WHITE GOODS MARKET TURNS BEARISH
A modest uptick of the market was recorded for the first quarter of the year, but in quarter two, both volume and value are down. The combined result of the first 2 quarters is a status quo in terms of growth versus the first half year of 2017. Some surprising conclusions were noted.
The washing family was in a remarkably positive shape over the last few months, with June being a strong outlier. Innovations in washing machines are breaking out and niche products are becoming mainstream. The growth of tumble dryers is still solely energy efficiency-driven. Built-in is pushing up volumes sold in the product group of dishwashers.
The popularity of cooling appliances fell sharply. This is against all odds, considering May and especially June were hot months, which should have spurred sales. Losses were seen in all segments, with even the popular American fridges suffering. The freezer market was also in a sea of red over the last 5 months.
Due to plunging average prices, cooking product groups have been dropping for a while now. The once highly in-demand range cookers are in decline, and induction
hobs are, strangely enough, losing ground to vitroceramic, while growth in hobs with
integrated hood has been parabolic. This inter-product group cannibalisation has also
had a negative effect on the hoods market.