IFA 2012: Small Appliances Infiltrate the 'Lifestyle' Category
At the IFA White Goods Overview, IFA Chairman of Household Appliances Divisions, Dr. Reinhard Zinkann took an optimistic view of the current climate.
Major home appliance sales have grown 8% to $178 billion worldwide. The US has stabilized, although at a low level, and saw 12% growth in 2011. The housing recovery could help North America with purchases and remodeling helping drive large appliance upgrades. Still there is no reason to expect growth to speed up or slow down in the near future. Asia is still a driving force, but growth has slowed down.
Small appliances have the potential to sell for higher prices and better profits. Appliances like expresso machines, steam generators, and robotic vacuums are selling well. The exciting development is that lifestyle products have found their way into kitchens and bathrooms. Consumers no longer view appliances as simply working tools, and are willing to pay more for them.