The home appliance industry has experienced a slowdown in sales in the past 12 months, with major manufacturers seeing a dip in sales in Q4 2022 and Q1 2023. The introduction of tariffs has led to a shift in the location of imports for washing machines, with South Korea, China, and Mexico accounting for a quarter of imports in 2022. Manufacturers are looking to optimize supply chains and cut costs, including simplifying their products, but are still facing challenges from volatile commodity markets and rising labor costs. Steel prices, for instance, have been high in the US despite lower input costs like electricity. Manufacturers are also exposed to environmental regulations such as the EU’s Carbon Border Adjustment Mechanism and will have to disclose their supply chain emissions from October 2023.
Whirlpool Corporation is a home appliance manufacturer specializing in laundry appliances, refrigerators, and cooking appliances, among others. The company’s products are sold under brand names including Whirlpool, Hotpoint, and KitchenAid.
S&P Capital IQ is a financial database provider that offers financial research, analysis, and data. The company caters to investment professionals, corporations, and universities.
