Home Appliances Purchasing Factors

Goals

Determine the factors that influence home appliance purchases. The information will be used to understand consumer behavior towards large appliance purchases.

Early Findings

LARGE HOME APPLIANCES PURCAHASING INSIGHTS
  • Based on a survey, the key considerations of consumers when purchasing household appliances are quality - 81%, good value for money - 80%, longevity - 69%, easy operation - 64%, energy efficiency - 56%, low price - 49%, design - 40%, brand - 39%, sustainability - 35%, innovative technology - 31%, special features - 27%, delivery terms and options - 17%, smart home connectivity - 10%, and others - 1%.
  • Around 85% of major appliances are still purchased from brick-and-mortar stores.
  • Meanwhile, online purchases of major appliances increased to "15% from 11% four years ago."
  • However, for major retailers such as Costco, 85% of its major appliances purchases were done online.
  • This could be due to the fact that the retailer has a bigger variety of products on its website compared to its brick-and-mortar stores.
  • Online sales of major appliance purchases are seen to rise by 3.5 percentage points.
  • Typically, consumers are less inclined to purchase major appliances on impulse.
  • Only around 18% of appliance purchases were completed on the same day.
  • When major appliances break, consumers typically need to replace them immediately.
  • Based on another survey, price is the main reason why consumers prefer a retailer over another.
  • The major appliance market experienced a low volume growth due to the rise in prices as a result of international trade disputes and a lagging housing sector.
  • Nevertheless, the positive outlook of the US economy and the housing market remain to be seen as the main drivers of major appliance purchase.
  • The most heavy-hitting attributes of major appliances in 2018 were those that provide more usage options and those that enhanced basic appliance functions.

PROPRIETARY RESEARCH AVAILABLE

We found some proprietary research from one of our data partners which may be helpful:
The World Market for Consumer Appliances (Major) - (Euromonitor International, $1,325)
If you'd like us to purchase this report on your behalf, just let us know!

Research proposal:

Only the project owner can select the next research path.
Need a similar proposal? Let's launch your next project!