Welcome to Business Intelligence – Home Appliances, the eighth of Zenith’s Business Intelligence reports, which analyse the advertising, business and consumer behaviour trends shaping different categories.
Since the onset of the pandemic, a lot of people have spent a lot more time at home. They have also spent a lot less money on commuting, going out for entertainment and social events, and going on holiday, leading to a substantial increase in savings for the average household. After the initial shock during the first few months of the pandemic, consumers began spending some of these savings on making their homes more pleasant and efficient places to work, cook and relax in, which involved purchasing a lot of new or upgraded home appliances. This has helped home appliance advertising outperform the ad market as a whole during both the downturn and the recovery.
Home appliance brands already spend more than half their budgets on digital advertising, because home appliances have moved online well ahead of retail sales as a whole. But digital advertising will only become more important as brands continue to invest in online retailer partnerships and, for some higher-end brands, direct-to-consumer relationships.
In a sector with little variation in physical appearances, consumers’ rising expectations for environmental sustainability give brands the opportunity to differentiate by demonstrating their efficiency in using energy and water, and by offering recycling and rental services that extend the lives of appliances and components. Consumers are also looking for support with installation, finance and repairs. Brands that supply these services can use them to build ongoing relationships with their customers, instead of relying on infrequent separate transactions.
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