E-Commerce Household Appliances Market Is Projected To Reach USD 148.6 Billion By 2028Posted by rahul nikade on January 20th, 2023 E-Commerce Household Appliances Industry Overview The global e-commerce household appliances market size was valued at USD 107.4 billion in 2021 and is expected to register a compound annual growth rate (CAGR) of 4.8% from 2022 to 2028. This can be attributed to the growing demand for household appliances on e-commerce platforms from developing nations. Also, growing consumer inclination for smart equipment in an effort to simplify daily tasks is the prime factor responsible for market growth. Additionally, factors such as the increasing popularity of modular kitchen spaces coupled with rising purchasing power of customers are driving the market. Furthermore, an upsurge in the number of nuclear families is also anticipated to drive the demand for small electric home appliances in the coming years. The strong competition in the market has strapped manufacturers to introduce enhancements in their offerings to keep customers interested and boost them to replace their outdated household appliances with modern appliances. Besides, the COVID-19 pandemic resulted in an interruption of the overall growth of the market for e-commerce household appliances. Momentary production halts in the manufacturing factories and the stoppage of the logistics sector caused a decline in product sales through the initial months of the pandemic. Gather more insights about the market drivers, restrains and growth of the Global E-Commerce Household Appliances Market However, the e-commerce websites and the resumption of shipping operations endorsed steady growth in sales of these household appliances. With the majority of users using these household appliances at a relatively higher rate owing to the stretched work-from-home policies, the demand for these products is anticipated to increase at an encouraging pace in the near future. The trend is estimated to help manufacturers recuperate from the losses incurred throughout the initial months of 2020. Product innovation has been playing a productive role in driving the market for e-commerce household appliances over the last few years. Present-day household appliances combine factors such as temperature moderation, energy efficiency, and design aesthetics. Thus all these factors are expected to drive the demand for these products in the coming years. In addition, increasing investments by market players in the latest technologies and focus on easy-to-shop experience on their platforms are further anticipated to drive the industry sales. Likewise, promotional strategy and advertisement by the main players’ are expected to aid in the growth of the market for e-commerce household appliances. China's e-commerce platforms are targeting major appliances as one of their next big growth drivers. In 2020, online sales of home appliances surpassed brick-and-mortar retail stores for the first time. E-commerce platforms work closely with home appliance companies to make online purchases frictionless. Online portals are currently focused on selling major appliances with free shipping, unconditional returns, and flexible consumer credit. Companies such as Alibaba, JD.com, Pinduoduo, etc., are partnering with retail chains to expand product offerings. For instance, in 2020, Pinduoduo acquired a 5.6% stake in GOME Retail, giving it access to a wider range of brands while being able to offer products at the same or cheaper prices as compared to GOME stores. Major appliance companies are also adopting new forms of marketing, such as using live streaming to sell their products. However, a foremost disadvantage of e-commerce is the lack of privacy. Some e-commerce websites do not have cutting-edge encrypted technology that can protect the personal details of shoppers from hackers and it is an origin of grave concern. If this sensitive information is leaked, it can lead to numerous problems for a shopper. And this is an important factor challenging the growth of the market for e-commerce household appliances during the forecast period. Browse through Grand View Research's Electronic & Electrical Industry Research Reports.
E-Commerce Household Appliances Market Segmentation Grand View Research has segmented the global e-commerce household appliances market on the basis of type and region: E-Commerce Household Appliances Type Outlook (Revenue, USD Million, 2017 - 2028)
E-Commerce Household Appliances Regional Outlook (Revenue, USD Million, 2017 - 2028)
Key Companies profiled: Some prominent players in the global E-commerce household appliances market include
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