NEW YORK — Retail sales of major appliances fell nearly 4 percent for the industry’s largest dealers last year, according to the TWICE Top 100 Major Appliance Retailers Report.
The annual survey of leading major appliance merchants, prepared with market research partner The Stevenson Company, showed white-goods sales slipping 3.7 percent to $22.7 billion for the ranking retailers, which represent more than 90 percent of total industry sell-through.
Despite the downturn, the results offered the first wisps of recovery from the now fouryear- long majap malaise, as the rate of decline eased from the 4.7 percent drop in prior-year revenue, and bettered the 6.5 percent falloff in total industry volume in 2009.
Buoying last year’s sales were pervasive Black Friday promotions, more solid economic footing after the financial freefall in autumn of ’08, and market expansion as weaker competitors closed shop.
The biggest share gains were realized within the home-improvement channel, which grew its piece of the Top 100 pie almost 4 percent to more than a third of total sales, thanks to a strong performance by No. 2 majap dealer Lowe’s.
Sears handily retained its crown as the king of appliance retailing with a 32 percent share of Top 100 sales volume, but continued to lose ground despite steep and relentless promotions.
Sales results in fact varied widely within the rankings, reflecting the state of local real estate markets and the ability of dealers to reinvent their businesses amid the new economic realities.