#141 - Small Appliances Reflect Our Need for Speed

Despite a forecasted sales decline of 4% - 5% through 2024, sales of small appliances remain elevated from pre-pandemic levels. To buck the negative trend, marketers should focus equally on messaging and innovation. Joe Derochowski, Circana’s vice president and industry advisor, Home and Home Improvement, shares his secret sauce for picking holiday winners and identifying opportunities for growth throughout the year.   Highlights:   The replacement cycle for many small appliances may shrink from the traditional five to eight years given high usage throughout the pandemic. The top 10 items sold January through August are a great indicator of what will sell well during the winter gifting season. Holiday sales are anticipated to be down 4%, but there are ways to beat that by leaning into consumer behavior, especially the value we place on time. The Consumer Electronics Show, coming in January, is a great way to see the advancement of “smart,” including floor care, home comfort and personal care appliances.