World Market for Major Appliances

Delivery

This report comes in PPT.

Examining five trends shaping major appliances

The next stage for smart home is cross-operability and active use of smart tech

The adoption of smart appliances have been moderately fast but pushed by manufacturers rather than consumers. To attract consumers’ interest in smart tech and promote active searching for it, marketing of AI-powered appliances offers a window of opportunity, if the easing of everyday chores is explained. One of the biggest barriers continues to be interoperability between devices, where industry standards HCA and Matter are expected to make a difference provided manufacturers proactively release compatible models.

Home as a Service coming to appliances as manufacturers look for new sources of revenue

Already common in electronics, manufacturers are looking for new revenue streams coming from software rather than selling its own products. The concept Home as a Service is being tested more in appliances, from offering post-sale services such as downloadable programmes or repair services to offering appliance rental. As consumers become gradually more open to rental and subscriptions model, this is an impending trend in appliances.

Claims on sustainable materials and durability appreciated even in times of considered purchases

Marketing of durability or innovative materials is nothing new in consumer appliances, but with budgets being squeezed for many, we expect to see more considered spending, while being more receptive towards claims about durability and repairability. Customers also generally trust green labelling and increasingly consider it when making discretionary purchases, making it a smart premiumisation strategy in major appliances.

Personalisation as a way to upsell and allow greater accessibility

Personalisation has come a long way in major appliances, and now expands beyond simply allowing design choices such as colour of an appliance. The spread of AI-enabled functions opens doors to fully personalised programmes, learning patterns of usage and adjusting this for the needs of the individual. Emerging trends also include assistive technologies, thus making consumer appliances more accessible for the elderly and consumers with disabilities. Appliance manufacturers have a great opportunity in this area, as the average lifespan lengthens.

Home management systems pushed  by appliance manufacturers as a response to the energy crisis and automation

To level up energy efficiency and automation, manufacturers have reacted by focusing on home energy management systems (EMS) as seen at IFA23 in Berlin. EMS will allow customers to manage the energy of the entire home, interconnecting appliances and bringing energy benefits by monitoring all as one ecosystem. Consumers are also more receptive towards energy saving-related products and claims after spikes in energy prices.