Evaluating the current market for small electrical appliances in Progressive Electrical, GfK’s client solutions consultant Bruce Denton recognises that many consumers are keen to see how their purchase can save them money in the longer term.
‘Consumers are cutting back, but for many investing in a new kitchen appliance will save them money, time and energy – ‘repaying’ the initial price of the appliance over the longer term – something a Friday night takeaway, a trip to the cinema or a subscription to a TV streaming service won’t do,’ notes Bruce.
‘Tabletop coffee machines produce a barista quality cup of coffee at a fraction of the cost of a visit to a coffee shop – so canny consumers may see a purchase as a long-term cost saving measure. The market took off in April 2020 when the expression ‘hybrid-working’ gained popularity. Q1 2022 has seen sales values fall 13% versus Q1 2021 but remains 24% up compared to the pre-Covid world of Q1 2020’.
Meanwhile air fryers are a bestselling category whose popularity looks set to continue. Bruce highlights: ‘Hot air fryers use less energy to produce quality results in less time than a conventional oven and are considerably healthier than their deep fat fryer competitors. Driven by hot air fryer models the category is up 31% in value on Q1 2021 and a staggering 153% on Q1 2020.’
* For the full article by GfK’s Bruce Denton, see pages 16-17 of Progressive Electrical.
