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Washers and Dryers - US - July 2014

“Bolstered by continued modest improvement in the economy and a strengthening housing market, sales of washers and dryers have turned in solid sales performance since the end of the recession, rising to an estimated $13.1 billion in 2014.”
- John Owen, Senior Household Analyst

This report looks at the following issues:

  • Encouraging Boomers to upgrade
  • Leveraging energy efficiency
  • Leveraging lifestyle features

 

Bolstered by continued modest improvement in the economy and a strengthening housing market, sales of washers and dryers have turned in a solid sales performance since the end of the recession, rising to an estimated $13.1 billion in 2014.
 
The prospects for continued growth in the next few years are solid as more consumers with aging appliances look to trade up to newer, more efficient models. In addition, manufacturers and retailers can accelerate growth by designing and marketing appliances to fit with an increasingly diverse array of lifestyle and life-stage needs.
 
This report focuses on the domestic U.S. market for automatic washing machines and dryers (gas and electric), including side-by-side and stackable units. Both front-loading and top-loading washers are included.
 
Excluded from this report are contract sales, second-hand appliances, and coin-operated appliances.

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Table of contents

  1. Scope and Themes

    • What you need to know
      • Definition
        • Data sources
          • Sales data
            • Consumer survey data
              • Abbreviations and terms
                • Abbreviations
                  • Terms
                  • Executive Summary

                      • The market
                        • Strengthening housing market gives washers and dryers a boost
                          • Figure 1: Total US retail sales and fan chart forecast of washers and dryers, at current prices, 2009-19
                        • Washers outsell dryers, but the two segments follow a similar course
                          • Figure 2: Total US sales of washers and dryers, by segment, 2009-13
                        • Housing market builds momentum in 2013
                          • Figure 3: New and existing home sales, 2009-13
                        • The consumer
                          • Most households own a washer and/or dryer
                            • Figure 4: Washers and dryer ownership, by household income, April 2014
                          • In addition to replacement, energy savings and new features drive sales
                            • Figure 5: Reasons for most recent purchase, by gender and age, April 2014
                          • Both online and in-store play a role in washer and dryer shopping
                            • Figure 6: Shopping behaviors, by timing of most recent purchase of any new washer and/or dryer, April 2014
                          • Price, reliability, and energy efficiency are key factors in purchase decisions
                            • Figure 7: Importance of product attributes, April 2014
                          • Conservation more likely than convenience or performance to command a premium
                            • Figure 8: Interest in and willingness to pay more for special features, April 2014
                          • What we think
                          • Issues and Insights

                              • Encouraging Boomers to upgrade
                                • The issues
                                  • The implications
                                    • Leveraging energy efficiency
                                      • The issues
                                        • The implications
                                          • Leveraging lifestyle features
                                            • The issues
                                              • The implications
                                              • Trend Applications

                                                  • Trend: Who Are the Joneses?
                                                    • Trend: Hungry Planet
                                                      • Trend: FSTR HYPR
                                                      • Market Size and Forecast

                                                        • Key points
                                                          • Strengthening housing market gives washers and dryers a boost
                                                            • Figure 9: Total US sales and forecast of washers and dryers, at current prices, 2009-19
                                                            • Figure 10: Total US sales and forecast of washers and dryers, at inflation-adjusted prices, 2009-19
                                                          • Energy efficiency serves as a selling point
                                                            • Figure 11: Total US retail sales and fan chart forecast of washers and dryers, at current prices, 2009-19
                                                          • Forecast methodology
                                                          • Market Drivers

                                                            • Replacement cycle, discretionary factors drive sales trends
                                                                • Figure 12: Reasons for most recent purchase, April 2014
                                                              • Industry competitors see key drivers remaining strong
                                                                • Housing market builds momentum in 2013
                                                                  • Figure 13: New and existing home sales, 2009-13
                                                                • Remodeling trends higher, creating more opportunities for appliance sales
                                                                  • Figure 14: BuildFax Remodeling Index, 2008-14
                                                                • Increasing stability in consumer confidence could help market
                                                                  • Figure 15: Thomson Reuters/University of Michigan index of consumer sentiment, 2009-14
                                                                • Homeownership rate declines, especially among younger adults
                                                                  • Figure 16: First quarter homeownership rate, by age of householder, 2007-14
                                                                • More households, but households getting smaller
                                                                  • Figure 17: Households, by presence of own children, 2003-13
                                                                  • Figure 18: Household size, 2003-13
                                                              • Segment Performance

