At the NATM meeting during CES, Don Wilson, Director of Home Appliances and Luxury Products for NATM, provided a comprehensive overview of Black Friday 2024 results and key trends shaping the industry.
NATM members achieved remarkable success during Black Friday, outperforming much of the industry despite intense competition. Aggressive house offers proved pivotal, helping members maintain strong sales. Economic pressures, including inflation, influenced consumer behavior, with many opting for replacement purchases rather than upgrades. Wilson noted a shift toward mass-premium brands, as luxury product sales softened in the first half of the year but rebounded strongly in the second half.
Consumer preferences continue to evolve. While package sales have declined in recent years, Black Friday 2024 saw a slight uptick, signaling renewed interest. Wilson attributed this shift to strategic promotions rather than external factors like tariffs.
Looking ahead to 2025, NATM plans to amplify its members’ competitiveness by hosting major house events and collaborating with manufacturers to enhance offerings. The group aims to leverage its experienced sales teams to deliver superior customer experiences and drive growth. Innovations in the luxury segment are poised to attract attention, with a focus on induction cooking technologies and larger French door refrigerators, reflecting sustainability trends and consumer demand.
Wilson also highlighted the importance of design-driven retail strategies, noting that many NATM members already incorporate design services to support high-end clientele.
As the appliance and luxury markets navigate challenges like high interest rates and slow home sales, NATM remains committed to supporting its members. This includes preparing for its upcoming July show, which promises to spotlight new products, trends, and strategies for thriving in an evolving retail landscape. With a strong focus on innovation and customer engagement, NATM is poised to drive continued success for its members in 2025 and beyond.
See also: CES Spotlight: John Riddle, Head Of NATM, On Innovation, Collaboration, And The Future of Retail
