Those Scary TWICE Appliance Stats

Why the sales figures are actually pretty good

By Alan Wolf, YSN

In its June issue, industry publication TWICE ran its annual ranking of the Top 50 largest appliance retailers, based on 2023 sales.

While BrandSource dealers commanded a whopping 30% of Top 50 real estate (see “BrandSource Dealers Rule the Rankings”), total revenue, which was heavily weighted toward The Home Depot, Lowe’s and Best Buy, fell 8.3% from 2022.

Does this signal an apocalypse for appliances? Hardly, argued Bob Tancula, a former GE and Stevenson Co. research analyst and president of Senex, the market intelligence firm that compiled the figures.

Bob Tancula

The way Tancula sees it, it’s all a matter of perspective. As he noted in a 2022 guest column for YSN, consumers bought a lot of stuff during the pandemic, especially appliances, and the Roaring Twenty-Twenties couldn’t last forever.

Viewed from a different perspective, while appliance sales have declined significantly since 2022, the total Top 50 take of $35.6 billion was 26% greater than 2019 revenue in current dollars, Tancula observed in TWICE. What’s more, that rich payday was achieved despite an average 5% decline in prices last year, as a promotional marketplace gave back some of its pandemic-era gains.

So what comes next for the appliance industry? Tancula believes prices will stabilize and sales will return to the plus column in 2025 and 2026 — right where we left off before COVID.

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