Top appliance brands to watch in 2023
The appliance market is dominated by a handful of players, with Samsung, LG, Whirlpool, and General Electric comprising most of the market for key categories like refrigerators, ranges and range hoods, and washers & dryers. However, there have been some notable shifts in market share in recent years as growth rates for these companies have decelerated meaningfully since 4Q21.
Appliance Brand Y/Y Growth (%)
United States | Online and B&M Sales at Best Buy, Lowe’s, Home Depot | Jan 2021 - Dec 2022
In particular, Frigidaire has been making waves with its industry-leading GMV growth in 2022. While its total GMV growth is off of relatively easier comps compared to 2021 growth rates, the brand has been noticeably gaining incremental market share across various categories, such as refrigerators, over the past few quarters.
Refrigerator Market Share
United States | Online and B&M Sales at Best Buy, Lowe’s, Home Depot | Jan 2021 - Dec 2022
So, what appliance brands do we anticipate will be most competitive in 2023? Since 2020, LG has increased its share of the appliance market by ~2.5%, making it one of the fastest-growing players in the space. Frigidaire follows with ~1% of share growth. On the other hand, Whirlpool has lost close to 2% of share over the same period.
Brand Share Gainers and Losers - 2022 Share vs 2020 Share
United States | Online and B&M Sales at Best Buy, Lowe’s, Home Depot | Jan 2020 - Dec 2022
LG's strong share growth and Whirlpool's share loss suggest that there are significant shifts happening within the appliances market. YipitData is the leading market research provider for home improvement brands, allowing you to closely monitor the industry with visibility on total market share, channel breakdowns (B&M v E-Commerce), and customer insights. Connect with an analyst to learn more.
Sources: Email Receipt, In-Store Receipt, and Web-Scraping
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