Cooking with confidence
Christmas is coming and the goose is getting fat, but what effect has the cost of living crisis had on the cooking market and what are consumers looking for when it comes to kitchen appliances? Sean Hannam peers into the oven and takes a look...
Peak season is a crucial time of year for most Retra members, as cooking appliances are often flavour of the month in the run-up to Christmas, with customers look to upgrade their ovens and cookers to cope with the rigours of creating festive food for their families. But with the UK in the grip of a cost of living crisis, what effect has
the lack of cash in consumers’ pockets had on the cooking market? “The cost of living crisis has affected both the built-in and
freestanding categories. Raw materials, energy, and wages have all increased markedly, resulting in a series of necessary price increases from manufacturers” says Steve Dickson, head of marketing at Glen Dimplex Home Appliances (GDHA). “Consumer confidence reached a 40-year low earlier this year
but, while the outlook for the coming year is uncertain, there are signs that consumers are more willing to invest in major appliances.” He adds: “With any economic crisis, consumer spending turns
to needs rather than wants – therefore we see sales more focused on ‘distress purchases’ and replacements rather than upgrades. “In this situation, the consumer is looking for reliable products, within their price point, that do the job and will last. Investing in a major purchase like a range cooker is a considered purchase, even in a strong economic climate. In tougher times, consumers will look to purchase a brand they can trust, and with features and benefits that actually benefit them.”
Soft
Over at Creda Home Appliances, which is a new Retra associate member, brand ambassador, Harriet Pavet-Golding, tells Alert:
“
We are cautiously optimistic about the cooking market for the festive season. We expect consumers to be very rational and careful, concentrating more on cost-efficient, low- energy and easy-to-use models, rather than complex, high-energy use products
Harriet Pavet-Golding, brand ambassador for Creda Home Appliances
“In the first three quarters of the year, the market – both
freestanding and built-in – has been soft, due to lockdowns ending and the base effect from 2022. We have seen double-digit decline in both freestanding and built-in, and volume going back to pre- pandemic levels in 2019.
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Cooking Feature
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