The Major Kitchen Appliances market will feel the impact of Brexit induced consumer reluctance to spend on big ticket items, resulting in a period of sales decline. Price inflation will kick in as hedging runs out and supply chain costs increase on the back of currency fluctuations.
Online pureplays continue to threaten more mature multichannel retailers, utilizing lower supply chain costs to provide highly competitive prices and investing in attractive fulfillment capabilities to entice shoppers away rivals.
Retailers should focus on improving instore displays in what is typically a visually unexciting market, using mock kitchen setups instore to give consumers a clearer picture of how appliances would look at home.
While the full impact of Brexit remains to be seen, economic uncertainty will reduce the propensity for people to purchase a new house. Verdict data found over half of consumers consider price the most important factor in retailer choice, therefore to stimulate spend during a period of low demand retailers must invest strategically in price reductions and promotions.
While Verdict forecasts a decline in the major kitchen appliances market, this will be short lived. As the economy begins to recover from 2019, those people who were unable to make big-ticket purchases will need to replace existing appliances, releasing pent up demand and supporting stronger volume growth.
The Major Kitchen Appliances report offers comprehensive insight and analysis of the UK market, the major players, the main trends, and consumer attitudes. It also provides forecasts to 2021.
It provides in-depth analysis of the following:
The key issues
Market, retailer and consumer headlines
Market sizes and predictions for growth
In-depth profiles of the key retailers
Where people shop
Why people shop
Average spend at a product category level
Channel usage research and payment
Reasons To Buy
Utilize our five year forecasts to 2021 for individual sub-categories, online penetration and channels of distribution to enable targeted investment in high performing areas.
Identify the major brands and manufacturers in the major kitchen appliances market and utilize our in-depth analysis of how and why each retailer is performing as it is in the market to allow for benchmarking and a strategic advantage.
Recognize which consumers to target and how to drive spend from them by utilizing our shopper penetration data and understanding what influences their retailer selection and spending motivations.
Understand how the online channel can be better utilized to sell major kitchen appliances by using our online penetration and expenditure forecasts and analysis on channels and online fulfillment.