Major Domestic Appliances (MDA) experienced more than 15% growth in promotional pricing for the Black Friday Cyber Monday (BFCM) period year-over-year, according to data from retail pricing data, analytics and insights firm, Invigor, attributed to extensive price rises throughout the year.
Invigor Pricing and Promotional Insights revealed that growth in average selling prices (ASPs) was led by ovens (18%), washing machines (14%), refrigerators (13%) and dishwashers (7%) during BFCM. However, share of voice (SOV) across print and online media, including catalogues, declined by 30% year-over-year in the MDA category. Ovens, cooktops and dishwashers had fewer offers available – an average 25% less compared to BFCM in 2021. Refrigerators and washing machines were the exception with share of voice increasing 40% and 17% respectively.
The Invigor Pricing and Promotional Insights has also shown that small appliances experienced ASP growth of 6% during the sales event driven by microwaves (20%), coffee machines (9%) and floorcare (6%). However, overall, SOV declined more than 30% across print and online media with coffee machines and microwaves down 13% and 12% respectively. Bucking the trend was air fryers with significant SOV growth of more than 100% on the previous year and floorcare with growth of 14%.
Televisions saw a decline in promotional ASPs of 10% on the previous year, evident with the range of savings on offer from the big box retailers, according to the Invigor Pricing and Promotional Insights. SOV for TVs grew over 100% on the previous year, attributed to improved stock levels and offers. OLED models drove the SOV within the TV category with more than 70% growth on the previous year. By comparison, there was a 50% decline in offers for LED TVs.
Computers and tablets experienced ASP growth of 9% on the previous year’s event. Laptops grew SOV by 30% for the 2022 event with a significant decline for tablets, down 60%. There was a noticeable scarcity in smart home security offers that were highly advertised last year.
Invigor is an AI driven data and analytics company that works with major brands and retailers supplying critical pricing and promotional insights, allowing them to save time and grow margin.