2024.10.22
September strongest month yet for APPLiA market in 2024
The APPLiA market has decreased by 12.8 percent compared to last year. September was the strongest month so far in 2024, but still below the level from August 2023.
In terms of value, the APPLiA industry as a whole shows a distance from last year's values of an accumulated minus 12.8 percent.
The month of September was the strongest month in terms of turnover for the industry so far in 2024, but still a long way from the outcome in August last year (minus 9.4 percent).
MDA and SDA continue to decline in value
MDA (larger appliances) showed some muscle during the month of September but improved the YTD outcome only marginally. SDA (smaller appliances) has continued well up to the monthly value in September 2023 that we compare with (minus 21.1 percent) and is behind the YTD figures.
We report the value-based sell-in figures above, but it may also be appropriate to compare these with the volume-based development in the number of products sold.
The percentages show YTD figures as of 09/2024 compared to the same period in 2023.
For MDA, there is a certain correlation between value and volume – with a tendency towards a certain value amplification in the relationship. This can be explained by the general price trend in society.
SDA volume on par with last year
The entire SDA segment is losing almost no volume compared to 2023, while value is falling (see table above). This suggests that a shift to cheaper product alternatives has occurred – this is keeping volumes up.
The product categories within the SDA segment that show the most positive volume development are ”ironing” (irons, steam stations and steamers) with plus 17 percent, ”mixers & juicers” with plus 10 percent, ”toasters & grill” with plus 5 percent and vacuum cleaners with plus 2 percent.
One category of products that has not increased its volume is "coffee machines", which so far this year have declined by 2 percent compared to September 2023.
Continued recession with small glimmers of light
Statistics Sweden's economic report shows some small glimmers of light in the Swedish economic situation. In the latest report, Jenny Lunneborg, economist at Statistics Sweden, writes:
– The Swedish economy is still in a clear recession. However, a slight improvement is visible in Statistics Sweden's economic clock, where the GDP indicator has moved from the recession phase to the recovery phase, says Jenny Lunneborg.
In addition, production in the construction industry has rebounded and there are some signs that the Swedish labor market is stabilizing. A light in the darkness!
