As millennials, or, generation Y, have become a major part of the workforce in the nation, the constantly evolving home appliances industry has begun the integration of their household and lifestyle needs in their product range. To cater to this technologically adept generation of over 400 million, an intervention is at hand for making the appliances smarter, more energy-efficient, and automated. Automation and specific targeting will be the driving force in innovation and development of home appliances in 2019. Here is a brief of how the home appliances industry has specifically targeted millennials as a potential consumer base.
Nowadays, millennials are the prime buyers of homes and are looking for their first safe haven. And, the home automation industry is keeping a close eye upon the needs of this tech-savvy generation, touting it as the future of modern living. Aimed at a holistic integration of all the individual appliances in our living space, home automation seeks to provide a more digital and modern alternative to the average household. To maintain this spirit, home appliances manufacturers are also keeping their focus on making their products capable of integration with such automation systems by supplying them with appropriate features.
Wire-free automation solutions such as home surveillance, and automatic door-locking systems, are some of the favored luxuries of the tech-savvy, and prove to be the ultimate selling points to a home nowadays. However, the development of automated homes or home automation through integration has been the focus in urban metropolitan cities such as Pune, Delhi-NCR and Mumbai. But in 2019, it seems that the home automation industry will receive a better acceptance and expansion to other spaces as well.
Another critical approach that is being taken up by the home appliances industry professionals is in developing products that are more suited for the cooking needs of Indian millennials, whose taste is still defined by local flavors. Localized products such as automatic chapati maker, and specialized microwave with specialized settings for making curries are showing up in the product range of global pioneers such as Bosch, LG, and Samsung. Such a range of products finds the attentive eyes of the millennials in India looking for automated kitchen solutions. Also, post the launch of Make in India campaign, a lot of Indian home appliances manufacturers are showing up in the market with an array of products, designed specifically to be useful in everyday of a modern Indian. This process of localization provides an insight into the approach of the industry in terms of personalization and supplying niche products.
Another area that provides proof of the millennial intervention is when we look at the products, which earlier carried the garb of being Western appliances such as vacuum cleaners. These so-called Western products have begun receiving greater acceptance than ever before, and the millennial force is the guiding force for this transformation.
It can be concluded that home appliances industry will maintain its course of localization, and automation in 2019 and the years that follow. Companies that fail to incorporate the needs of the millennials in their product range can very well fear to become obsolete. So, the anticipated growth of the home appliances market at a compound annual growth rate of 9 percent per annum by 2022 and contemplating the effects of this generational shift in workforce and types of consumerism should be given more scrutiny.
At Daenyx, we strive to bring home appliances on par with the digital age so that they meet the needs of a modern lifestyle. While the world stays awed at the latest, yet exclusive technological innovations, the products that cater to our living the most, being home appliances, remain at the fringes of technological advancement. With innovation at our heart and customer insight a priority, our aim is to develop products that are technologically advanced and easy to integrate into our daily lives. Daenyx International believes that true modern living will only come with transforming our home and the appliances we furnish it with.