The Changing Landscape of Home Appliance Consumption Due to COVID-19... Homeplus Reports "Increased Spending on Household Goods and Games, Neglected Appearance"

[Asia Economy Reporter Lim Hye-seon] The new consumption patterns brought about by the novel coronavirus infection (COVID-19) have also caused significant changes in the home appliance market in the first half of the year.

According to Homeplus's analysis of appliance sales from March to April this year, as of the 17th, the spread of the 'stay-at-home' culture and increased interest in hygiene led to explosive demand for hygiene and kitchen appliances and IT devices, while sales of beauty care and seasonal appliances relatively decreased.

In particular, consumption focused on products that help housewives exhausted by increased household burdens. During this period, sales of dish dryers and washers grew by an astonishing 36 times compared to the same period last year, and their sales ranking within the appliance category jumped from 40th last year to 18th this year. This is interpreted as consumption aimed at minimizing dishwashing burdens as more families cook three meals at home due to increased telecommuting and reduced dining out.

With the rise in 'home cooking,' sales of electric pan grills and gas/electric ranges increased by 28% and 3%, respectively, raising their sales rankings by 2 to 3 places. Sales of cold/hot water purifiers also increased by 35% due to increased water usage. As more households stockpile large quantities of ingredients, sales of refrigerators and kimchi refrigerators rose by 25% and 8%, respectively. Frequent house cleaning led to a 37% increase in sales of handheld stick vacuum cleaners compared to the previous year, entering the top 10 in sales.

The increase in consumption of products related to students' online school openings was even more pronounced. Laptop sales grew by 40% year-on-year, moving up from 6th to 5th place, and IT devices such as tablet PCs recorded a 177% sales growth rate, jumping from 30th to 16th place. Keyboard and mouse sales increased by 50%, rising from 27th to 17th, and AV device sales increased by 3%, moving from 17th to 15th place.

Game consumption for homeschooling or childcare for children who cannot go outside also increased significantly. Sales of games such as Nintendo grew by 143% compared to the previous year, entering the top 10 sales rankings for the first time this year (7th place), and computer game sales increased by 16%, moving from 33rd to 29th place.

Consumption trends related to office workers with increased telecommuting were also notable. Printer and multifunction device sales increased by 35% year-on-year, raising their sales ranking from 26th to 21st.

On the other hand, as outings and external meetings decreased, the frequency of grooming declined, causing beauty care product sales rankings to plummet from 15th last year to 36th this year. Hair dryer rankings fell from 18th to 23rd, and shavers dropped from 25th to 27th. Consumption of coffee makers and toasters (31st → 33rd), electric kettles (24th → 26th), and blenders (21st → 22nd), which helped with quick breakfasts on busy commutes, also showed a decreasing trend.

There were also products that did not benefit from the improved breathing environment due to COVID-19. Seasonal appliances such as air conditioners and air purifiers saw slight declines in rankings due to clearer air quality following social distancing and chilly spring weather.

However, in the first week of May, when temperatures rose and citizen movement increased, sales of fans and air conditioners increased by 185% and 24%, respectively, compared to the previous year. Considering the Korea Meteorological Administration's forecast that this summer will be hotter than usual, demand is expected to gradually recover.

Meanwhile, Homeplus is holding a home appliance promotion at nationwide stores and online malls until the 27th, selling major appliances with increased customer demand at affordable prices. Seasonal appliances will also be heavily discounted to prepare customers for summer.

They offer kitchen appliances, as well as mice and keyboards, fans, and air conditioners to prepare for the upcoming summer at affordable prices.

Kim Woong, Head of Homeplus Product Division, said, “We will continue to provide core products at reasonable prices in line with the changing lifestyles of consumers due to the COVID-19 situation.”

This content was produced with the assistance of AI translation services.