How Lowe’s is Winning the Refrigerator Market by Redefining Product Mix

In 2022, the refrigerator market generated a staggering $7.36B in GMV across Best Buy, Lowe’s and Home Depot. Across top retailers, Lowe’s dominates the refrigerator market with close to 50% of total refrigerator sales.

So what types of refrigerators are most popular at Lowe’s? Over the past year, we’ve seen growth in top-freezer refrigerators, in addition to a decline in side-by-side and bottom-freezers in 4Q22.

Of top-freezer refrigerator sales at Lowe’s, we’ve seen an interesting shift in market share, with Frigidaire gaining over 20pp from 1Q20 to 4Q22, stealing share predominantly from Whirlpool and LG. With even a 2pp share gain in Top-Freezer Refrigerators at Lowe’s representing a ~$12.5M opportunity, Frigidaire’s 20pp gain represents $125M in growth.

Whirlpool has felt the pressure of Frigidaire’s growth, with share declines of over -20pp from 1Q20 to 4Q22. However, as Whirlpool aligned its average sales price (ASP) more closely with Frigidaire’s in 3Q22, it began to recover market share.

Could Whirlpool have prevented losses with near real-time knowledge of Frigidaire holding prices steady in 1Q22? Understanding pricing v peers within sub-categories and retailers will continue to be paramount in growing and maintaining brand market share across appliance categories.

Sources: In-Store Receipt Data, Proprietary Email Receipt Data, Webscraped Data

Over 450+ businesses are unlocking valuable market insights with YipitData. Interested in custom insights on your brand’s performance with only 7-10 days of lag?

Fill out the form to get started.