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Major Household Appliances - US - February 2017

"Innovation in the category and a healthy housing market has led to continued sales momentum in major household appliances. Mid-range brands have the highest current ownership among respondents, while higher-end brands have elevated ownership among young adults and higher earners. Replacement is the leading driver for appliance purchases, but appliances that offer better efficiency, performance, and productivity are driving purchase interest. Opportunities to drive replacement and sales growth are possible through improvements to energy efficiency and productivity features."
- Stephen Brown, Research Analyst

This Report discusses the following key topics:

  • Decline in households with children can dampen spending on new appliances
  • Low interest in major appliances with connectivity features

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Table of contents

  1. Overview

    • What you need to know
      • Definition
      • Executive Summary

        • Market overview
          • Healthy economy bolsters spending on appliances
            • Figure 1: Total US sales and fan chart forecast of major household appliances, at current prices, 2011-21
          • The issues
            • Decline in households with children can dampen spending on new appliances
              • Figure 2: Households, by presence of related children, 2006-16
            • Low interest in major appliances with connectivity features
              • Figure 3: Interest and willingness to pay more for new features in refrigerators/freezers, November 2016
            • The opportunities
              • Replacement and upgrades top reasons for purchase
                • Figure 4: Reasons for purchasing latest appliance, November 2016
              • Efficiency and productivity features drive purchase interest
                • Figure 5: Interest and willingness to pay more for new features in washers/dryers, November 2016
              • Aligning features of connected appliances with consumers’ needs
                • Figure 6: Any interest (net) in refrigerator connectivity features, by Hispanic origin and parental status, November 2016
              • What it means
              • The Market – What You Need to Know

                • Healthy overall economy and innovation push appliance sales up
                  • Sales in all three appliance segments perform well
                    • Smart home market offers growth prospects for connected appliances
                      • Home improvement market inspires appliance upgrades
                      • Market Size and Forecast

                        • Housing market and innovation lead sales in major appliances
                          • Figure 7: Total US sales and fan chart forecast of major household appliances, at current prices, 2011-21
                          • Figure 8: Total US retail sales and forecast of major household appliances, at current prices, 2011-21
                      • Market Breakdown

                        • Refrigerators, freezers, and dishwashers lead category sales
                          • Figure 9: sales of major household appliances, by segment, at current prices, 2011-16
                      • Market Perspective

                        • Connected appliances emerge through the smart homes market
                          • Entry points for connected appliances within smart home retailing
                            • Home improvement market drives spending on major appliances
                              • DIY retailing offers consumers new ways to visualize their appliance purchase
                              • Market Factors

                                • Appliance sales expected to level after peak in housing starts
                                  • Figure 10: New privately owned housing units started (seasonally adjusted), 2011-16
                                • Record-setting consumer confidence drives spending on appliances
                                  • Figure 11: Consumer Sentiment Index, December 2010-16
                                • Decline in households with children could challenge appliance market
                                  • Figure 12: Households, by presence of related children, 2006-16
                              • Key Players – What You Need to Know

                                • Global competition grows fierce in major household appliances
                                  • Energy-efficiency ratings and performance drive purchase interest
                                    • Brick-and-mortar stores evolve to improve customer experience
                                      • Legacy retailer loses ground and product recalls create concern
                                        • Compact designs and connected appliances continue to emerge
                                        • Category Review

                                          • Mid-range brands lead major household appliance market
                                            • Figure 13: major household appliance ownership by parent company, November 2016
                                          • Review of earnings for major household appliance manufacturers
                                          • What’s In?

                                            • Energy efficiency drives purchase interest for appliance shoppers
                                              • Figure 14: JCPenney email campaign for energy-efficient appliances, May 2016
                                              • Figure 15: Sears email campaigns for state tax incentives on energy-efficient appliances, May-September 2016
                                            • Brand leadership in energy-efficient appliances and innovations
                                              • Retailers strive to offer in-store experience to appliance shoppers
                                                • High-end retailers offer shoppers an interactive purchasing experience
                                                  • Need for speed drives innovation in cooking and laundry appliances
                                                    • Fast convection and commercial-grade ovens drive kitchen appliance innovation
                                                      • Flexible and fast cycles lead innovation in laundry appliances
                                                        • Consumer satisfaction sets bar for reliability of high-end brands
                                                        • What’s Out?

