Despite a challenging retail environment that continues to see traditional brick-and-mortar retailers consolidate their store operations, The NPD Group is forecasting a modest sales increase for the housewares segment in 2017.
Covering more than 100 small kitchen electrics, personal care appliance, home environment appliance and housewares categories, NPD is estimating the growth based on forecasted sales captured in The NPD Group Retail Tracking Service point-of-sale data.
“Our forecast, which used a model that incorporates point-of-sale data, macroeconomic data, and NPD’s industry expertise, suggests that 2017 will be another year of growth for the home industry,” said Lora Morsovillo, president, home, The NPD Group.
According to NPD, home environment appliances, which include floor care, are expected to have the strongest growth this year, increasing dollar sales nearly 4%, followed by personal care appliances with 3% growth compared to 2016 results. Small kitchen electrics and housewares (non-electrics) are each forecast to grow 2% in 2017.
“The home products industry has entered a five year to 10 year window in which it has the potential to see consistent annual growth in the U.S., based on the changes occurring in the demographics of the population,” said Joe Derochowski, executive director and home industry analyst at NPD. “While the environment is supportive of growth for the home industry, manufacturers and retailers will need to deliver innovative new approaches addressing consumer needs and wants, not just bells and whistles, in order to compete and capture consumer dollars.”
