Useful tips & tricks in consumer appliances to grow revenue.
Tip number 1 – be aware of your surroundings
Information is power – the market around us sets the path for every business.
We must align and be aware of the signs so we know how to action every change and every sudden shift on this volatile scene;
So, before launching a new selling campaign take a look at the others, what are they selling and why? This helps you offer the correct products at the right time.
Tip number 2 – offer the correct products
We can all agree that the economy all over Europe is struggling, demand however exists for healthy and energy efficient products; your buyers need to offer their end users the categories that are at high demand, if they cannot find them in your offers they will search for other sellers.
Consumers want good prices for quality and branded goods that meet the "green" standards; there has never been a better time for refurbished products!
So, when you plan your strategies think about these details and if your offer contains products that meet the demand and meet the requirements of vigilant consumers, your business will benefit.
According to GfK Temax, In the first quarter of 2016, the Western European Technical Consumer Goods (TCG) market remained stable, with a mixture of ups and downs in the seven sectors, compared to Q1 2015. In all other sectors sales value declined, although very marginally. The overall TCG market in Western Europe in Q1 2016 generated €50.8 billion. (GFK Retail report June 2016)
GFK & Euromonitor data 2016
- There were sales value increases in the Major Domestic Appliances (MDA), Small Domestic Appliances (SDA) and Telecommunications (TC) sectors.
- Food preparation appliances is expected to post a volume CAGR of 2-5% over 2015-2020 for all regions.
- Growth opportunities are mainly driven by health awareness, new product development, increased female employment as well as the influence of cooking shows.
- Internet retailing will continue to be the fastest growth channel for food preparation appliances over the next five years, as consumers continue to enjoy the convenience of online shopping.
- Over 2015-2020, in terms of absolute volume growth, blenders and mixers will grow the strongest in North America, juice extractors and food processors in Asia Pacific and citrus pressers in Latin America. Cultural culinary preferences result in different food preparation appliance demand across the regions.
- Contaminated juice drinks and food scandals drove the growth of food preparation appliances in China as consumers looked to home meal preparation
- Food processor manufacturers launched thermal food processors, targeting Western European markets
- Hand mixers and countertop blenders are most popular in North America
- Obesity concerns boost growth of citrus pressers in Latin America
Tip number 3 – offer quality and continuity
Market research tells us over and over again that consumers are loyal; they don’t much want to change buying habits, products categories or brands and they expect the same quality every time to offer to their buyers.
Cycleon-Recare has been around for 17 years and we have always delivered the same quality and the same professionalism that became our trade mark. Group SEB and Kenwood & DeLonghi are the leaders on the market and are setting the trends in Consumer appliances worldwide.
Tip number 4 – why should I buy refurbished products?
Why shouldn’t you? Let’s look at some pointers:
- Refurbished products are as good as the original, tested, repaired, cleaned and packed according to strict standards;
- They are considerably cheaper which gives you and the end customer good margins;
- You get the largest and most demanded brands on offer;
- The largest online platforms sell them
- The economy supports the demand
- They support the “green” worldwide movement as e-waste is a constant issue
So, we hope these few tips assure you of the importance of being aware of the surroundings and also of the importance of offering what is demanded.
(Article written with help from Euromonitor International and GFK data for 2015 – 2019 on Western Europe and Global trends.)