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mindful – buying a refurbished product means that a valuable device remains in use, rather than being left unused, discarded or recycled – and amazing value for money, with top-of-the-range devices available at a cut-price cost. “We’re incredibly proud to support our customers on both of these fronts, thanks to our team in Newark who repair, refurbish and re-sell a whole host of previously unwanted tech.” The retailer’s research found that 75 per cent
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Currys reports a third of Brits prefer refurbished tech
Currys has reported that over a third (36 per cent) of Brits say they are more likely to buy second-hand tech this festive season. Looking at the motivating factors behind the
“refurbished revolution” in consumer tech, Steve Pendleton, Services Director at Currys, said: “We know that our customers are buying into this for two main reasons: a desire to be more environmentally
of respondents said they were worried about the growing amount of e-waste produced by appliances and electricals in the home, and over a quarter (29 per cent) said they would be more likely to buy refurbished rather than new devices if it helps them to reduce their environmental footprint. It also suggests that deal-savvy consumers with
increasing trust in refurbished tech are accelerating this boom, with half of respondents saying that buying pre-loved tech appeals to them as it helps them to save money amid the cost-of-living crisis. Not only that, but Currys found that this so-called
“refurbished revolution” is being led by younger generations, with 67 per cent of 18-24 year olds more likely to buy refurbished tech this year compared to this time last year.
Electrolux Group increases cost reductions and
Whirlpool and Arçelik merger expected to complete by April
Whirlpool and Arçelik merger expected to complete by April
Whirlpool has reported that it expects its merger with Arçelik will be in net sales in EMEA by 11.1 per cent – put down to the “weakened demand” in Europe. Overall, the company’s cost reduction actions delivered approximately
Recently the UK Competition and Markets Authority (CMA) opened an investigation into the merger with Arçelik. The Europe transaction has been approved by the European Commission, Germany, Austria and China. However, the CMA referred the transaction to ‘phase two’. It believes that the deal might affect competition in the sale of washing machines, tumble-dryers, dishwashers and cooking appliances. The appointed inquiry group has until 26 March 2024 to complete its investigations. Despite this, both appliance manufacturers said they expect to close the transaction by April.
Electrolux Group has released a statement outlining its plans to step up its cost reduction efforts due to “weak consumer demand and competitive pressure in the market” this year and this will result in a net cost saving of SEK 10-11bn (£738,000 – £812,000) in 2024. President and CEO, Jonas Samuelson, said: “The cost reduction target for 2024 vs 2022 is increased compared to the previous target of over SEK investments in innovation and marketing, combined.
to restore margins given the price pressure from input cost discrepancies.” The brand’s statement provided some details on how it will be moving
forward; it plans to target the mid and premium range categories with its main brands, where driving even more targeted portfolio management. It also plans to restructure its organisation into two global product lines where the Group said it will focus its business and investments. There will also be three new regional business areas and four global functions. All of these new divisions within the company will report to Mr Samuelson.
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