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Replacement sales comprised more than 50 percent of major appliance purchases in November, indicating pent-up consumer demand for white goods, The NPD Group reported.
Also supporting its contention was a 23 percent spike in dishwasher sales and an 8 percent increase in overall majap sales during the Black Friday promotional period, the market research firm said.
“These results are an indication that there are some signs of life evident in the U.S. appliance industry,” NPD noted.
The company also pointed to growing consumer confidence, particularly among 25- to 35-year-olds and households with youngsters and tweens, as indicated by the firm's Economic Perception Indicator in December. What's more, a 6.3-point rise in NPD's Retail Response Indicator suggests that more consumers expect to spend more in the coming months than last year at this time.
“The stabilizing housing market, improving picture on lending, slowing increases in unemployment, and general consumer outlook favors the U.S. appliance business,” NPD said. It added that manufacturers appear to be “holding back a little on new product introductions” to better leverage demand as it improves.
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.