CONSUMER NEED AND AWARENESS

• According to ACHRNews, the demand for cooling solutions spikes in summer.
• Consumers are also planning ahead and seeking for more diverse solutions.
• Consumers who use long-term/permanent temperature control solutions are looking for specially designed products that closely meet their unique needs.

CONSUMER SATISFACTION

• Consumer Reports revealed that many portable air conditioners are returned by dissatisfied customers.
• Several factors include product size, noise, and cost.
•  Efficiency and portability are also factors for customer dissatisfaction.
• The top-rated brands for reliability are Whynter, Frigidaire, and Honeywell.

MCKINSEY'S CONSUMER JOURNEY

• McKinsey developed a consumer journey outline based on the purchase decisions of nearly 20,000 buyers across 5 industries.
• According to McKinsey, the consumer journey is segmented into 5 stages: Initial Consideration, Active Evaluation, Moment of Purchase, Postpurchase Experience, and Loyalty Loop.
• The traditional consumer journey is also segmented into 5 stages: Awareness, Familiarity, Consideration, Purchase, and Loyalty.

MARKET SIZE

• The global market size for portable air-conditioners was $204 million in 2017 and predicted to grow at a CAGR of 6% to 2022.
• The market is characterized as highly fragmented with many brands/players, which may affect consumer awareness.
• According to Technavio, smart and wireless portable air-conditioners are gaining popularity and driving high consumer adoption.
• Consumer awareness about eco-friendly and energy-efficient solutions is also driving the global market for portable air-conditioners.