That a song older than most of LG’s target audience might serve as a cultural connection point is a twist few saw coming, but it also encapsulates the out-of-the-box strategies home appliance brands are deploying in marketing to this group. Many like Whirlpool and LG are tapping home influencers to engage with customers in splashy how-to videos around cooking and cleaning.
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Whirlpool recently took its advertising in-house with the creation of its own internal studio World of Whirlpool (WoW) Studios, in order to gain more flexibility and control. Some like Electrolux are spinning new marketing initiatives around values and brand purpose, a key area of interest that is influencing purchase decisions for Gen Z, experts say. And all are innovating on products, merging smart appliances with marketing content that will appeal to young tech-savvy consumers eager to steer clear of their “grandmother’s” machines.
“We continue to make customer-led decisions with regard to our assortment and have seen the number of connected and smart appliances increase as customers, especially from younger generations, look for innovative products that make their home function more efficiently,” said Dean Schwartz, VP of merchandising, appliances at retailer Lowe’s.
There are several major players trying to grow their share of the $23.4 billion U.S. home appliance market. For example, Whirlpool commands 22.2% of the market and Electrolux 18.5%, according to data from market research firm IBISWorld. Chinese company Haier has a 14.5% share. IBIS estimates that revenue will rise 0.8% annually for the category through 2026. In a recent report, it found that “consumers are drawn to products that have recognizable names because major appliances are relatively expensive goods." It added: "Reputation is fundamental to maintaining a strong retail presence by conveying that a company's products are of the utmost quality.”