An inevitable part of any home, the array of household cleaning tools and supplies ensure that our abodes are clean and presentable. Everything from mops, brooms, buckets, dustpans and scrubbers are neatly tucked away in closets or obscure kitchen or bathroom shelves and are ready participants in those much-despised spring cleaning sessions. The keyword here is ‘inevitable’. Unless you fancy being called a cave-troll, you are bound to invest in some of the basic household cleaning tools.
Vendors, herein lies your opportunity. An inbuilt compulsiveness in the human psyche is driving your market!!
Talk of difficult markets though, most cleaning tools and equipment are highly localized productions. Herein, the bulk of the profit pie is enjoyed by low-key manufacturers of highly affordable and plentifully available cleaning products. Big names such as 3M, Bradshaw International, Freudenberg, Greenwood Mop and Broom and Libman, are relegated to being the ‘also-rans’.
Logically, do you look out for branding when buying a broom?
Standing out is the key- In a market this competitive, ideation pays bigtime
The key market drivers that contribute towards innovation and variety in this very competitive sphere of operations include the premiumization of common products to improve their core performance and ease of use, thereby helping them stand out amid the competition. Also, rapid deployment of new products, production of eco-friendly alternatives and experimentation with bright colors, innovative materials and multipurpose usage, helps improve brand visibility and builds customer loyalty. Yet, the market is extremely fragmented, and the attention span of the target audience is very limited.
Variety & innovation- Beating the locals at their own game
Unorganized players hold a dominant grip when it comes to the household cleaning tools and supplies market. How then can a new entrant compete? The answer is multifold, and involves a brilliant mix of innovation and foresight. Small, localized manufacturers are into the basics minus the frills- and, they count the cost-effectiveness of their products as their USP. Their target audience mostly comprises of the lower income groups- with their tight budgets, yet the awareness of the ills that can occur when hygiene isn’t given its due. This demographic can be easily weaned away with the introduction of smart features as part of the cleaning tools that ultimately improve the functionality and easy usage of the latter. Partnering with discount retail chains to stock, promote and sell these wares works wonders in terms of the applicable costs, and protecting original innovations under the umbrella of a patent helps avoid unauthorized usage of profitable intellectual properties.
Looking for more dirt on the markets? Fret not, we have you covered
The aforementioned insights feature prominently in the exhaustive market research report compiled by Technavio. A comprehensive take on the factors impacting trade in this challenging sector, this document is available to be sampled for free or customized to suit your individual corporate requirements.
