This year, the first two months of the primary back-to-school shopping season have seen significant growth in compact refrigerator sales, compared to the same time last year.
- Nine percent more compact refrigerators sold, compared to the same time period in 2013.
- Dollar sales of compact refrigerators increased 12 percent, compared to the same time last year.
- Growth occurred across the U.S., however compact refrigerator sales increased the most in the South Atlantic, accounting for more than 20 percent of the market*.
In 2013, the hottest shopping season for compact refrigerator sales began in the first week of June and continued through the 2nd week in September.
- The 2013 season accounted for 43 percent of annual dollar sales and 47 percent of unit sales**.
- Within the season, sales peaked from the last week in July through the third week in August**.
- The average selling price was lowest during the shopping season, and 20 percent lower during the peak, compared to the off-season average selling price**.
“The prevalence of compact refrigerator options in the marketplace, and relatively small cost outlay relative to the convenience benefits, are helping them make their way into the college dorm budget consideration set,” said Debra Mednick, executive director and home industry analyst. “This is appealing to teens as well, allowing them to pick the product in the color or finish they prefer, and adorn the exterior to reflect their personality.”
Source: The NPD Group, Inc. / Monthly Retail Tracking Service, June-July 2014
* Source: The NPD Group, Inc. / Monthly Geo-Level Retail Tracking Service, June-July 2014
**Source: The NPD Group, Inc. / Weekly Retail Tracking Service
Note: NPD’s Monthly and Weekly Retail Tracking Service information is based on point-of-sale data from participating retailers.
For more information, or to speak with Debra Mednick, please contact Janine Marshall, 516-625-2356 or firstname.lastname@example.org.