New Market Research Report: Large Cooking Appliances in France
New Consumer Goods research report from Euromonitor International is now available from Fast Market Research
[UKPRwire, Tue Feb 17 2015] The decline in the housing market was the most significant hindrance to sales of large cooking appliances in 2014. New norms and restrictions set by the Duflot/Alur law – in effect since January 2013 – slowed down investment in housing construction. On the other hand, sales of new housing to investors fell sharply, as tighter regulations concerning rentals became applicable. Given the high level of unemployment and falling purchasing power, direct promoter-to-individual housing sales did not progress enough to offset the sharp decline in sales to private investors. Consequently, demand for built-in appliances (which largely sustained volume sales over the period 2010-2012) went into a decline over 2013-2014, thereby causing a slide of 1% in retail volume sales in 2014.
Over the period 2013-2014, Brandt France (previously FagorBrandt France) lost ground in the French marketplace, mainly due to its low treasury levels. A takeover by Algerian-based Groupe Cevital helped to revive the company’s operations in France. In 2014, the combined volume sales of the company’s five key brands (Fagor, Brandt, Vedette, Sauter and De Dietrich) in large cooking appliances maintained it as the leader with a 21% share of volume sales. Its closest challenger, BSH France, partly benefited from the recent difficulties of the leading company, and progressed to a 15% volume share. On a stand-alone basis, however, Whirlpool and Siemens were the two best-selling brands in large cooking appliances in 2014.
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In an attempt to reassure investors and boost the housing market, the French government is expected to review some of the latest Alur/Duflot rules on new housing and rental norms. These revised measures/adjustments are likely to come into effect from 2015 and help to revive construction and renovation activities. To recover internal consumption, further measures aimed at relaxing the tax burden and boosting purchasing power are also on the government’s agenda. As sales of large cooking appliances are closely correlated with the housing market and the purchasing power of households, the aforementioned policies could potentially lead the category back to positive volume growth from 2016.
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