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    Household Appliance Stores Industry Profile

    Report Page Length: 10-12
    Last Quarterly Update: 10/26/2020
    SIC Codes: 5722
    NAICS Codes: 443141
    Chapters Include:
    Industry Overview Trends & Challenges Industry Forecast
    Quarterly Industry Update Call Prep Questions Website & Media Links
    Business Challenges Financial Information Glossary & Acronyms
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    Excerpt from Household Appliance Stores Industry Profile

    Companies in this industry sell household appliances, both major and small, from physical retail locations. No major companies dominate the industry.

    Global demand for household appliances depends on consumer spending in major markets such as the US and Western Europe. Sales for major home appliances worldwide is predicted to rise to 571 billion units by 2023, reflecting 3% annual growth, according to The Freedonia Group. China is expected to remain the leading producer and purchaser of major home appliances, while India and Indonesia are forecast post the fastest increases in demand.

    The US household appliance store industry includes about 7,500 establishments (single-location companies and units of multi-location companies) with combined annual revenue of about $16.7 billion.

    COMPETITIVE LANDSCAPE

    Demand is driven by home sales, home remodeling, replacement due to product failure, and technological innovation. The profitability of individual companies depends on effective marketing and merchandising. Large companies can negotiate volume discounts from manufacturers. Small companies can compete effectively by offering superior customer service or specializing in product segments. The US industry is fragmented: the 50 largest companies account for less than 50% of industry sales.

    Major competitors of freestanding household appliance stores include home improvement stores (Lowe's, Home Depot); consumer electronics stores (Best Buy); warehouse clubs (Costco, Sam's); and mass merchandisers (Walmart, Target), as well as online giant Amazon.com sells household appliances.

    Fierce retail competition and an abundance of low-priced imports, mainly ...

     
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