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Tim leads the consumer appliances research program globally, with a focus on data integrity, editorial content, client engagement and promoting industry thought leadership.
Tim advises clients on the impact of economic and consumer trends across all consumer appliance categories. His research interests are focused on the smart home, smart devices, business model innovation and consumer behaviour. Tim has a background in management consulting and market research. Over the past 15 years, he has advised global MNCs and government institutions on industry development, market entry strategy, and product development. He has an MBA from the National University of Singapore as well as a B.S.EE from Purdue University, USA.
In 2023, small appliances witnessed modest growth, mainly driven by the replacement of products purchased during the pandemic. The response to COVID-19 had a habit-forming impact on many consumers, who have become used to making coffee at home using espresso machines and enjoying the convenience of a robotic vacuum cleaner. Many of these appliances are now an integral part of a consumer’s home. However, growth was weaker than predicted, as high interest rates and inflation resulted in reduced disposable incomes.
The major consumer appliances market saw a challenging 2023 in volume sales terms as consumers continued to scale back amid inflation and economic uncertainties. However, industry innovations kept many interested, helping keep the major appliances market healthy in terms of value.
Heat pumps are the low-carbon heating and cooling systems of the future. The EU has identified them as a sustainable solution to reach its goal of energy independence and decarbonisation. In the long term, heat pumps have the potential to replace air conditioners and boilers, becoming the all-in-one air treatment appliance.