small appliances market overview
in association with GfK Premium categories continue to grow in 2010
The small appliances market posted a good growth in 2010 which is likely to continue in 2011, as consumers upgrade their budget purchases to more durable and premium products, comments Ben Mansell, GfK Senior Account Manager, Small Domestic Appliances.
The small domestic appliances (SDA) market continued to perform well in 2010 and posted another year of impressive value growth. During the peak of the recession, SDA maintained volume sales helped by the fact that many of its major categories (such as kettles and hair dryers) are seen as ‘must have’ products, even though the average selling price (ASP) fell, as consumers opted for the cheapest options available. Hoping that the worst of the economic downturn is over, consumers have begun upgrading their budget purchases of the last few years to more durable, premium products. As a result, SDA posted an impressive 10% growth in value for 2010 vs. 2009, with an overall estimated market value of £2.3bn. This makes SDA the second fastest growing of all durable sectors, beaten only by telecommunications.
Ben Mansell
Kitchen appliances Small kitchen appliances (SKA) matched the overall trend in SDA, as consumers looked to upgrade their recessionary purchases to more durable, premium products. Overall, SKA was almost perfectly flat in volume terms, with only 41,000 more kitchen appliances being purchased in 2010 than in 2009 (a growth of 0.1%). However, the average value of the products increased from £24.34 to £26.34, resulting in the overall value of the market growing from £645m in 2009 to £702m in 2010. This trend is rapidly reversing the widespread price erosion seen during the recessionary years. Unsurprisingly, it has been the performance of the core ‘must have’ markets that have underpinned value growth in the overall category. Kettles remains the largest market at £172 million, contributing 30.7% to the volume of total SKA (unchanged from last year) and 24.5% to the value (down 0.3% from last year). Kettles grew by 0.4% in volume in
The consumers who would have purchased the cheapest products they could to see them through the recession are now looking to upgrade to the more mid-range models
“ ” IndependentElectricalRetailer 74
BusinessBook2011
Page 1 |
Page 2 |
Page 3 |
Page 4 |
Page 5 |
Page 6 |
Page 7 |
Page 8 |
Page 9 |
Page 10 |
Page 11 |
Page 12 |
Page 13 |
Page 14 |
Page 15 |
Page 16 |
Page 17 |
Page 18 |
Page 19 |
Page 20 |
Page 21 |
Page 22 |
Page 23 |
Page 24 |
Page 25 |
Page 26 |
Page 27 |
Page 28 |
Page 29 |
Page 30 |
Page 31 |
Page 32 |
Page 33 |
Page 34 |
Page 35 |
Page 36 |
Page 37 |
Page 38 |
Page 39 |
Page 40 |
Page 41 |
Page 42 |
Page 43 |
Page 44 |
Page 45 |
Page 46 |
Page 47 |
Page 48 |
Page 49 |
Page 50 |
Page 51 |
Page 52 |
Page 53 |
Page 54 |
Page 55 |
Page 56 |
Page 57 |
Page 58 |
Page 59 |
Page 60 |
Page 61 |
Page 62 |
Page 63 |
Page 64 |
Page 65 |
Page 66 |
Page 67 |
Page 68 |
Page 69 |
Page 70 |
Page 71 |
Page 72 |
Page 73 |
Page 74 |
Page 75 |
Page 76 |
Page 77 |
Page 78 |
Page 79 |
Page 80 |
Page 81 |
Page 82 |
Page 83 |
Page 84 |
Page 85 |
Page 86 |
Page 87 |
Page 88 |
Page 89