Global Fabric Steamer Market Outlook
The viewpoint of home appliances is different for rural and urban individuals. Home appliances products are seen as products that express the personality of urban individuals. On the other hand, individuals in rural areas generally view products as simply utilitarian purchases.
Individuals from urban areas are more intense to buy products that look sophisticated and expensive. Due to increasing disposable income and household income, the urban population can fulfil their desire of a sophisticated lifestyle. Additionally, as the urbanization rate of a region increases, the expenditure per household on household appliances also increases.
The growing household income and higher growth rate of the working-class population support the growth of linen care appliances, which in turn, drive the demand for fabric steamers in the forecast period.
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Global Fabric Steamer Market: Market Dynamics
Drivers for Fabric Steamer Market
Nowadays, consumers are inclined more towards such products which makes their life easy and saves time. At present, fabric handheld steamers are trending and are expected to expand its popularity among travelers.
Further, fabric steamers consume less time and are gentle on fabrics as compared to ironing. Fabric steamers can be used on hanging clothes which are easier than ironing on board and consumes less time portfolio.
Moreover, the increasing e-Commerce industry especially amongst the working class, owing to the ease of convenience and accessibility, and manufacturers are focusing on the needs of the customers by providing products to them are the factors likely to drive the growth of the fabric steamer market during the forecast period.
Trends for Fabric Steamer Market
Consumers have become more value-conscious while making their decision of fabric steamer purchase. The primary reason behind this consciousness is the growing product knowledge and increasing desire of technology-driven home appliances.
Further, manufacturers are trying to come up with user-friendly products that attract consumers by offering easy operation modes, easy maintenance, portable, and lightweight products such as handheld fabric steamer.
Opportunities for Fabric Steamer Market
Consumer’s lower brand loyalty, higher product penetration, and increased competition have forced manufacturers to come up with more variants than ever. Due to high competition, manufacturers have to come up with new alternatives that attract consumers as they are more inclined towards product varieties.
Companies have shifted their focus from high-income group to low and mid-income group people. Intense competition and higher demand for lower price products have forced companies to introduce a variety of products with competitive pricing.
Moreover, advanced technology also helped the manufacturer in reducing the product price. The challenge has also come from e-Commerce giants such as Amazon, Walmart, and many others which offer products at a cheaper rate. Thus, multiple product variants or models with competitive pricing benefits consumers in many ways.
Challenges for Fabric Steamer Market
The number of counterfeit goods is increasing day by day, especially in online platforms. Counterfeit products are another major concern for brand owners. Companies often struggle to make decisions on taking strict actions against these cheap copies. These online copies use pictures of original products to entice customers into making a purchase.
While the counterfeit products are definitely not purchased by the target audience, but they put a dent in the brand image of the company. Easy availability of similar or lookalike products creates a negative perception of the target consumers’ mind, as a result, companies are losing business opportunities.
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