Möchten Sie zur deutschen Seite wechseln?JaNeina
Close
Smart Automotive Insights image

Smart Insights: Home Appliances

The home appliances market faces a three-tiered challenge: 

  • Changes in retailing from traditional formats to Omni-channel, due to the increasing importance of the Internet as an information and sales channel 
  • High innovation rates with multiple questions around trends such as ‘smart home’ and ‘smart appliances’
  • Major and Small Domestic Appliance brand performance in a progressively competitive market

To stay ahead of the competition, Small (SDA) and Major (MDA) Domestic Appliance manufacturers and retailers need to understand which market trends remain constant or are changing, and the influences impacting consumer purchases.

Our home appliance industry experts bring together Point of Sales (POS) tracking and other innovative research with the ability to combine multiple and complex data sets on a global scale. Using these insights we explain what is happening at every touch point where shoppers experience your brand, products or services.

By turning our deep market research expertise into relevant MDA and SDA insights, GfK helps you identify smart ways to maximize your competitive performance in the home appliances market.

Latest insights

Here you can find the latest insights for home appliances industry. View all insights

    • 09/06/18
    • Automotive
    • Global
    • English

    Driving Gen Z

    Turn back the clock a handful of years and you’ll find automotive strategists bearish that Millennials’ lack of interest in vehicle ownership will usher in the slow, but inevitable, decline of the car industry. Yet, today, 29% of new vehicles are already being bought by Millennials. In just a few years, despite accounting for only a quarter of the population, our largest generation at 80 million will account for 40% of new car sales. And they’ll just be entering their prime earning years at that point. Naturally, Millennials will be the sales focal point for quite some time. However, manufacturers are already looking towards the next generation of American drivers. Known as Post-Millennial or Gen Z, they’re roughly 8 to 20 years old today and expected to be 75+ million strong. With the vast majority still in school or living at home, innovation for tomorrow begins with insights unearthed today. GfK Consumer Life has been tracking the emergence of this young generation for some time, and we’ve identified several themes that will yield challenges, but also opportunities, for manufacturers.

    Ambitious, yet pragmatic

    As previously outlined, the post-Millennial generation is as focused on accomplishment, if not more, than on self-discovery. Financial independence is their primary goal today. In fact, 80% want to stay away from debt completely, according to research from GfK Consumer Life. And as they watched Millennials before them struggle with mounting college debt, 54% have already taken jobs to earn money for college, while 85% plan to work during their college years. Arguably the strongest advantage today’s teens have compared to Millennials is a robust economy. In retrospect, the timing of the Great Recession (along with historically high gas prices in 2008) as Millennials transitioned to adulthood had the most profound impact on their attitudes towards vehicle ownership. With unemployment reaching an 18-year low earlier this year, upcoming graduates may find a more lucrative job market, and access to transportation more affordable. In fact, after a short dip during the recession, Americans are now driving more miles with more vehicles than ever before. While it’s impossible to predict the next recession, manufacturers and retailers should expect the next generation to transition more seamlessly (and perhaps earlier) into adulthood. They may be shopping your brand sooner, rather than later – if, of course, the product is right.

    Seamless mobility

    You won’t just be selling cars to this generation, you’ll provide them access to fully integrated mobile platforms that eliminate the gap between in- and out-of-car experiences. Today, it’s connected car features – from smartphone integration to streaming services to mobile wifi. Yet, smart devices are second nature to them (1 in 3 are already using mobile voice command), and GfK Consumer Life has found that they’re already 50% more likely than the average American to be controlling smart home or smart car devices and features from their phone. Manufacturers will need to work hard and fast to integrate vehicles into their internet of Things. Whether it’s warming up the oven or conducting mobile video conferences on the drive home from work, or ordering food or vacation planning while in transit (as GM recently introduced with its mobile Marketplace), this generation will demand the absolute elimination of transit “dead time.”

