CHICAGO–A number of dynamics will radically transform the global market for household appliances by 2011, according to a newly released industry study from Euromonitor.
The increasing population of working women, the cocooning trend and the growing number of single-people households will alter the market’s landscape over the next three years. According to Euromonitor’s data, the global number of working females rose 6 percent from 2001 to 2006, and will rise by another 4 percent by 2011. Working women have boosted demand for convenient, time-saving devices—such as microwaves, dish washers and washer-dryers—that help them take care of their homes.
Euromonitor also said cocooning will lead to consumers increasing their spending on their homes, since it also means that they aren’t going out for entertainment as much. Singles also push demand for appliances, given the fact that such households require their own cooking utensils, washing machines and refrigerators.