COMMENT AND OPINION | David Woollcott


The MD of New Zealand appliance brand Fisher and Paykel reflects on how the premium end of the market has remained reliable thanks to its ability to represent enduring value, even during tough economic times


market will always be STABLE


The premium


he past few months have seen the entire industry react, analyse, take stock and adapt. The return to retail in July has been a success and feedback from many of our KBB partners at the mid-to- premium end of the market is positive.


T


The sector is enjoying a boost right now, which proves that even in tough times, consumers are relying on dependable retailers selling trusted brands backed by strong infrastructures.


But what has led to this positive response in the wake of a global pandemic? The Government’s recent announcement of a stamp duty holiday will be a factor – and a new home can lead


to a new kitchen or


bathroom. A boost to the property market will almost always mean new opportunities for the KBB sector. In addition to retail, house builders also see the added value that a trusted premium brand such as Fisher and Paykel can bring to the kitchen and home. This is why we have a specific division responsible for builders, designers and developers in the UK. On the other hand, non-movers have spent the past few months working in their kitchens and picking up on areas in need of improvement. Some of us are spending quadruple the amount of time in our kitchens that we did before the pandemic to work, make coffee and prepare three or four meals a day. The time for the fully functional centre of the home is back – and it needs to be fit for purpose. A move to working from home has had a wider impact on how consumers view their living space. Working from home will remain a fact of life for many and homeowners can now consider moving a greater distance from their place of work and transport links, allowing them to purchase a larger property that may have previously been out of the question.


There is plenty of opportunity ahead for the premium market and studios will thrive for as long as they adapt and offer an excellent experience


kitchen has a gravitational pull. It is a space we are drawn to throughout the day. At Fisher and Paykel, we refer to this phenomenon as the ‘social kitchen’. The kitchen now needs to be a space in which to entertain friends and family, and an


ergonomic area to


accommodate those people working – or studying – at home.


Designers have an


opportunity to approach this with creativity, thanks to the naturally larger budgets from consumers in this


segment. Although it seems like a lifetime ago, kbb Birmingham showed us there is a huge appetite at the premium end for ‘something different’. Having a unique offering will set retailers apart. For example, who said appliances must be visible? Or even in the kitchen for that matter? At Fisher and Paykel, we have pioneered appliances in drawers for more than 20 years to give flexibility to consumers. Our CoolDrawer with variable temperature zones gracefully changes from freezer to pantry, to wine storage and would make the ultimate office, utility room or even a summer


house fridge. Designers should look to offer the option to roll elements of the kitchen into other rooms, allowing for more cohesive design throughout. Design approach aside, what do the next few months look like for


retail? For certain, we will start to see different approaches from studios. Virtual appointments will open up studios to more customers outside their catchment area, and we have already seen our partners perform these with success. Offering hygiene-focused technologies, such as touchless taps and antibacterial surfaces, will also keep retailers on the front foot.


Habits have changed, and consumers are looking to try cooking something new at home. As a result, they may even need appliances that offer elements such as specialised food storage. Kitchen studios should take this opportunity to look at expanding their refrigeration offering to give them an edge.


In the coming months, designers will also find a new and exciting challenge as the kitchen has now inherited a new function – the workspace. While consumers in the premium segment may have enough space for multiple home offices, there is no denying that the


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What is most encouraging is seeing confidence from big names. The announcement of Siemens’s new store in London this autumn is not only a positive move for BSH, but for the entire kitchen landscape. It shows confidence and will push the industry forwards, which can only be a good thing for the KBB sector at this time. At Fisher and Paykel, our strategy remains: we are dedicated to


growing the KBB sector and investing in bricks-and-mortar studios. There is plenty of opportunity ahead for the premium market, and studios will thrive for as long as they are able to adapt and offer an excellent experience.


· September 2020


OPINION DAVID WOOLLCOTT


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