    Multi-mobile

    Of course, ‘buying’ may not be their prerogative. The fiscal savvy of this age group will place greater emphasis on building a flexible transportation portfolio, which may include any number of public, shared, or owned vehicles and services. According to GfK Consumer Life’s most recent 2018 data, teens are just as likely to use public transportation as Millennials (20%), yet less than half as likely (15% vs. 27%) to have used car sharing services. However, on the latter, they are already well ahead of Gen X (11%) and the Boomers (4%) before them. Not surprising, manufacturers are moving aggressively on this front. Subscription models from luxury brands are being tested regionally. Yet, with significant pricing premiums attached to such programs, viability beyond the most affluent is still in question. Gen Z may provide the scale to take these programs mainstream. In fact, they’re already catching up to Millennials on interest in vehicle subscription services (39% vs. 41%), and ahead on shared ownership (32% vs. 28%), despite being novice drivers.

    Security first

    Growing up in the aftermath of 9/11, countless school shootings (active shooter drills are now commonplace in our K-12 schools), and too-many-to-count data privacy breaches, manufacturers can expect this generation to take a more cautionary, yet demanding approach to personal safety and security. According to GfK MRI’s American Teen Study, they are more likely to rate safety in an accident higher relative to fun to drive, compared to Millennials as teens in 2011. Today, 42% view proactive safety systems as important, while 46% are also seeking features that protect from environmental hazards. In fact, according to GfK’s Automotive Innovation and Technology Study, Gen Z are almost three times as likely as average respondents to be seeking wellness solutions that go beyond active and passive safety systems. Beyond physical safety, auto manufacturers might find it more challenging to access and leverage Gen Z’s digital footprint compared to Millennials before them. These teens are sharing less personal information online, with only 31% keeping social pages updated (vs. 45% in 2009). Only 44% are willing to share personal data, even in exchange for benefits and rewards (compared to 62% of Millennials). According to GfK MRI, they are also more than twice as likely as Millennials to embrace the privacy of Snapchat (75% vs 37%), reinforcing their need for secure channels. As the first post-digital generation, they have also identified the limitations of social media and are re-investing in personal interactions. In fact, 3 of 4 are choosing smaller groups of friends over large groups of acquaintances, while a study from IBM suggests that Gen Z is placing as much importance on offline socializing as online. This social recalibration will be an invitation for brands to develop trusted one-to-one relationships with their next generation of clients. Leveraging the convenience of mobile technology, manufacturers such as Lincoln are adding concierge services for a decidedly personal touch to the entire life of the ownership experience. While these are generally reserved for premium brands and consumers today, such offline approaches may well suit the next young buyers seeking a brand connection – one that’s equally digital and analog.

    The road ahead

    While Millennials are center stage for now, the next consumer wave is right around the corner. As it stands, the future looks bright for Gen Z, and especially for those manufacturers who have begun to shine a light on them.
    • 07/10/18
    • Fashion and Lifestyle
    • Media and Entertainment
    • Retail
    • Technology
    • Automotive
    • Consumer Goods
    • Geomarketing
    • Geodata
    • Global
    • English

    Belgians’ purchasing power for food three times that of Poles

    GfK calculated the product-line purchasing power for 17 product groups in various European countries.
    • 09/28/17
    • Financial Services
    • Automotive
    • Market Opportunities and Innovation
    • Trends and Forecasting
    • Global
    • English

    What impact is renewal transparency having on the British motor insurance market?

    Premium Drivers

    If you have renewed your motor insurance recently you may have noticed that the price your insurer has asked you to pay has probably increased. A combination of higher Insurance Premium Tax (rates have doubled over the past two years), bigger injury pay-outs and rising vehicle repair costs mean that motor insurance prices are now at an all-time high. Even for those of us savvy enough to shop around and switch provider, prices have also typically risen, despite the fact that the market remains as competitive as ever. However, it still generally pays to switch, as the vast majority of motor insurance providers are still willing to chase new business and therefore many still offer introductory discounts. Given this, it is somewhat concerning that, according to GfK’s Financial Research Survey (FRS), that the number of drivers who do switch has remained basically unchanged compared to four years ago. The number has held steady at around a quarter of drivers. So it would seem that many drivers don’t know, don’t consider, or just can’t be bothered, to change provider, despite the rising prices.

