Eleni Fialo

Across categories, Ranges continued to represent the majority of Home Appliances within the online channel (44%). The large presence of online offerings of ranges was driven by manufacturers such as Ilve, Viking, and AGA, as well as additional online exclusive premium manufacturers. Cooktops and Wall Ovens offered the second-largest online share of unique models (19%), followed by Refrigerators (17%), Laundry (8%), Dishwashers (8%), and Over the Range (OTR) Microwaves (4%).

Out of the 718 product debuts captured in 2024, only 36 gained an in-store placement. Samsung offered 29 product debuts in 2024, with 11 models gaining an in-store placement. These debuts included the 22.5’, 23’, 28.6’, and 29.0’ BESPOKE French Door models. LG followed with nine of its 23 product debuts in 2024 gaining in-store placements. Most of LG’s in-store debuts were a mix of Top Mount, French Door, and Side by Side models, with three large-capacity French Door models, including the 30.7′ InstaView Stainless French Door (LF31S6360S).

Notable 2024 Refrigerator series launches included:

• Samsung Bespoke Series – Featuring the AI Family Hub in the 4-Door Flex models
• Bosch 100 Series – Aimed at delivering premium features with accessibility
• LG MAX™ Series – A 4-Door standard-depth line offering enhanced flexibility and style
• LG Counter-Depth MAXRefrigerator with Zero Clearance

Hisense led key manufacturers in the overall average discount percentage in 2024 (27%), as well as experienced the largest increase YoY (+7pps). Frigidaire offered the second-largest average discount percentage of 2024 with 24%, followed by Samsung (21%), LG (13%), GE (13%), and GE Profile (13%). LG (-3ppts), Amana (-2ppts), Bosch (-1ppt), and Electrolux (-2ppts) all experienced a decrease in average discount percentage during 2024.

In 2024, Lowe’s consistently offered the highest discounts, peaking at 28% in February and maintaining a strong promotional focus throughout the year, with dips in July and August before recovering to around 26% in December. Best Buy and regional merchants closely followed, with their discounts oscillating between 24% and 26% for most of the year, showing a strong competitive push. Home Depot, however, maintained a more conservative discount strategy, hovering between 19% and 22%, with a slight increase to 22% in April before stabilizing again. These trends highlight Lowe’s dominance in promotional activity while showcasing a steady but less aggressive approach from Home Depot.

In 2024, promotional discounts for refrigerators during key sales periods showcased an overall increase compared to previous years. Presidents Day saw a significant jump to 21%, up from 18% in 2023 and 12% in 2022, marking one of the largest growth periods. Memorial Day and Independence Day also reached 22%, slightly increasing from 21% in 2023 and noticeably higher than 14% and 15% in 2022, respectively. Labor Day discounts dipped slightly to 20%, compared to 21% in 2023, but remained above the 16% in 2022. Black Friday discounts held steady at 21%, consistent with 2023 and up from 18% in 2022.

Among key brands in 2024, KitchenAid consistently held the highest net price in 2024, ranging from $1,706 to $2,071, with a notable peak in August before stabilizing near $1,857 by December. LG remained competitive in the mid-tier range, fluctuating between $1,220 and $1,343, with prices stabilizing after a slight dip mid-year. Samsung’s pricing stayed steady in the $1,000-$1,100 range, indicating minimal yearly volatility.

Whirlpool and GE operated at the lower end of the spectrum, with Whirlpool’s prices dropping from $921 in January to $790 by December and GE showing a consistent downward trend, ending the year at $599. Frigidaire maintained its position as the most affordable option, with prices hovering around $770-$880 for most of the year.

The 2024 Year-in-Review for Ranges outlines significant market trends, highlighting their continued prominence in the major home appliance sector. The analysis includes insights on placements, product debuts, promotions, pricing, and advertising, offering a comprehensive view of the category’s performance over the past year.

• Ranges dominated online offerings (44%) but lost the top spot to laundry in brick-and-mortar placements.
• 1,858 new ranges were introduced, driven by premium manufacturers like Ilve and Viking. March was the peak launch month.
• Discounts averaged 9%, led by Hisense (31%) and Frigidaire (22%).
• KitchenAid led premium pricing, while GE and Frigidaire remained budget-friendly.
• Expect innovation balanced with affordability amidst economic challenges.

Within the brick-and-mortar channel, Ranges lost its dominant presence to Laundry, which held a 25% share of all retail placements. Refrigerators comprised the second-largest offering with a 23% share, followed by Ranges (19%), Dishwashers (13%), Cooktops and Wall Ovens (13%), and Over the Range Microwaves (8%).

Ranges: 2024 Share of Retail Placements by Brand

In the retail channel, GE continued to hold the majority of in-store placements (18%), increasing by 1ppt compared to 2023 (17%). All remaining top five manufacturers for placement share remained consistent with slight increases and decreases by manufacturer, including Samsung (18% share, +2ppts YoY), Frigidaire (13% share, -1ppt YoY), Whirlpool (12% share, flat YoY), and LG (10% share, flat YoY). 

Out of the 1,858 debuts in 2024, only 51 gained in-store placements. Samsung led in in-store debuts, representing with 20 in-store placements out of the 70 total across brands. All of Samsung’s in-store debuts were for its refreshed BESPOKE Series, which included the 6.3′ BESPOKE AI Stainless Induction (NSI6DG9900SR). GE followed closely behind Samsung with 19 in-store debuts, driven by the expansion of its 400, 500, and 600 Series models during the first half of the year. 

Additional notable product debuts included: 

• Samsung BESPOKE Ranges – Including the first induction models introduced to the series
• Midea Freestanding Range Series – Marking Midea’s debut in the freestanding range market, with models featuring large oven capacities and steam cleaning functionality
• Frigidaire Professional Series – Equipped with Air Fry, True Convection, and sleek stainless-steel designs
• Whirlpool Smart Range Series – Focused on connectivity with features like remote control and scan-to-cook technology

In 2024, Best Buy led with the largest promotional discounts, peaking at 27% in November and maintaining consistently high discounts above 24% throughout much of the year. Home Depot followed, peaking at 23% in November, with discounts generally ranging between 18% and 22%. Lowe’s peaked at 22% in March 2024, with discounts typically fluctuating between 16% and 22% throughout the year.

Regional merchants offered the lowest average discounts, peaking at 20% in December and remaining between 14% and 18% throughout the year. Best Buy’s aggressive discounting dominated key promotional periods, especially in November, while Home Depot maintained consistent activity with a notable increase in May. Lowe’s demonstrated strong performance early in the year, with its March peak, while regional merchants showed steadier, more conservative trends.

In 2024, promotional discounts for ranges during key sales periods showed varied trends compared to prior years. Presidents’ Day saw a notable decline in average discounts, dropping to 16% from 19% in 2023 but remaining higher than 14% in 2022.

Memorial Day also experienced a decrease, with discounts averaging 17%, down from 19% in 2023 and 15% in 2022. Independence Day held steady at 19%, consistent with 2023 and up from 16% in 2022. Labor Day discounts increased slightly to 19%, compared to 18% in 2023 but remained below the 20% in 2022. Black Friday tied with its 2022 peak at 21%, recovering from 19% in 2023.