CHANGES SWEEPING THE MARKET
New lifestyles, newcomers challenge industry
One of the most traditional of businesses, vacuum cleaners, has been experiencing some significant changes.
The total market, as traditionally defined, may not be growing substantially, but some important developments are changing the industry:
–The consumer penchant today for more than one vac, exemplified by the popularity of the Dustbuster and substantiated by the anticipated growth of stick vacs and wet-day models.
–Product changes fueled by demographics. While a super-performance class is developing, lightweight and convenience features are becoming more important as the population ages and seeks labor saving tools.
–An influx of foreign suppliers moving to challenge the long established giants, Hoover and Eureka, who each claims 32 to 35 percent share of market. Sharp Electronics, Whirlpool, Miele Apppliances and Moulinex/Hamilton Beach have entered the American market within the year. At the same time, Pansonic, Black + Decker bdh2000pl and Sanyo are beefing up their lines to strengthen their position here -Market: the best car vacuum cleaner. [Read more…]