                                                                • Key points
                                                                  • Washers outsell dryers, but the two segments follow a similar course
                                                                    • Dryers playing catch-up in energy efficiency
                                                                      • Figure 19: Total US sales of washers and dryers, by segment, 2009-13
                                                                  • Leading Companies

                                                                    • Whirlpool
                                                                      • General Electric
                                                                        • Electrolux
                                                                          • Samsung
                                                                            • LG
                                                                              • Haier
                                                                              • Innovations and Innovators

                                                                                • Feature focus
                                                                                  • Smart innovations continue
                                                                                    • Whirlpool Smart washer and dryer work with Nest
                                                                                      • LG HomeChat
                                                                                        • Samsung large capacity
                                                                                          • Samsung baby care washer
                                                                                          • Marketing Strategies

                                                                                            • The new Maytag Man an effort to personify dependability
                                                                                              • Figure 20: Maytag “Tough Loads” television ad, 2014
                                                                                            • LG “Mom Confessions” puts a twist on time savings and convenience
                                                                                              • Figure 21: LG “That Was Quick” television ad, 2014
                                                                                            • Samsung conveys the emotional importance of fabric care
                                                                                              • Figure 22: Samsung “The T-Shirt” television ad, 2014
                                                                                          • Social Media

                                                                                              • Key points
                                                                                                • Market overview
                                                                                                  • Key social media metrics
                                                                                                    • Figure 23: Key performance indicators, selected washer and dryer brands, June 30, 2013-June 29, 2014
                                                                                                  • Brand usage and awareness
                                                                                                    • Figure 24: Brand usage and awareness of washers and dryers, April 2014
                                                                                                  • Interaction with brands
                                                                                                    • Figure 25: Interaction with retailer washers and dryers, April 2014
                                                                                                  • Leading online campaigns
                                                                                                    • Social media giveaways
                                                                                                      • DIY Vines
                                                                                                        • Social media storytelling
                                                                                                          • Interactive displays bridging offline with online
                                                                                                            • What we think
                                                                                                              • Online conversations
                                                                                                                • Figure 26: Online mentions, selected washer and dryer brands, June 30, 2013-June 29, 2014
                                                                                                              • Where are people talking about washer and dryer brands?
                                                                                                                • Figure 27: Mentions by page type, selected washer and dryer brands, June 16, 2013-June 15, 2014
                                                                                                              • What are people talking about online?
                                                                                                                • Figure 28: Mentions by topic of conversation, selected washer and dryer brands, June 30, 2013-June 29, 2014
                                                                                                            • Washer and Dryer Ownership

                                                                                                              • Key points
                                                                                                                • Most households own a washer and/or dryer
                                                                                                                  • Figure 29: Washers and dryer ownership, by gender and age, April 2014
                                                                                                                • Ownership rates increase with household income
                                                                                                                  • Figure 30: Washers and dryer ownership, by household income, April 2014
                                                                                                              • Types of Washers/Dryers Owned, Purchase Timing

                                                                                                                • Key points
                                                                                                                  • Market moves to high efficiency
                                                                                                                    • Figure 31: Types of laundry appliances owned and timing of purchase, April 2014
                                                                                                                  • Lower-income households likely to own traditional top-loading washers
                                                                                                                    • Figure 32: Types of laundry appliances owned, by household income, April 2014
                                                                                                                • Reasons for Purchase

                                                                                                                  • Key points
                                                                                                                    • Energy savings and new features could be leveraged to accelerate sales
                                                                                                                      • Boomers’ older washers and changing lifestyles point to an opportunity
                                                                                                                        • Figure 33: Reasons for most recent purchase, by gender and age, April 2014
                                                                                                                      • More affluent consumers could be convinced to invest in new appliances
                                                                                                                        • Figure 34: Reasons for most recent purchase, by household income, April 2014
                                                                                                                      • Water and energy conservation more likely to factor into recent purchases
                                                                                                                        • Figure 35: Reasons for most recent purchase, by timing of most recent purchase of any new washer and/or dryer, April 2014
                                                                                                                    • Purchase Locations

                                                                                                                      • Key points
                                                                                                                        • A few channels dominate washer and dryer sales
                                                                                                                          • Online increasingly important in shopping and purchase
                                                                                                                            • Figure 36: Where most recent purchase was made, by timing of most recent purchase of any new washer and/or dryer, April 2014
                                                                                                                          • Younger shoppers more likely to have purchased at Home Depot or online
                                                                                                                            • Figure 37: Where most recent purchase was made, by gender and age, April 2014
                                                                                                                        • Shopping Behaviors

