Consumers will be spending more on appliances this holiday season, according to an analytics-based forecast made by technology giant IBM earlier this year.
IBM expects a four percent increase in appliance sales in December 2010 compared to December 2009. The data is compiled based on 19 years of previous historical analysis using IBM's software that the company developed to analyze long-term trends.
Consumers are keen to purchase trendy modern household appliances like front load laundry machines in designer colors and stainless steel kitchen set, including French-door refrigerators and two-oven ranges. These trends may be pushing the appliance sales increase, says the forecast by IBM.
The price of stainless has come down and it's much more affordable and reasonable, said Chuck Ewing, CEO of Appliance Factory Outlet.
Disposable income is on the rise, according to a report by the U.S. Commerce Dept, and discount retailers like Appliance Factory Outlet are able to offer consumers and gift-givers new home styles, it said in a statement.
Ewing said that the hottest items this holiday season are for the laundry room and the kitchen.
The laundry room is becoming the new decor area of the home, said Ewing. And French-door refrigerators are highly sought after because they offer so much space and high-quality features.
Demand was strong for luxury appliances during Black Friday sales and forecasters say this demand will continue through December. Appliance Factory Outlet reported an increase of almost 40 percent over last year's sales for their Black Friday event. Ewing expects his Christmas sales to follow the same trend.