Market Research Report
Switzerland Home Appliances Market - Growth, Trends and Forecast (2020 - 2025)
|Published by||Mordor Intelligence LLP||Product code||544414|
|Published||Content info||120 Pages
Delivery time: 2-3 business days
|Switzerland Home Appliances Market - Growth, Trends and Forecast (2020 - 2025)|
|Published: February 1, 2020||Content info: 120 Pages||
The Switzerland home appliances market is holding a great potential to grow by addressing the consumer's dynamic needs. People started choosing multi-utility and energy conserving products than the regular ones owing to the benefits those products holds. The improving innovation, customization of products, are the driving factors that are boosting the replacement sales in the region. The high disposable income levels of individuals is another the major factor which is benefiting the manufactures to sell their products in a larger number even in a saturated market. Switzerland is one of the few countries which holds high employment rate and stands with 76.90%. The continuous growth in individual's disposable income levels is enabling them to spend more on the desired products. The investments in R&D, production innovation is increasing to grab the dynamic behavior of consumers. Manufacturers are investing heavily in disruptive innovation, innovating on the size of products, and further into value-added services of the products. The major innovation that is being added to most of the home appliance products is connectivity, in line with the increasing interest in internet of things (IoT) concept.
Small Kitchen Appliances are Going to Grab the Major Share of the Market
Sale of large home appliances like refrigerators and washing machines are forwarding in a constant manner whereas the sale of small home appliances is increasing rapidly. Most of the consumers are giving great importance to freshly made products which are leading to an exponential increase in the small kitchen appliances sale. The sales volume of the small home appliances like cookers and ovens are showing a 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 the factors like their less presence rate in the market, the improving innovation, and automation they hold, affordable prices, the perfection they bring in the job. These products are easing people's life by taking off a huge load off the working population and are comforting consumers by minimize the time they spend on their respective tasks.
Internet Retailing is Showing an Exceptional Growth thus Driving the Market
Digital technology has greatly altered consumer behavior in the retail sector in the last few years. Social media is also grabbing greater attention with the capacity it holds to influence consumer decision making. The discussion groups, reviews shared by the consumers are helping the new buyers to make an 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. A recent study reveals that the no. of sales on different online platforms has increased to 43%, which accounted for 37% in 2017.
The report covers major international players operating in Switzerland's home appliances market. Majority players are trying to grab the customer interest with innovations that simplify their lifestyle. To capture the increasing consumer's interest to connect home appliances digitally, in December 2019, Electrolux launched a connected blender that uses technology derived from different collaborations to simplify and personalize the consumer experience.