    Motor insurance renewal transparency: early signs of increased shopping around

    But there are tentative signs that this might be changing. Since April 2017, insurance providers have had to disclose prior year premiums on renewal notices. These new rules mandated by the FCA allow customers to compare more easily what they paid last year versus what they may pay this year, if they remain with the same provider. Early signs suggest renewal transparency has helped encourage greater levels of shopping around but this hasn’t so far translated into actual switching. According to the FRS, the proportion of drivers who “actively renew” their motor insurance (renew but take out at least one quote) has grown and now stands at 29%, the highest-ever level. In addition, a high proportion of those who have switched in the last 12 months also state that they are likely to switch again. On the other hand, large numbers are still auto-renewing on their motor insurance, particularly across older age groups where auto renewal rates remain stubbornly high at over 45%. For these customers, renewal transparency rules mean that providers must now also include additional disclosures on renewal notices explicitly encouraging people to shop around. Overall, I think renewal transparency has definitely been a useful step forward in making the motor insurance market more consumer friendly, and it will be interesting to see if it helps encourage greater levels of switching in the months ahead. If you would like more data, please contact me.

    The Financial Research Survey (FRS) is one of the largest and longest running surveys tracking personal financial holdings and behaviours and is considered the industry benchmark within the British financial industry

    • 09/06/17
    • Fashion and Lifestyle
    • Home Appliances
    • Financial Services
    • Media and Entertainment
    • Retail
    • Technology
    • Travel and Hospitality
    • Automotive
    • Consumer Goods
    • FMCG
    • Home and Living
    • Market Opportunities and Innovation
    • Consumer Life
    • Global
    • English

    The mood of the world today – what are people thinking?

    In this free on-demand webinar, our experts dive into current consumer confidence and other key indicators of the consumer mindset and what it means for individual markets and brands.
Solutions
  • Brand and Customer Experience (BaCE)

    Brand and Customer Experience (BaCE)

    Brands are under pressure to develop emotional connections and relationships with consumers and business decision makers.  Brands need to respond in-the-moment, to enrich the customer experience – and develop strategies that influence ”moments of truth” throughout individual brand journeys.

  • Consumer Panels

    Consumer Panels

    Your business is all about your consumers. So understanding them is essential in ensuring your products and services meet their needs, and in identifying opportunities for growth.

    Our international consumer panel data and research expertise provide you with smart customer insights into who your consumers are, their attitudes and behaviors, across channels.

  • Point of Sales Tracking

    Point of Sales Tracking

    Retailers and manufacturers are under pressure to develop products and services that maximize sales and profit and to keep customers coming back.

    Success relies on having the most up-to-date sales data, combined with robust analysis to understand which products and services are performing well in the market – and which are not. With this information, clients can set clear strategies for commercial growth and increase return on investment.

  • Market Opportunities and Innovation (MOI)

    Market Opportunities and Innovation (MOI)

    Brands are under constant pressure to maintain relevance in an increasingly crowded market. Identifying when, where and how to deliver compelling experiences that deliver new value for both consumers and brands is critical.

  • Shopper

    Shopper

    Digital continues to open up new paths to purchase, changing how and where people shop. More and more data becomes available every day, as shoppers embrace multi-channel brand experiences. To stay competitive in this big data, multi-channel environment, businesses need to identify and leverage the most relevant data along the entire path to purchase. 

  • User Experience (UX)

    User Experience (UX)

    Our user experience (UX) research and design experts help our clients create and improve customer experiences for existing or new products and services.

    Today’s consumer is bombarded with promises for compelling experiences. They are sophisticated and demanding. To be successful, a new product or service needs to be intuitive, usable, engaging and desirable. The user experience needs to be emotional in order to be memorable.

Your GfK Contact
General