Multi-cookers, like Instant Pot, Are a Hot Holiday Item with Multitasking U.S. Consumers
Chicago, December 13, 2017 – Even before the holiday season began sales of multi-cookers were surging, and as of the 12 months ending November 2017, sales have increased 79 percent to more than $300 million,* reports The NPD Group, a leading global information company. A top performing category over Thanksgiving week, as well as the week prior, Instant Pot and other leading multi-cooker brands flew off the shelf over Black Friday weekend, and inventory was sold out or low but has since been replenished.
“Multi-cookers are hitting all of the hot buttons for today’s consumers — speed and convenience in healthy at-home meal-prep, multi-functionality, and ease of use,” said Joe Derochowski, executive director and home industry analyst at NPD. “They are a great example of product innovation meeting consumer needs – multi-cookers are not a fad.”
Another key reason why multi-cookers are popular is that more consumers are eating and preparing their meals at home, according to NPD’s Inside America’s Kitchen study, which leverages an audit of 2900 U.S. kitchens, examines kitchen trends, and provides insights on what they mean for the food and home industries. Eighty-two percent of eating occasions are sourced from home, which translates into a renewed interest in cooking and home-prepared meals but without extra effort and time invested in it.
“In the past we saved time by using frozen or ready-to-eat meals. Now we’re eating more fresh foods that require more preparation and cooking,” says Darren Seifer, NPD’s food and beverage industry analyst. “The time savings for many of us are built into how we source the foods or which kitchen tools we use. Kitchen items, like multi-cookers, help with meal preparation conveniently and quickly.”
Household penetration of multi-cookers is still relatively modest at 11.5 percent, but NPD’s Derochowski says that penetration will go up significantly during the holidays.
* Source: The NPD Group/Retail Tracking Service, 12 months ending November 2017