                                                          • Sears loses appliance retail share to home improvement stores
                                                            • Product recalls and cyber-security concerns challenge leading brands
                                                            • What’s Next?

                                                              • Compact designs enter spotlight at global trade shows
                                                                • Connected home appliances are joining smart home networks
                                                                  • In-store experience drives awareness and interest for connected appliances
                                                                  • The Consumer – What You Need to Know

                                                                    • Cooking appliances lead ownership, while laundry drives purchase
                                                                      • Mid-range appliance brands lead ownership with comprehensive lines
                                                                        • Appliance breakdowns is top reason for new purchase
                                                                          • Online and in-store research helps with selecting an appliance
                                                                            • Appliance maintenance attitudes differ by experience in ownership
                                                                              • Efficiency, flexibility, and speed drive purchase interest for appliances
                                                                              • Appliance Ownership

                                                                                • Kitchen appliances lead ownership, while laundry leads recent purchase
                                                                                  • Figure 16: Appliances owned and recently purchased, November 2016
                                                                                • Repertoire analysis reveals most consumers own several appliances
                                                                                  • Figure 17: Repertoire of any current appliance ownership (net), November 2016
                                                                                • Recent purchase reflects on greater needs at certain lifestages
                                                                                  • Figure 18: Whirlpool’s commercial puts spotlight on young parents, January 2017
                                                                                  • Figure 19: recent purchase of clothes washer and refrigerator freezer combination, by age, November 2016
                                                                                • Higher-income earners, homeowners purchase a variety of appliances
                                                                                  • Figure 20: recent purchase of specialty appliances, by income and by primary residence, November 2016
                                                                                • Recent purchases by Hispanics focus on specialty appliances
                                                                                  • Figure 21: recent purchase of specialty appliances, by Hispanic origin, November 2016
                                                                                • In their words:
                                                                                • Brand Ownership

                                                                                  • Mid-range brands lead appliance ownership
                                                                                    • Figure 22: Appliance brands currently owned in households, November 2016
                                                                                  • Age and income dictate type of brand owned
                                                                                    • Figure 23: ownership of Kenmore, LG, and Samsung, by age, November 2016
                                                                                  • Higher-end brands have strong penetration in upper-income households
                                                                                    • Figure 24: Ownership of high-end brands, by household income, November 2016
                                                                                  • Parents own high-end brands that deliver capacity and performance
                                                                                    • Figure 25: Ownership of LG and Samsung, by parental status, November 2016
                                                                                  • Hispanics less likely to own legacy brands
                                                                                    • Figure 26: Select brand ownership, by Hispanic origin, November 2016
                                                                                  • In their words:
                                                                                  • Reasons for Purchasing

                                                                                    • Breakdown of previous appliance tops reasons for recent purchase
                                                                                      • Figure 27: Reasons for purchasing latest appliance, November 2016
                                                                                    • Young adults are purchasing appliances for new features and size
                                                                                      • Figure 28: Purchasing for new features and upgrades, any rank, by age, November 2016
                                                                                    • Higher-income earners purchase appliances as part of a renovation
                                                                                      • Figure 29: Purchasing as part of a remodel, any rank, by household income, November 2016
                                                                                    • Appliance purchases among Hispanics signal a growing consumer base
                                                                                      • Figure 30: Select reasons for purchasing, any rank, by Hispanic origin, November 2016
                                                                                  • Behavior toward Appliance Purchasing

