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Cooking: premium products boost market value
2011 has been a fairly stable year for the cooking market, with total value sales now worth £620 million (Jan-Dec 2011). As a sector this represents a 22% share of the total MDA6 market*. Prices remain robust across most major appliance markets and for the cooking market the average cost of an appliance rose to £420. This increase has been driven by freestanding appliances, with average prices 4% higher in 2011 compared to 2010. This has been fuelled by the premium market for range cookers**, which has seen value share grow to 32%. This increase has boosted the total freestanding market to a 64% value share of the total cooking category.
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Rising prices grinding value growth out of power tools
A review of the Power Tools market in 2011 shows a marginal decline in volume sales of 1.1% in 2011 vs. 2010 and a value growth of 4.9%. As across many DIY categories, average pricing has been on the rise, contributing to the value growth despite the decline in demand; sanders, routers and stationary tools the most notable examples of this. Promotional activity around the middle of the year boosted the market in June, but since then some months have seen double digit declines in demand vs. the previous year.
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Especially strong results for specialist paint
After a period of decline, 2011 proved to be a very strong year for the specialist paint market, with 3.5% more sales by volume and an 11.5% increase in value terms. Major shifts within the brand mix offered at main DIY retailers fuelled competition within the market, helping to drive innovation across the market. Consumers have responded positively to these changes, with growing interest in part of the paint market which had become less fashionable in recent years. Taking into account the overall difficulties in the decorative sector, the strong growth in volume as well as value is particularly striking.
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Food preparation: a Christmas winner again…just!
Small kitchen appliances generally get a boost in the run-up to the Christmas gifting period and 2011 has been no different. Despite strains on the household purse softening the acceleration, consumers still went shopping for coffee makers and kitchen gadgets and not just at the budget end of the scale. Food preparation products also benefit as home cooks’ thoughts turn to TV chef inspired festive dinners. Premium priced kitchen machines, stand mixers and food processors all traditionally perform well in value and kitchen machines in particular grew its share of the market by three percentage points over the six months to Christmas taking a quarter of sales and rising to over 30% in value during November. This establishes the annually growing trend of consumers bringing forward their purchases of gifts and must have equipment ahead of December.
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Premium products helping the microwaves market
The Microwaves market is currently worth £213 million for the twelve month period to October and has achieved growth of 2% compared to the same period last year. Unfortunately this increase has not been matched in volume terms with the market declining by 5%. The recovery of the high value sector of combination microwaves is responsible for overall market growth. The combi sector accounts for just under a quarter of market in value terms and has increased by 5%.
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