Online Major Home Appliance Sales Are On The Rise; Summer and Winter Holiday Promotions Are Driving Sales Growth, Reports NPD
February 16, 2017 -- !-- AddToAny BEGIN -->
Port Washington, New York (PRWEB) February 16, 2017
Online sales of major home appliances have grown, and growth is being driven by peak holiday promotional weeks between May and December, reports The NPD Group, a leading global information company. In 2016 consumers spent $4.0 billion on major home appliance online purchases, a 38 percent increase from 2015 sales, according to NPD's receipt mining service, Checkout TrackingSM.
In 2016 online sales of every major appliance category experienced year-over-year growth. Refrigerators, the largest category at 30 percent of industry sales, gained 40 percent compared to 2015 results. Ovens were the fastest growing category of the year with a 69 percent increase.
?Online shopping has become an important retail channel for all consumer purchases, including large purchases like major home appliances," said Joe Derochowski, executive director and home industry analyst at NPD. ?Shopping online for a major home appliance enables consumers to explore a wide range of feature and pricing options across a variety of retailers in less time and with just a few clicks."
Online major home appliance buyers spend about eight percent more during the weeks of Black Friday and Cyber Monday than they do during the rest of the year, and this spend is on the upswing. Sales during the 2016 Black Friday and Cyber Monday weeks were 37 percent higher than results during the same weeks in 2015. These two weeks combined accounted for nine percent of sales for the year. The next noticeable spikes in sales occurred over the summer holiday weeks of Memorial Day, Independence Day, and Labor Day. In contrast, President's Day week only showed a small bump in sales.
?It's important for manufacturers and retailers to coordinate their online and in-store marketing efforts, especially around key holiday promotional periods," says Derochowski. ?While consumers are seeking out the best deals on sizable purchases, like major home appliances, and shopping online offers an added level of convenience, many still want to go to a physical store to see and test the product marketers who maximize both of these channels will capture the consumer."
Source: The NPD Group, Inc. / Checkout TrackingSM Online
About The NPD Group, Inc.
The NPD Group provides market information and business solutions that drive better decision-making and better results. The world's leading brands rely on us to help them get the right products in the right places for the right people. Practice areas include apparel, appliances, automotive, beauty, consumer electronics, diamonds, e-commerce, entertainment, fashion accessories, food consumption, foodservice, footwear, home, mobile, office supplies, retail, sports, technology, toys, video games, and watches / jewelry. For more information, visit npd.com and npdgroupblog.com. Follow us on Twitter: @npdgroup
Checkout TrackingSM provides detailed information on consumer buying behavior, based on receipts for both online and brick-and-mortar retail purchases from the same consumers over time. Checkout Tracking delivers precise category, brand, and item-level purchase detail linked to buyers and their demographics, useful for analyzing competitive market baskets and identifying purchase patterns. Information is collected from more than 50,000 consumers from NPD's receipt-harvesting mobile phone app and the scanning of more than 4 million in-boxes for e-receipts through Slice Intelligence.
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