years
Breaking silos: Opportunities in kitchen appliances as key part of healthy eating system
Partnerships between appliance brands and recipe firms expand revenue opportunities
Tovala: Building innovation around a system and optimising data mining
Health concerns, smart tech and pet ownership energise the vacuum cleaner category
Vacuum cleaners are key parts of hygienic home system…
…And an integral part of home automation and future homes evolution
Vacuum cleaner category is fragmented, opening up opportunities for SKU expansion
High pet ownership in high-income households as a platform for value-added innovation
Pet owners are more likely to own smart appliances and invest in new technology
Dyson targets wealthy pet owners excited about new tech and concerned about germs
Robotic vacuum cleaners: Healthy growth as tech improves, SKUs and price range expand
iRobot addresses previous pain points and caters to pet owners
Amazon’s acquisition of Roomba: Tour of users’ homes as part of smart home strategy
Samsung and TCL add smart home functionality to robotic vacuum cleaners
In China, vacuums that mop tap into home automation and offer time savings to consumers
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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