Market Trends of North America Major Home Appliances Industry
Increase in the revenue of Major Home Appliances through Online sales channel over Offline
There has been an increase in the sales of Major Home Appliances through online sales channels in recent years. This is primarily due to the increased penetration rate and usage of the Internet in most of the regions including semi-urban and rural areas across North America. There has also been a rise in e-commerce platforms like Amazon, eBay, Walmart, etc. Also, the prices of the Major Home Appliances through these sites are considerably less than the actual prices. Another major factor for the increase in online sales is due to the current lifestyles of people in North America, where the majority fall under the working category. It reduces the time and there is no requirement for a physical visit to the store, as all different varieties are listed on the online site. The customer can choose the product from the comfort of their home. It is further fuelled by options such as EMI. All these factors are expected to increase the proportion of online sales in the coming years.
Rise in the Average Revenue Per Capita of Major Home Appliances
North America has been a developed country for a long time due to factors like high GDP, a larger proportion of the working population, and rapid urbanization. The improved lifestyles and high income have enabled people in North America to afford Major Home Appliances like refrigerators, televisions, Washing machines, etc. The usage and purchase of these Major Appliances have been high for the past 10 to 20 years. This has resulted in the rise of the Average Revenue Per Capita of Major Home Appliances in North America. The high migration rates in the United States and Canada have further substantiated the growth of the market. As a result, the demand and supply of the Major Appliances were always high. The Average Revenue Per Capita is further expected to grow due to all these factors.
