macro project

According to Bhandalkar & Das, 2019, household appliance was valued at about $501 billion in 2017 with a forecast of getting to about 700 billion in 2025. Brick and Mortar includes hypermarket, electronics and electrical retailers while the e-commerce focus on online sales like Wal-Mart and amazon (Grand View Research, 2019). These growths are promoted by increasing technology, urbanization, growth in eco-friendly products, increase living standard and lifestyles changes. This in depicted on the diagram below;

Refrigerator is the highly ordered appliances; this is because it is a basic household necessity that we can go without. It housed perishable products like dairy products, meat products, liquid and frozen food products. There is a positive relationship between energy serving appliances and these perishable household products; so, demand for more energy efficient products are in high demand (Bhandalkar & Das, 2019).

Recent spike in United States household interest in technological gargets and the comfort that it brings has account for market increase of household appliances. To add to that, the increase in tax rebates for energy serving products has cause household to cling to these products to enjoy the gift of extra money in their pocketbook at the end of the year. The table shown corroborate the point this writer is making. (Grand View Research, 2019).

The federal government is strongly backing the promotion of the household appliance industry and market growth. To show this, the federal government grants assistance in the form of rebates and tax credit to manufacturers who are energy efficient in their products with customized multiple technological features (Grand View Research, 2019).

Furthermore, another pattern growth in the US economy and Household appliances aim towards multi-functional advanced product. Potential users would easily opt in for a product if it can serve more than one need at once and save some dollar valued. According to research, the Compound Annual Growth Rate (CAGR) to this domain is predicted to be within the ballpark of 6% by 2023. Several companies are taking advantages of the new opportunities in the industry to enhance their aim to grow (More, 2019).

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