                                                                                                                          • Both online and in-store play a role in washer and dryer shopping
                                                                                                                            • Figure 38: Shopping behaviors, by timing of most recent purchase of any new washer and/or dryer, April 2014
                                                                                                                        • Attribute Importance

                                                                                                                          • Key points
                                                                                                                            • After price, reliability and energy efficiency most likely to be important
                                                                                                                              • A variety of other factors influence choice
                                                                                                                                • Figure 39: Importance of product attributes, by gender and age, April 2014
                                                                                                                              • Price is especially important to lower-income shoppers
                                                                                                                                • Figure 40: Importance of product attributes, by household income, April 2014
                                                                                                                            • Interest in Special Features

                                                                                                                              • Key points
                                                                                                                                • Highest water- and energy-efficiency ratings generate greatest interest
                                                                                                                                  • Relatively few willing to pay more for other convenience and performance features
                                                                                                                                    • Young adults especially interested in added features
                                                                                                                                      • Figure 41: Willingness to pay more for special features, by gender and age, April 2014
                                                                                                                                    • High-income purchasers especially interested in paying more to save
                                                                                                                                      • Figure 42: Willingness to pay more for special features, by household income, April 2014
                                                                                                                                  • Impact of Race and Hispanic Origin

                                                                                                                                    • Black and Hispanic households less likely to own washers/dryers
                                                                                                                                      • Figure 43: Washers and dryer ownership, by race/Hispanic origin, April 2014
                                                                                                                                      • Figure 44: Types of laundry appliances owned, by race/Hispanic origin, April 2014
                                                                                                                                    • Reasons for purchase relatively consistent across groups
                                                                                                                                      • Figure 45: Reasons for most recent purchase, by race/Hispanic origin, April 2014
                                                                                                                                    • Importance of price, reliability, efficiency consistent across groups
                                                                                                                                      • Figure 46: Importance of product attributes, by race/Hispanic origin, April 2014
                                                                                                                                      • Figure 47: Willingness to pay more for special features, by race/Hispanic origin, April 2014
                                                                                                                                  • Custom Consumer Groups

                                                                                                                                      • Young and affluent consumers represent a core target for major appliances
                                                                                                                                        • Figure 48: Washers and dryer ownership, by age and household income, April 2014
                                                                                                                                      • Young affluent consumers especially likely to own HE washers
                                                                                                                                        • Figure 49: Types of laundry appliances owned, by age and household income, April 2014
                                                                                                                                      • Young affluents likely to cite moving and renovation as purchase motivations
                                                                                                                                        • Figure 50: Reasons for most recent purchase, by age and household income, April 2014
                                                                                                                                      • Young affluents favor Home Depot, online
                                                                                                                                        • Figure 51: Where most recent purchase was made – Any purchase, by age and household income, April 2014
                                                                                                                                      • Combination of online and in-store important in reaching young affluents
                                                                                                                                        • Figure 52: Shopping behaviors, by age and household income, April 2014
                                                                                                                                      • Added benefits, design especially appealing to young fluent purchasers
                                                                                                                                        • Figure 53: Willingness to pay more for special features, by age and household income, April 2014
                                                                                                                                    • Appendix – Other Useful Consumer Tables

                                                                                                                                      • Washer and dryer ownership
                                                                                                                                        • Figure 54: Washers and dryer ownership, by household size, April 2014
                                                                                                                                      • Types of laundry appliances owned and timing of purchase
                                                                                                                                        • Figure 55: Types of laundry appliances owned, by gender and age, April 2014
                                                                                                                                        • Figure 56: Types of laundry appliances owned, by household size, April 2014
                                                                                                                                      • Reasons for purchase
                                                                                                                                        • Figure 57: Reasons for most recent purchase, by household size, April 2014
                                                                                                                                      • Where purchased
                                                                                                                                        • Figure 58: Where most recent purchase was made, April 2014
                                                                                                                                        • Figure 59: Where most recent purchase was made – Any purchase, by household income, April 2014
                                                                                                                                        • Figure 60: Where most recent purchase was made – Any purchase, by household size, April 2014
                                                                                                                                      • Shopping behaviors
                                                                                                                                        • Figure 61: Shopping behaviors, by gender and age, April 2014
                                                                                                                                        • Figure 62: Shopping behaviors, by household income, April 2014
                                                                                                                                        • Figure 63: Shopping behaviors, by household size, April 2014
                                                                                                                                      • Attribute importance
                                                                                                                                        • Figure 64: Importance of product attributes, by household size, April 2014
                                                                                                                                      • Interest in special features
                                                                                                                                        • Figure 65: Willingness to pay more for special features, by household size, April 2014
                                                                                                                                    • Appendix – Social Media

