Market insight: Appliances in demand

STAT: Demand for beverage-centric major appliances have grown significantly during the pandemic, and continue to accelerate. Combined dollar sales of ice makers, wine coolers, and other beverage centers grew 52% in January and February 2021, and increased another 60% in the first two months of 2022. 

Source: The NPD Group / Enhanced Retail Tracking Service, January-February 2022

ANALYSIS.: The increase in the number of meals eaten at home as a result of the pandemic has led to more food and leftovers in our refrigerators,” said Joe Derochowski. “More time spent at home working, and now doing more entertaining has created a greater need for beverage space. The combination of these factors has created an opportunity for beverage-centric appliances.