The UK home laundry appliances market recorded a slight recovery in volume terms through 2012, posting growth of 1% year-on-year.
Growth in the home goods industry has traditionally been dictated by the state of the property market. When it was booming, the appliances market benefitted from the trend; however, when home sales slumped, sales too took a dive.
Although the housing marking is struggling as a result of the economic crisis, consumers are choosing to invest in their homes instead. Moreover, they are choosing to buy premium household appliances with features and functions that make their lives easier, chores more enjoyable and that save them money.
The current economy with its financial pressures influenced consumer purchasing patterns in the UK. Consumers are now more influenced by value rather than the price. In 2012, the consumers switched over to larger loads/capacity home laundry appliances from the lower load machines. These larger load for example 9kg and 11Kg washing machines not only save time but also reduce the repeated need to use the washing machine, thus saving energy and water usage.
Although this trend began in late 2011, it took off more strongly, pushing both volume and value growth into positive growth across the category, except for automatic tumble dryers, which declined by 2% in retail volume terms.
Indesit Co UK continued to dominate the UK home laundry appliances sector with a retail volume share of 31% in 2012. The company's volume share continued to decline in 2012, losing two percentage points due to increasing popularity and distribution of brands such as Beko. Meanwhile, Beko UK Ltd continued to maintain its 15% volume share in 2012 followed by other players such as Electrolux UK Ltd and BSH Home Appliances Ltd which contribute to 12% and 9% volume share.
The UK's home laundry appliances market is expected to continue its recovery over the next five years, posting a retail volume CAGR of 1%. With increasing attention to energy efficiency and space constraints, manufacturers will need to focus on innovative functions such as lesser water usage, increased spinning and integration of dryer functions.
For more information on the UK home laundry appliances market, see the latest research: UK Home Laundry Appliances Market
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