Netherlands consumer appliances market reported consumers delaying purchasing decisions in 2013
Consumer Appliances in the Netherlands - a new market research report on companiesandmarkets.com
PR-Inside.com: 2014-05-01 03:18:01
Despite growing sounds claiming economic improvement and increased consumer spending, 2013 was another year of further recession in the Netherlands. The Dutch housing market, which is an important indicator for possible growth in major appliances, continued to spread financial fear to those who were already in doubt about whether to spend their savings on such risky investments or not. 2013 witnessed another year of postponed purchases. Dutch consumers preferred to spend on smaller appliances, which are less risky yet still fulfilled the need for innovation within houses. As such, major appliances recorded volume sales decline, while small appliances continued to notch up volume growth, with an overall result of stagnating volume sales in 2013.
During the persistent economic downfall, consumers were more discerning about their purchasing decisions for major appliances. There was already a clear trend to opt for energy-efficient alternatives from 2012 to 2013, as major appliances accounted for a significant proportion of any household´s electricity expenses. The most visible trend regarding small appliances was the interest in product design, as consumers increasingly perceived this to be an important feature to improve the home dÃ©cor, as well beyond just serving the basic function.
Dutch consumer appliances continued to be dominated by well established, trusted brands. Clear leaders in terms of global brand owner remained the two specialist manufacturers of small appliances, Koninklijke Philips Electronics NV and Groupe SEB Nederland BV, and the specialist manufacturer of major appliances, BSH Bosch & Siemens HausgerÃ¤te GmbH. Whereas these players were outperformed by cheaper competitors and private label during the review period, 2013 seemed to be the turning point as consumers opted for trustworthy, premium brands of which they believe the appliances to function better and be more reliable and thus will last longer.
With a tough economic climate persisting in 2013 in the Netherlands, more people decide to cook premium meals at home rather than spending a lot of money on dining out. Food preparation appliances which are useful to cook from scratch such as food processors, grinders and choppers, blenders, electric grills and mixers, experienced good performances, mainly because of this development. Cooking as a leisure activity is promoted on numerous television shows and Dutch consumers increasingly prepare home cooked meals to entertain family members and friends.
Following negative volume growth for most of the review period and stagnating volume sales in 2013, there is hope for marginal recovery of volume demand for consumer appliances over the forecast period. While the economic situation is unlikely to recover rapidly, 2014 onwards are predicted to be less challenging years for Dutch consumers, and following years of struggling demand, consumers are likely to return to purchasing major appliances from 2015 onwards. Meanwhile, small appliances is set to maintain positive growth to spell a better outlook for consumer appliances overall.
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