Market Trends of United Kingdom Washing Machine Industry
Washing Machine Market is Being Driven by Increasing Urbanization
The demand for washing machines is mostly in urban areas, which account for a major percentage of sales. Residents in urban areas consume in quite different ways than those in rural areas. In the country, the use of washing machines is rapidly increasing. Growing family incomes, improved technologies, an increase in the number of nuclear families, rising personnel expenses, a rising tendency of working women, and the availability of consumer credit in urban areas are all factors contributing to this growth. Due to rapid urbanization and lifestyle changes, consumers are expected to be drawn to smart washing machines. The expanding urban population in the country, which high-income individuals characterize, is likely to fuel washing machine demand over the projection period.
In the United Kingdom, washers and dryers are generally made to conform to one primary problem: lack of space. The houses and apartments in Europe are often both older and closer together than those built in the United States (other countries such as Japan also face similar problems). This lack of space leads to smaller living quarters and less space for large appliances such as washers and dryers. For this reason, European washers and dryers tend to be smaller than American versions, often coming as two parts of one appliance, and can only handle smaller loads. They are also designed to focus more on energy efficiency and smooth operation.
Rise in Consumer Spending on Household Appliances is Driving the Market in the United Kingdom
Last year, consumer spending was about GBP 14.5 billion (USD 17.96 billion), which increased from GBP 13.17 billion (USD 16.31 billion) the previous year. Most millennials never want to spend their valuable time doing daily chores such as washing clothes. It is due to increased disposable income and an individual's busy lifestyle. These factors are driving the market growth. With changing lifestyle patterns and the increasingly busy schedule of the working population, consumer preferences turned to on-demand laundry and dry-cleaning services. These services offer pick-up and delivery options at the front door to enhance consumer convenience.