Small appliances sales – additional information
The home appliance industry is composed of two main segments: major home appliances and small home appliances. Major domestic appliances include washing machines, dishwashers, refrigerators, freezers and microwave ovens to name a few, while small appliances are, for example, food processors, toasters and slow cookers. The global household appliances market shows growth projections for the coming years, and is forecast to increase its value to just over 588 billion U.S. dollars by 2020.
Sales of small domestic appliances amounted to around 70 billion U.S. dollars worldwide in 2015. In the U.S., Americans spent an average of 105.77 U.S. dollars on small appliances and miscellaneous housewares in 2014. Some categories within the small domestic appliance market are kitchen items such as blender/mixer systems, slow cookers, juice extractors, coffee makers and compact wine coolers. Hair dryers, irons, vacuum are also popular categories within this market. Sales of some of these categories are driven by the release of innovative features, while other categories rely on their basic functionalities as a selling point. For instance, costumers look for new features when shopping for a blender/mixer, or vacuum cleaners. Rice cookers, electric kettles, waffle irons are a few examples of small appliance categories for which sales are not necessarily driven by innovative features, but by their basic functionality.
Smart appliance is a promising trend for these innovation-driven small appliance categories. According to a recent survey about the use of connected devices, consumers are most likely to use smart appliances in the coming years.