The month of April was a down one for most appliances, which was to be somewhat expected considering inflation’s rate in 2023 and the high sales numbers we have observed the last few years. As consumers in general have fewer dollars available, big-ticket items such as appliances are bound to see sales go down after the record-setting years we’ve witnessed in 2020, 2021 and 2022.
Interest rates are still quite high in comparison to pre-pandemic levels, mostly so in order to keep inflation from flaring up. It obviously has an impact on the way consumers elect to spend their money.
Stronger Demand Categories
- Certain appliances were still able to maintain a high number of units sold, like the 2 door bottom freezer refrigerators with icemaker, who are up a staggering 293% this year vs last;
- Electric cooktops are still the preferred type consumers purchase versus gas cooktops, as they account for more than 65% of cooktop sales;
- Units sold for top load washers are up versus the same period last year, with a 6.1% increase compared to 2022.
On the Decline
- Electric and gas ranges both struggle to meet last year’s incredible numbers and are down anywhere from 15% to 60% compared to the same period in 2022;
- Although the sales are down in comparison to last year, countertop microwaves still dominate the OTR and built-in options with 64% of all microwave sales YTD;
- Front load washers are down 26.9% vs last year’s month of April, a difference of 13691 units;
- Dishwashers also saw a decrease in sales, -9.4% for the current period and -5.2% YTD.
AHAM works with manufacturers to ensure that people in Canada and around the world have access to efficient, top-of-the-line home appliances. It provides its members with data on product trends, features, and value. This data gives them insights which serve as a powerful tool for strategic business planning.