In this article, we analyze a snapshot in time of the major appliance market. Through the analysis of major appliance market share and consumer insights data from 2022, we determine the top brands and retailers in the major appliance industry, as well as other significant consumer insights.
Read on to find out what major appliance brands consumers are buying most, where they are buying them, and what drives their purchase decisions. For even more insights, download our free major appliances market rankings infographic.
For the purpose of this article, all data insights were pulled from the TraQline platform using the rolling four quarters period ending December 2022, looking at the Total US Major Core Appliances category. Contact us for the most recent major appliances market data, further breakdowns of the data, or to understand the full scope of insights available through TraQline.
Who are the leaders in major appliance market share?
Major Appliance Market Share by Retailer
At the end of Q4 2022, Lowe’s continued to lead the core major appliances market with the highest market share percentage (28%), based on units sold. The second highest share was held by The Home Depot, who claimed 23% of the core major appliances market. Notably, both Lowe’s and The Home Depot were up significantly year-over-year.
Major Appliance Market Share by Brand
The top brand in major appliances continues to be Samsung, who saw a steady upward trend in recent years. At the end of Q4 2022, the brand leader held 19% of the major appliances market, based on units sold.
The brand with the second highest share was GE, who enjoyed a 17% share of the major appliances market.
More Than Market Share: Other Notable Retailer & Brand Insights
Go beyond major appliance market share with TraQline. Get retailer and brand data that include insights like outlets shopped, purchase drivers, and more.
Outlets Shopped: Across the major appliance industry, 53% of purchasers only shopped at one outlet before purchase! However, consumers shopping at Amazon and Sears are much more likely than the industry average to shop at only one outlet before purchase (62% and 60%, respectively).
Purchase Drivers: For major appliance consumers, the most important reasons for purchasing at a particular outlet is “competitive price” and “good selection of products.” For brands, a key motivation for purchasing one brand over another is “competitive price.”
How much do consumers spend on major appliances?
Across the industry, the average price paid for major appliances was $946. However, the average amount spent typically varies by brand and retailer. Let’s dive into two examples:
For consumers buying major appliances at Amazon, they enjoyed the lowest average price paid, coming in at only $742 — significantly lower than the industry average!
On the other hand, for those purchasing at Lowe’s – the retailer we noted as leading in market share – they paid closer to the industry standard, averaging $929.
Which consumer demographic buys the most major appliances?
Using our census-balanced data, TraQline delivers purchase insights that paint a picture of the typical durable goods consumer.
What are the most common traits of someone looking to purchase a major appliance?
Based on Q4 2022 data…
- 36% (that’s a little over a third!) of all major appliance purchases are made by both a man and a woman together
- 77% of major appliance purchasers own their own home
- 59% of consumers buying major appliances are married
How are online sales trending for the major appliance market?
In 2022, consumers made 25% of all major appliance purchases online.
However, online purchases are down about 2 percentage points year-over-year – likely due to consumers experiencing greater comfort with pandemic conditions, and therefore an increased willingness to purchase in person.
Notably, while only 25% of purchases were made online, about 61% of consumers shopped online in their purchase journey. The online shopping activities included everything from research, price comparison, reading reviews, and more to actual product checkout.
Get Total Market Insight for Major Appliances
Broaden your understanding of the major appliance market with even more actionable insights into the industry — from market share to SKU-level retailer rankings. If you would like to know more about our major appliance intelligence, get the most recent major appliances market data, or understand the full scope of insights available through TraQline, contact us today.
To see the rest of the insights from this article, fill out the form below to download the infographic.