Premium products drive the Western Europe market


The Western European markets confirms the growing trend that sees consumers in this area focusing on premium appliances. According to GfK, willingness to invest in the place to live is reflected by the growth of value segments in household appliances. Multifunctional appliances with premium price (for example washdryer, hobs with integrated hoods or combi-steam ovens) are strong in demand and spark value growth. Also lifestyle plays a role, especially for small domestic appliances, when consumers are willing to spend more than 300 euros for a rechargeable handstick vacuum cleaner or a robot. Overall, it becomes evident that this overarching premium trend originates in consumers choosing for value segments offering more performance, convenience, quality or similar. While this drives prices up as a mix effect, like-for-like products usually are still experiencing price pressure. Consequently, permanent innovations justify the premium price which consumers were willing to pay in 2018. Last year, Technical Consumer Goods sales in Western Europe recorded an increase by 1.8%. Major domestic appliances grew by 0.3%, while small appliances saw a growth of almost 3%.