Purchases of large cooking appliances are largely linked to home acquisitions, and as the housing market slowed significantly in 2017 and 2018, this also had an effect on large cooking appliances. During the past decade housing prices rose dramatically, but in 2017 they began to slow with the implementation of the government’s Buyer's Price plan, which offers apartments at lower-than-market prices.
At the beginning of 2018, customs taxes on cookers and ovens were cancelled by the Ministry of Economy, enabling companies to lower their prices and causing value sales growth to drop. Customs taxes were previously 12% but despite being “cancelled”, the full percentage discount was not reflected in the end price to consumers, as retailers only lowered their prices by 3-4%, allowing themselves a larger margin.
Built-in cooking appliances are growing while freestanding appliances are in decline due to the impact of home design. Many consumers hire interior designers and architects when renovating or constructing their homes, who emphasise sleek and modern designs.
BSH leads large cooking appliances with its Siemens, Bosch and Constructa brands. Thanks to their strong recognition and presence in other consumer appliances categories, BSH’s brands are considered reliable and of high quality and are therefore also widely recommended by professionals.
However, the leading brand is owned by Electra Consumer Products, Sauter, which offers a wide range of products at lower prices than BSH’s brands. Sauter also offers several cookers with two ovens, which address the ultra-orthodox population who seek such products due to the Jewish laws that require separation between dairy and meat products.
Electronics and appliance specialist retailers remain by far the leading channel in large cooking appliances. Although information is widely available online and consumers can easily compare prices and purchase products online, when it comes down to the final decision they prefer to consult with salespeople.
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This industry report originates from Passport, our Consumer Appliances market research database.