Kenmore fridge sales soar by 11pc, most reliable fridge to be sold by Christmas
A Kenmore refrigerator sales surge and a new refrigeration company has brought sales to an all-time high.
Kenmore announced on Thursday that it had sold 2.4m refrigerators in a year to end the financial year, an increase of 11pc on the previous year.
It has sold 5.8m since April last year, up from 4.6m the previous two years.
It is the second-highest sales volume ever recorded.
The company said it was selling its first generation of refrigerators for the Christmas shopping season, with more to follow.
Kenwood, which is also known for its refrigerators, is now the biggest name in the market.
“The sales have really taken off this year,” said Neil McInnes, chief executive of Kenwood.
In total, Kenmore’s sales have risen by almost 11pc in the year to March. “
We have seen a really strong demand and we are now seeing a significant number of our customers being able to buy their refrigeration at a discount.”
In total, Kenmore’s sales have risen by almost 11pc in the year to March.
“It has been a very strong year for Kenmore and its continued growth has been the key driver of the company’s financial performance,” Mr McInnis said.
“Kenmore has continued to deliver the best value for customers, both in terms of the quality and value for money and its value for time.”
The company’s sales increased by 10pc on a year-on-year basis.
Kenwoods sales have soared since a series of price rises and price drops during the financial crisis in the wake of the global financial crisis.
The latest increase came in April when the price of a Kenwood fridge was raised by 25p from the current price of £149.99.
It was raised again in October to £129.99 and the price for a Kenmore compressor was raised to £109.99 from £99.
“These price increases are designed to drive higher-value customers back into the market,” Mr Kenwood said.
Kenwell is also one of the biggest suppliers of refrigeration equipment, with around 6,500 refrigerators sold worldwide.
It also supplies refrigeration to the US, Europe and Australia, with the majority of its sales coming from those markets.
The refrigeration maker has been working hard to build up its reputation and the new product line has been welcomed by customers.
“This is another major boost for our sales,” said John Topley, director of sales for Kenwood’s appliance division.
“There is a big demand for the products that we sell and we have a number of new customers who are looking for a more affordable way of getting to and from their homes and businesses.”
A recent report by The Economist said Kenmore had the best-performing appliances of the big four companies.
It said the fridge was the “most reliable, well-performing, and cheapest of the lot”.
“Kenworth’s brand recognition and the loyalty of its customers is further reinforced by its strong performance on a range of quality, price, and service metrics,” it said.
Kenwood said it had “been a solid year” for its appliance division, which employs 2,000 people.
“In terms of customer satisfaction, we have continued to improve and we look forward to a continued strong and successful year,” Mr Topleys said.
The new refrigerator is the latest in a series Kenwood has launched in the past year, including Kenmore refrigerators and Kenmore portable ice makers.
“Kenmore’s new Kenmore ice maker and the Kenmore Portable Ice Maker are both among the best in the world, and Kenwood is continuing to invest in its own technology and innovation in order to deliver even more innovation and new products,” said Mike Taylor, chief marketing officer for Kenley.
The company said that while the market for Kenleys refrigerators has continued its steady growth, “there is still plenty of room for growth in the refrigeration sector, and this year’s continued growth in refrigeration is another indication of that.”
Kenmore also said it is introducing new Kenwood refrigerators to a range that it has launched previously.
“Our new Kenley refrigerators are a significant improvement on our current range and are designed for use in residential, commercial, and industrial applications, as well as other uses,” Mr Taylor said.