Domestic Appliance Retailing in New Zealand - Market Size, Industry Analysis, Trends and Forecasts (2024-2029)

Unplugged: Economic uncertainty is discouraging consumers from investing in new appliances

Lockdowns associated with the COVID-19 pandemic have driven spending on home appliances, which has translated to revenue leaps for domestic appliance retailers. Growth in real household discretionary income and the number of households, due to steady population growth, has further benefited the industry. Meanwhile, consumer sentiment has plummeted, encouraging consumers to forgo new appliance purchases or bargain-hunt online. Low-cost online-only sellers, and other rivals with robust discounting approaches like department stores, are enjoying growing demand, adding to retailers' woes. Rising inflation and resulting hikes in interest rates have propelled some consumers into saving mode, inducing a 6.7% dive in revenue in 2022-23.

Appliance retailers sell a range of household electrical, electronic and gas appliances. These products include air conditioners, barbecues, cameras, DVD players, heaters, mobile phones, refrigerators, stoves, televisions, vacuum cleaners and washing machines. Retailers purchase products from manufacturers and wholesalers for resale to consumers at retail stores. The industry includes online sales by bricks-and-mortar retailers, but excludes department stores and online-only retailers.

This report covers the scope, size, disposition and growth of the industry including the key sensitivities and success factors. Also included are five year industry forecasts, growth rates and an analysis of the industry key players and their market shares.