GFK INSIGHTS
Bruce Denton Consumer confidence is still struggling, meaning GfK continues to see energy saving appliances high on consumers’ wish lists. Bruce Denton, client solutions consultant at GfK, provides a picture of the SDA market over the last year.
2024: A landmark year
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Below right: The total SDA market (excluding hot air fryers) was up 1% in 2023.
Right: The energy saving trend is helping to grow sales of kettles.
Below: Coffee makers such as the Gastroback Design Espresso Piccolo Pro M, grew in sales last year.
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PROGRESSIVE ELECTRICAL
t is 50 years since ABBA found fame after winning the Eurovision song contest in Brighton and became a global pop sensation and the first pop group in the phone book. It is a little-known fact that the interval act for that night was the Wombles, setting the half time standard we now expect from events like the Super Bowl. 1974 was also when GfK issued its first Consumer Confidence Barometer report. Now in its 50th year, there is no other consumer research project that can match its longevity, rigour and reliability. This report has provided key insights into the UK consumer’s current thinking during key political and social events. Like ABBA, it has stood the test of time and like the Wombles, it is so much more than just an interval act and is still cleaning up today.
People’s confidence took a big hit in 2022 following Russia’s invasion of Ukraine and UK consumers had to deal with rising energy costs, rising inflation and hikes in interest rates. As we venture further into 2024, these same concerns continue to make consumers uneasy and the overall index score hovers around -21. This means making decisions about spending money on small domestic appliances is challenging. If you would like to know more about this report and listen to a 15-minute podcast celebrating its 50th birthday just search ‘Consumer Confidence Barometer’ on our website, gfk.com.
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Air fryers are saving us money money money (and calories) and have earned their place in the hearts, and on the worktops, of millions of consumers.
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