UK Major Domestic Appliances Market Report 2023
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Stay ahead of the curve in the major domestic appliances market and future-proof your business with Mintel’s UK Major Domestic Appliances Market Report 2023. Our full report is packed with consumer-led market intelligence, the latest trends and consumer behaviours affecting your industry, alongside data-driven recommendations. Get a 360° view of the major domestic appliances market including market size, share and forecasted growth to help you align your business strategy with your audiences’ needs. Below, we’ve handpicked key insights from the full report.
Characterised by high prices and energy-intensive nature, the major domestic appliance market is struggling, as consumers either delay or scale back on new purchases by turning to cheaper and more efficient options to mitigate energy bills and the rising cost of living. The slowdown of the housing market as a by-product of the economic downturn only serves to worsen the situation, as new movers are among the most likely to purchase major domestic appliances.
While the major domestic appliances market is partially insulated by the fact that most purchases are necessity-driven, stretched budgets mean many consumers will research and trade down to more affordable options, or turn to repairing services in a bid to extend product lifespan. The introduction of Right to Repair legislations is likely to make repairing at home more accessible, especially given the newfound confidence in DIY as a legacy of the pandemic. Reducing the need to make new purchases, the growth of the repairing trend could hamper the path to recovery of the major domestic appliances market.
Soaring energy costs over the past year have renewed consumers’ focus on sustainability and energy efficiency which is now becoming a key area of growth for retailers. Tapping into this momentum, brands and retailers alike are making the path to purchase energy-efficient electrical appliances increasingly accessible, by displaying information on how energy-efficient appliances are when compared with traditional models, and how much money consumers could save in the long run.
To learn how to connect with your audience, purchase our full UK Major Domestic Appliances Market Report 2023. Discover lucrative innovation opportunities to help your business grow during times of financial uncertainty.
Beki, Samsung, Hotpoint, Bosch, Indesit, Whirlpool, Zanussi, AEG, Neff, Miele, Siemens.
This report, written by Sam Nguyen, a leading analyst, delivers in-depth commentary and analysis to highlight current trends in the major domestic appliances market and add expert context to the numbers.
Already impacted by a natural rebalancing of in-home demands post-pandemic, the cost of living crisis and housing market slowdown as a by-product have taken a toll on the major domestic appliances sector. However, disruption also opens up new areas of demand, with energy efficiency the standout performer. In fact, half of consumers are interested in and willing to pay more for appliances with this feature. The newfound confidence in home cooking will potentially fuel new purchases of kitchen appliances, opening up opportunities in the refrigeration, cooker and dishwasher markets.”
Sam Nguyen
Retail Analyst
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Please Note: All of the figures, graphs, and tables in this sample report have been redacted.