According to MarketWatch, the global appliances market is forecast to reach $25860 million by 2022. Yet while appliance manufacturers can plan for increased demand and greater output needs, it’s important for them to know key consumer trends could impact their manufacturing processes.
Trend #1: Shift in Home Size
Home sizes had been steadily increasing since the mid-1970s; however, this may no longer be the case. Today’s home buyers are increasingly interested in smaller homes and conserving space. This trend means appliance manufacturers should ensure their products can meet consumer preferences for compact home appliances that can fit into smaller spaces without reducing functionality.
Trend #2: Online Appliance Research
While consumers continue to largely purchase their appliances in-store, they increasingly conduct online research about appliance manufacturers prior to purchasing. Therefore, it’s important for manufacturers to have a strong digital presence and address any bad reviews online right away.
Trend #3: Connectivity
Consumers are also gravitating toward products that can be connected to their smart phones and offer wireless connectivity. For appliances, this is becoming no exception. In particular, consumers are interested in appliances that offer the ability to:
- Be controlled remotely from their phones
- Optimize energy use depending on the time of day
Smart appliances help address consumer preferences for ease of use and energy efficiency. Therefore, it’s a good idea for appliance manufacturers to consider this added level of functionality when designing products.
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