                                                                                                                                      • Brand analysis
                                                                                                                                        • Figure 66: Whirlpool key social media indicators, June 2014
                                                                                                                                        • Figure 67: Maytag key social media indicators, June 2014
                                                                                                                                        • Figure 68: General Electric key social media indicators, June 2014
                                                                                                                                        • Figure 69: LG key social media indicators, June 2014
                                                                                                                                        • Figure 70: Samsung key social media indicators, June 2014
                                                                                                                                        • Figure 71: Electrolux key social media indicators, June 2014
                                                                                                                                      • Online conversations
                                                                                                                                        • Figure 72: Online mentions, selected washer and dryer brands, total social universe mentions, June 30, 2013-June 29, 2014
                                                                                                                                        • Figure 73: Online mentions, selected washer and dryer brands, Word Normalized, June 30, 2013-June 29, 2014
                                                                                                                                      • Brand usage or awareness
                                                                                                                                        • Figure 74: Brand usage or awareness, April 2014
                                                                                                                                        • Figure 75: Whirlpool usage or awareness, by demographics, April 2014
                                                                                                                                        • Figure 76: General Electric usage or awareness, by demographics, April 2014
                                                                                                                                        • Figure 77: Electrolux usage or awareness, by demographics, April 2014
                                                                                                                                        • Figure 78: LG usage or awareness, by demographics, April 2014
                                                                                                                                        • Figure 79: Samsung usage or awareness, by demographics, April 2014
                                                                                                                                        • Figure 80: Maytag usage or awareness, by demographics, April 2014
                                                                                                                                      • Activities done
                                                                                                                                        • Figure 81: Activities done, April 2014
                                                                                                                                        • Figure 82: Whirlpool – Activities done – I have looked up/talked about this brand online on social media, by demographics, April 2014
                                                                                                                                        • Figure 83: Whirlpool – Activities done – I have contacted/interacted with the brand online on social media to, by demographics, April 2014
                                                                                                                                        • Figure 84: Whirlpool – Activities done – I have researched the brand on social media to, by demographics, April 2014
                                                                                                                                        • Figure 85: General Electric – Activities done – I have looked up/talked about this brand online on social media, by demographics, April 2014
                                                                                                                                        • Figure 86: General Electric – Activities done – I have contacted/interacted with the brand online on social media to, by demographics, April 2014
                                                                                                                                        • Figure 87: General Electric – Activities done – I have researched the brand on social media to, by demographics, April 2014
                                                                                                                                        • Figure 88: LG – Activities done – I have looked up/talked about this brand online on social media, by demographics, April 2014
                                                                                                                                        • Figure 89: LG – Activities done – I have researched the brand on social media to, by demographics, April 2014
                                                                                                                                        • Figure 90: Samsung – Activities done – I have looked up/talked about this brand online on social media, by demographics, April 2014
                                                                                                                                        • Figure 91: Samsung – Activities done – I have researched the brand on social media to, by demographics, April 2014
                                                                                                                                        • Figure 92: Maytag – Activities done – I have looked up/talked about this brand online on social media, by demographics, April 2014
                                                                                                                                        • Figure 93: Maytag – Activities done – I have researched the brand on social media to, by demographics, April 2014
                                                                                                                                    • Appendix – Trade Association

                                                                                                                                      Companies Covered

                                                                                                                                      • Association of Home Appliance Manufacturers
                                                                                                                                      • Bloomberg L.P.
                                                                                                                                      • Electrolux Home Products - North America
                                                                                                                                      • General Electric Company
                                                                                                                                      • Haier America
                                                                                                                                      • Hotpoint Appliances
                                                                                                                                      • LG Electronics Inc (USA)
                                                                                                                                      • Maytag Corporation
                                                                                                                                      • Procter & Gamble Company (The)
                                                                                                                                      • Samsung Electronics (USA)
                                                                                                                                      • Sears Holdings Corporation
                                                                                                                                      • Walmart Stores (USA)
                                                                                                                                      • Whirlpool Corporation

                                                                                                                                      Washers and Dryers - US - July 2014

                                                                                                                                      £3,199.84 (Excl.Tax)