Household appliance brand Hoover has spoken of aims to grow its price index, increasing the average retail sale price of its washing machines, despite taking part in Black Friday.
Speaking at Hoover’s first ever virtual media briefing, to launch its H-Wash and H-Dry smart appliances, product manager for home laundry Ben Peach stated one of aims of the brand was to grow its price index in 2021.
He also stated the Hoover brand aims to grow its market share (with parent company Haier Group currently number two or three on washing machines alone), retain its number one position in the tumble dryer market, and increase its share in heat pump dryers in 2021.
Speaking about Hoover growing its price index, Ben Peach explained: “The average washing machine retail price is just over £300 in the market. So that’s a price index of 100.
“At the moment, Hoover has a price index of about 95. The aim is, by the end of 2021, for the price index of Hoover to be 98 or 99, so that would mean an average retail price sold into the market of around £300. That’s one of the key drivers for us next year.”
Peach commented on how the brand proposes to encourage consumers to spend more on laundry: “We are still trying to offer products at all price points. We are just trying to offer [appliances with] more features at higher price points with an aim to try and trade consumers up [within the range].”
Business director of freestanding Steve Macdonald added: “Since the Haier company bought us, what you’ll find is there’s definitely more craftsmanship in the product. What we are trying to do is aim the product to a higher eschelon [of consumers] with this proposition.”
When asked how the strategy to increase the average selling price of appliances fitted with participation in Black Friday with retail partners, Steve Macdonald said: “As a major player in the washing machine market, we will have to take part [in Black Friday] to some degree. But what you will find is in some retailers, we are relatively proactive in terms of selling product. We try to not get involved, as much as we can, because what we would like to do as a manufacturer is to drive up the average price.”
Macdonald pointed to the H-Wash and H-Dry appliances helping the brand to achieve a higher average appliance sales price, stating they were “on a par” with products from brands such as Bosch, Samsung, LG and “into the territory” of Miele.