By Lisa Johnston
New products on display at the American International Toy Fair, held in N
LG Electronics was the U.S. market share leader in residential front-load clothes washers and dryers during the second quarter of 2007.
The brand's No. 1 ranking, by revenue, was determined by The Stevenson Company's TraQline report.
LG's laundry line reached the milestone less than four years after entering the U.S. market, aided, the vendor said, by the popularity of such innovations as its new steam-assisted washer.
"Desirable features, reliable performance and stylish design are attracting record numbers of American consumers to premium LG home appliances," said John Herrington, president, LG Electronics USA, digital appliances. "Our growth in front-load laundry is a direct result of listening to our consumers, and it reflects consumers' excitement about our colorful array of premium products and innovative technologies such as steam."
Front-load washers are considered the fastest-growing category within home laundry, if not all white goods, and now represent more than 30 percent of all residential washers and dryers shipped in the United States year to date, according to the Association of Home Appliance Manufacturers (AHAM). Industry shipments have tripled in five years, and energy and water efficiency have improved by 35 percent since 2000 thanks to higher federal standards, AHAM said. LG attributes the configuration's growth to its greater convenience, capacity and energy savings.
LG Electronics, based here, is the North American subsidiary of LG Electronics, Inc., a $48.5 billion global manufacturer of consumer electronics, home appliances and mobile communications.
The Stevenson Company, based in Louisville, Ky., is a renowned market research firm serving the CE and majap industries. Formerly the global economic analysis and research department of GE Appliances, the company conducts quarterly TraQline surveys of 150,000 shoppers to measure retail purchases of consumer durables and derive unit and dollar market share data. Stevenson also partners with TWICE in developing the annual Top 100 CE and Majap Retailer Reports and Top 25 rankings for computer and car electronics dealers.
This TWICE webinar, hosted by senior editor Alan Wolf, will take a look at what may be the hottest CE products at retail that will be sold during the all-important fourth quarter. Top technologies, market strategies and industry trends will be discussed with industry analysts and executives.