In an effort to help housewares suppliers provide credible industry data to their retail customers, the International Housewares Association announced the results of a new initiative to create meaningful size estimates for key housewares categories.
The first two categories for which IHA has created an estimate size are bakeware and cutlery. According to the aggregated data, the bakeware category accounts for $425.5 million in U.S. retail sales. The cutlery category is estimated to be $633.9 million at U.S. retail.
“The value of this research is that the participants have a legitimate estimate of strength of the category and can share this information with their retail partners for strategic planning purposes,” said Phil Brandl, IHA president. “The best sources of sales data are the IHA members who sell in the categories. Our goal over time is to provide an estimated size of all major categories in the industry.”
IHA partnered with Riedel Marketing Group for this confidential survey of members in each category and to create an aggregated volume number based on the respondents’ answers. IHA will test two more categories— mops and brooms and hair dryers — before opening it up to other categories, Brandl said. Survey participants receive the results when the category estimate is completed and the data will also be published in IHA’s annual State of the Industry Report.