                                                                                    • Online, in-store research are common ways to find the right appliance
                                                                                      • Figure 31: Behavior toward purchasing appliances, November 2016
                                                                                    • Parents and young adults are more engaged in purchase process
                                                                                      • Figure 32: Select behaviors toward purchasing, by parental status and by age, November 2016
                                                                                    • In-store experience helps homeowners in purchase process
                                                                                      • Figure 33: Select behaviors toward purchasing appliances, by primary residence, November 2016
                                                                                    • Hispanics look for bargains
                                                                                      • Figure 34: Behaviors related to promotions and warranties when purchasing appliances, by Hispanic origin, November 2016
                                                                                    • In their words:
                                                                                    • Attitudes toward Appliance Maintenance

                                                                                      • Moderate satisfaction in appliances creates opportunities for brands
                                                                                        • Figure 35: attitudes toward maintaining major appliances, November 2016
                                                                                      • Young adults take more steps toward maintenance
                                                                                        • Figure 36: Attitudes toward appliance repair, by age, November 2016
                                                                                      • Higher-income owners satisfaction attributed to premium brands
                                                                                        • Figure 37: Attitudes toward warranties and higher-end brands, by household income, November 2016
                                                                                      • Hispanics aim to avoid headache of appliance breakdown
                                                                                        • Figure 38: Attitudes toward repair and warranties, by Hispanic origin, November 2016
                                                                                      • In their words:
                                                                                      • Interest in Appliance Features

                                                                                        • Energy efficiency, flexibility, and speed drive appliance purchase interest
                                                                                          • Interest in energy-efficiency rating leads interest in washers/dryers and category
                                                                                            • Figure 39: Interest and willingness to pay more for new features in washers/dryers, November 2016
                                                                                          • Cooking and cleaning speeds drive purchase interest in ovens/ranges
                                                                                            • Figure 40: Interest and willingness to pay more for new features in ovens/ranges, November 2016
                                                                                          • Flexible and convertible spaces in refrigerators/freezers are purchase interest drivers
                                                                                            • Figure 41: Interest and willingness to pay more for new features in refrigerators/freezers, November 2016
                                                                                          • Young adults have a need for speed in their appliances
                                                                                            • Figure 42: Interested in and willing to pay for select appliance features related to speed and convenience, by age, November 2016
                                                                                          • Interest in productivity features piques in middle-income brackets
                                                                                            • Figure 43: Interested and willing to spend for select appliance features, by household income, November 2016
                                                                                          • Larger households drive interest in features that boost productivity
                                                                                            • Connectivity features spark interest among parents and Hispanics
                                                                                              • Figure 44: Any interest (net) in capacity, speed, and connectivity features, by Hispanic origin, parental status, and household size, November 2016
                                                                                            • In their words:
                                                                                            • Appendix – Data Sources and Abbreviations

                                                                                              • Data sources
                                                                                                • Sales data
                                                                                                  • Fan chart forecast
                                                                                                    • Consumer survey data
                                                                                                      • Consumer qualitative research
                                                                                                        • Direct marketing creative
                                                                                                          • Abbreviations and terms
                                                                                                            • Abbreviations
                                                                                                            • Appendix – Market

                                                                                                                • Figure 45: Total US retail sales and forecast of major household appliances, at inflation-adjusted prices, 2011-21
                                                                                                                • Figure 46: Total US retail sales and forecast of washers and dryers, at current prices, 2011-21
                                                                                                                • Figure 47: Total US retail sales and forecast of refrigerators, freezers, and dishwashers, at current prices, 2011-21
                                                                                                                • Figure 48: Total US retail sales and forecast of ranges, ovens, cooktops, microwaves, at current prices, 2011-21
                                                                                                            • Appendix – Consumer

                                                                                                              • Appliance satisfaction highest among older owners with oven/range
                                                                                                                • Figure 49: Appliance maintenance attitudes – CHAID – Tree output, December 2016
                                                                                                              • Methodology

                                                                                                              Companies Covered

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                                                                                                              Major Household Appliances - US - February 2017

                                                                                                              US $3,995.00 (Excl.Tax)