The small appliances market was less impacted by the Coronavirus pandemic compared to major appliances. It registered a decrease of 1.9% compared to 6.5% for the latter. A major driver was consumers buying small appliances to help with daily activities while homebound, be it food preparation, cooking, cleaning or personal grooming. We predict that this habit-forming experience will persist in the long term.
This report comes in PPT.
The pandemic has brought an increased focus on the ongoing long-term trend towards health and hygiene. Consumers who have been homebound for extended periods of time have experimented and adapted to using appliances to improve their home hygiene and personal health. Once habits are formed, we expect these habits to persist in the long term.
Smart appliances are enabling consumers to derive greater value from their appliances. For example, the Philips AI-powered shaver, can conduct skin and shaving analysis, provide personalised shaving plans and guidance via the app. Similarly, AI-powered hair dryers, toothbrushes, and facial cleansers provide each user a personalised experience with brands able to collect consumer data at the same time. This trend also enables trends such as home health and automated kitchens.
Consumers stuck at home have been experimenting with different recipes in 2020. A great number of these consumers are novice chefs who rely a great deal on recipes found online. For example, the Ninja series of appliances has recipes that provides the user with step-by-step instructions on its website. These smart devices also enable the user to cook food from different cuisines.
With many spas and hair salons closed or providing limited service because of the pandemic, consumers started experimenting with appliances as a substitute in 2020. In a market that is extremely fragmented, the provision of personalised beauty through technology such as infrared and AI enables the increased effectiveness and accuracy of the treatment.
Small appliances saw the biggest increase in sales through online channels during the pandemic. Major factors influencing this include, small appliances are typically cheaper, easier to ship through existing e-commerce channels and typically do not require specialised help with installation. Live-streaming sales have also helped increase the amount of impulse purchasing during the pandemic
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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