The kitchen remains the centre of our living space
TV cooking shows have inspired the consumer to fall in love with their kitchen appliances. New research from GfK highlights that, on average, a quarter of people entertain guests in their home either daily or weekly, and a further third entertain monthly.
SMART INNOVATION DRIVING MDA SALES
Few consumer sectors enjoy the pace of innovation and change that characterises the market for major domestic appliances. Better functionality, better energy efficiency and water savings rank among the advances in recent years and this has transformed choices.
But arguably the greatest change is poised to take off as suppliers develop smart connected appliances. Consumers are most interested in developments that could save them money on utility bills or call-out charges for repairs, however, there is a hurdle to overcome, as most connected appliances command a premium price. The smart appliance market is what everyone is talking about. Consumers are starting to understand the great benefits that connected appliances bring to their everyday lives, not only with regards to economy and resource savings, but also in terms of making their lives simpler.
With the home space morphing into one open plan area, the trend for entertaining at home shows no signs of abating, and the growth of built-in appliances, creating the must-have seamless appearance that integrates across the living space, is set to continue. While the global sales increase last year was just 0.5%, GfK says that this year there will most likely be considerable growth.
POSITIVE DEVELOPMENT IN EUROPE
GfK says that thanks to low interest rates and a good economic situation, consumers in Western Europe are also digging a bit deeper into their pockets when purchasing new ovens, refrigerators or dishwashers. While overall sales in this region were stagnant for the first half of the year, an increase of about 3% was recorded for built-in appliances. Premium segments like ovens with an integrated steam function (up 5.4%), flexible induction hobs (up 28.7%) or integrated hob extractors (up 122%) and builtin dishwasher (up 3.7%) sold especially well. A sales increase of 3-4% to around €16bn is expected in this region for the second half of the year.
GfK forecasts total sales of €180 billion in 2017 for the global MDA market – that is 5% more than in 2016
While overall sales in Europe were stagnant for the first half of the year, an increase of about 3% was recorded for built-in appliances
A sales increase of 3-4% for MDA to around €16bn
is expected in Western Europe for the second half of the year