June 9th, 2023, Kineree Shah
While rising costs of living have led half of global consumers to delay big-ticket purchases, nearly one in five still plan to buy luxury household appliances such as high-end TVs or smart home systems within the next 12 months (19%). This places household appliances as one of the most desired luxury categories among our listed options, following clothing (31%) and meat, fruit, or vegetable items (30%) according to new YouGov Surveys (Serviced) insights.
Focusing on income levels, a quarter of higher-income consumers plan to purchase luxury household appliances. Among middle (20%) and lower income (18%) consumers, approximately one in five are considering buying high-end household appliances. This suggests that the desire for upscale domestic items is not confined solely to the highest earners.
Consumer behaviour exhibits varying differences when we divide the data by markets. In Asia, nearly two in five consumers in India (38%) and just over one-third in Indonesia (36%) say they plan to purchase luxury household appliances in the forthcoming year. Consumers from UAE (28%) are more likely than China (24%), Hong Kong (23%), and Singapore (20%) to buy luxury household appliances in the next 12 months.
Europe presents a more moderate interest in luxury household appliances. Nearly one in five consumers in Poland (18%) are planning to make a luxury appliance purchase. In Italy and Spain about one in six consumers (16% each) share similar intentions. However, consumer interest wanes as we move to Northern Europe. Roughly one in seven consumers in Denmark (14%), Sweden (13%), and Great Britain (13%) are planning to buy high-end household items in the upcoming year, with France and Germany showing the least inclination with over one in ten consumers (10% and 11% respectively).
North America shows diverse consumer preferences. While Mexico exhibits a relatively strong appetite with almost a third of consumers (29%) intending to buy luxury household appliances, Canada and the US show a more subdued interest. Approximately one in seven consumers in Canada (15%) and about one in ten in the US (11%) intend to make such purchases.
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Methodology: YouGov Surveys: Serviced provide quick survey results from nationally representative or targeted audiences in multiple markets. The data is based on surveys of adults aged 18+ years in 18 markets with sample sizes varying between 512 and 2034 r each market. All surveys were conducted online in February 2023. Data from each market uses a nationally representative sample apart from Mexico and India, which use urban representative samples, and Indonesia and Hong Kong, which use online representative samples. Learn more about YouGov Surveys: Serviced.