Market Trends of Switzerland Home Appliances Industry
Small Home Appliances Dominated the Market
The sale of large home appliances, like refrigerators and washing machines, is increasing constantly, whereas the sale of small home appliances is increasing rapidly. Most consumers give great importance to freshly made products, which is leading to an exponential increase in the sale of small kitchen appliances. The sales volume of small home appliances, like cookers and ovens, is showing a more rapid growth than the rest, owing to the customer's preference to eat healthy and hygienic home-cooked meals. The market for these smart and small home appliances is expected to increase, owing to factors like their low presence rate in the market, the improving innovation and automation they hold, affordable prices, and the perfection they bring to the job. These products are easing people's lives by taking a huge load off the working population and comforting consumers by minimizing the time they spend on their respective tasks.
In the year 2022, revenue changes for major and small appliances observed a negative growth of -1.1% and -17.6% as the economy opened and are expected to stabilize in the year 2023 with a growth of 2.5% and 3.2%, respectively.
Increasing Online Sales Driving Home Appliance Market
In the last few years, digital technology has changed how people shop in stores a lot. Social media is also getting more attention because it can have an effect on what people decide to buy.The discussion groups and reviews shared by the consumers are helping the new buyers decide on and choose the product of their choice. The boundaries between offline and online sales are becoming less distinct with the increasing utilization of digital devices. Product sales are largely shifting to the internet and are generating high growth rates of e-penetration.
The online revenue share of home appliances in Switzerland has observed continuous growth over the years. In the year 2019, the share was 35.5% and increased to a level of 47.1% in 2022. This increase shows a rising share of the home appliance market through e-commerce channels.
