Trends and drivers
Electrolux Professional benefits from various structural growth drivers across its end-markets. We consider the following factors to be key market trends and drivers to support long-term growth in the global food, beverage and laundry equipment industry development:
A growing population leads to, among other things, an increased number of potential end-customers, demand for out-of-home food and beverage consumption, and other application areas for professional appliances.
Urbanization refers to the population shift from rural to urban areas. Urbanization generates higher demand for living space in already densely populated areas and increases the proportion of white collar jobs, pushing more people to demand external food, beverage and laundry services to save time and space. In addition, urbanization leads to increased traffic in public places, such as shopping centers and train stations, resulting in increased demand for fast-food and beverages.
Women’s representation in the labor force has steadily increased on a global scale. Simultaneously, the working age has generally widened as a result of increasing pension age and changing student working patterns. As a result of this disposable household income has increased, while available time for household chores, such as cooking and cleaning, has decreased.
Growing disposable household income
Higher disposable income allows more people to spend an increasing amount of money on leisure activities such as out-of-home dining and less time on household chores such as laundry.
Changes to customer and consumer behavior
Trends, technological developments and sensibilities are rapidly changing in the global out-of-home consumption industry, impacting customer and consumer behavior. Changes to customer and consumer behavior include:
- Need for greater customization
- Drive towards highly innovative products and services with focus on connectivity and comprehensive aftermarket service offering
- Growing concerns around environmental impact and sustainability
- Increasing emphasis on freshness and quality of ingredients
- Desire for new flavors and a sense of exploration for food and beverage
- Increasing attention to the cost of ownership or usage rather than the pure cost of the equipment