Boston, MA -- (ReleaseWire) -- 06/18/2014 -- There were many price promotions on irons in 2013 together with a shift of category sales to various grocery outlets. Towards the end of the review period, consumers were generally open to offers on small home appliances which emphasise convenience. The wide marketing of irons was part of this consumer behaviour. Volume growth of irons slowed down this year as consumers did not see irons as products worth majorly investing in.
Newpan Ltd led the category in 2013 with a 28% volume share. Newpan benefits from its leading global brand De'Longhi which is widely known and popular among consumers. De'Longhi accounted for 17% of all iron sales. Brimag Digital Age Ltd and Sarig Electric Ltd ranked second in the category, both accounting for 17% of volume sales. Brimag's main brand is Kenwood which is a long time leading brand in small appliances. Sarig benefits solely from its exclusively marketed UK-based brand, Morphy Richards.
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The category has an expected volume CAGR of 3% for the forecast period, same as the growth in 2013. Dramatic growth is not expected in the category as replacement cycles of irons did not necessarily shorten. The rise of electricity rates also had an impact on consumers who will continue to act economically with energy consumption. In major cities, especially those popular among tourists, availability of ironing services has grown and some consumers will not see a need for an iron at home.
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