Canadians see the value of investing in their homes. According to a recent study by CIBC Poll, 45% of Canadian home owners are planning to renovate their home to add value to their property.
As Canadians try to provide a sophisticated look to their home, built-in large cooking appliances are becoming more desired in kitchens. Buying or maintaining a home is an important objective for Canadians and they try to ensure that the property is highly valued by fitting the best possible appliances.
Despite changing consumer attitudes and growing disposable incomes, the demand for large cooking appliances is driven by price and product performance. Consumers are well aware that the latest styles and technology will cost more, but may not add value to a home.
The leading player in large cooking appliances, Whirlpool, stresses the smart integration and technological features of its models. The company has introduced “Scan-to-Cook” technology to its wall ovens and ranges.
Although Electrolux maintained a strong presence in Canada in 2017, its retail volume sales and share fell in 2017, partly because replacement cycles resulted in lower demand. The company has been working on strategies to recover losses, such as launching new and innovative premium products and brand building.
Whirlpool has announced that its connected appliances, such as ovens and microwaves, will be compatible with Amazon’s Alexa, Google Assistant and Apple Watch. In addition, KitchenAid Smart Oven features oven-powered attachments that enable grilling, stone cooking and steaming.
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This industry report originates from Passport, our Consumer Appliances market research database.