The top three major appliance big-box chains battled it out during the Independence Day promotional period, and research firm Brand View has crowned a winner.
Sears took top honors in majap deals this year, with an industry-leading advertised discount of up to 50 percent. The Home Depot, meanwhile, provided consumers with a top discount of 35 percent via its “Red, White and Blue Savings” promotion.
While both of these big-box chains stepped up their savings vs. 2015 — Sears offered just 40 percent savings last year, and Home Depot 30 percent — Lowe’s once again stuck with its top 35 percent discount, the same as last year.
According to Brand View, Home Depot offered promotions on a significantly larger proportion of its range of appliances this holiday period vs. last year. Although 16.9 percent of promotions were included in “Red, White and Blue,” the largest proportion of promotions on the day were price reductions introduced on June 30 that weren’t part of the “Red, White and Blue” program.
Although it offered more promotions this year, Home Depot decreased the average percentage discount given to consumers. Lowe’s increased both the number of promotions and the average discount given, and Sears decreased the percentage of its range on promotion for all appliances with the exception of fridge freezers.
Sears also decreased the average percentage discount of promotions in the appliance categories, with the exception of washing machines and washer and dryers.
In each retailer, a select number of brands made up the majority of the total holiday promotions. Unsurprisingly, Sears leveraged its Kenmore brand to offer the greatest headline discount, with an average percentage discount of Kenmore products was 34.1 percent.
Home Depot had the greatest average discounts on GE, Whirlpool and LG appliances, while Lowe’s discounted Frigidaire, KitchenAid and Samsung products most heavily, said Brand View.
Noted the research firm: “Home Depot and Lowe’s have both recently posted promising financial results announcing increased sales for the first quarter of 2016. This success likely influenced the retailer’s ability to increase the number of promotions on appliances this Independence Day.
“In contrast, Sears announced a gloomy start the year. … Its recent poor financial performance may have contributed to its heavy promotion and advertising of its private label, Kenmore, with a 10 percent higher discount than the previous year.”