Who do you think is more likely to own a smart appliance? A 45-year-old established executive or a 21-year college grad? According to LG SIGNATURE, the ultra-premium home appliance and home entertainment brand from LG Electronics, the answer is a 21-year-old. The company recently hosted an oceanfront panel discussion in Malibu, California on the topic of home design and smart appliances, enlisting high-end design, real-estate and décor experts to share insights from their professional experience in the field.
After each panelist provided their own definition of smart appliances, the discussion moved to LG SIGNATURE's latest proprietary survey that focused on consumer attitudes and behaviors as they relate to luxury design and innovation, and how the combination can positively impact the value of a home. The survey was conducted online last month (August 2017) and consisted of 769 U.S. homeowners, with a sample size of 250 homeowners from Los Angeles area.
When it comes to real estate, the panelists shared that customers are looking for cost-benefit and want to ensure that value comes with the appliances, noting that LG SIGNATURE provides that reassurance. In addition to investment value, the panel spoke to the line's sleek design, simplicity, and efficiency – aspects not often associated with today's tech-forward appliances.
The home design experts also shared that most consumers are willing to spend extra money for simplistic products that add convenience and efficiency to their day to day lives.
The discussion went on to expose some surprising insights including:
- 70% of Americans reportedly own a home with smart appliances.
- Many Americans (87%) agree that smart appliances contribute to the value of their home.
- The willingness to spend more on luxury appliances to make a statement decreases with age. Millennials (20 - 34-year-old) are more than twice as likely to own smart appliances in their homes than 45 - 55-year-old (84 percent vs. 40 percent, respectively)
- Men were much more likely than women to spend on luxury appliances to make a statement about their home and themselves (83 percent vs. 63 percent, respectively)
- The appliance consumers purchased most in the last 24 months was a refrigerator (52 percent) and of those, 63 percent opted for a standalone refrigerator versus a built-in.
- Survey respondents believe modern design is the easiest style in which to incorporate smart technology and/or appliances.
- And who is picking the smart appliances? According to respondents, almost half (49%) of Americans said an interior designer/decorator played a role in the selecting of appliances. Also, men were more likely to higher the designer/decorator to choose their appliances. (39%)
- In Los Angeles area alone, Los Angeles are more likely to spend on luxury appliances than the rest of the country (80% vs. 68%). While Midwestern's are least likely to spend on luxury appliances to make a statement (56%).
"This event is a direct reflection of LG SIGNATURE's unwavering commitment to uncovering the latest trends in the luxury appliance market, ensuring we consistently deliver the best products and a state-of-the-art living experience that feels pure, sophisticated and luxurious for our discerning customers," said David VanderWaal, LG's U.S. marketing vice president. "It was a true honor to host some of the country's most cutting edge real estate, home decor, design and tech figures at our panel discussion."
During the exclusive event, guests were given the opportunity to interact with the ultra-luxe LG SIGNATURE home appliances which include the LG SIGNATURE Air Purifier (AM501YWM1) , LG SIGNATURE OLED TV W - 4K HDR Smart TV (OLED 77 W7P), LG SIGNATURE Double Oven Range with ProBake Convection® (LUTD4919SN), LG SIGNATURE Top Control Dishwasher with QuadWash™ (LUDP 8997 S) and LG SIGNATURE InstaView™ Door-in-Door® Counter-Depth Refrigerator (LUPXC2386N). Each thoughtfully designed product is enabled with the cutting-edge SmartThinQ technology, so consumers are able to control them with smartphones and via Google Home and Alexa.
As guests strolled through the Malibu oceanside home, LG SIGNATURE brand ambassadors demonstrated how to use the state-of-the-art appliances, including the TV's ability to attach directly to the wall, the refrigerator's sleek mirrored glass panel that illuminates with two quick knocks, and the electric oven's double dimensions offering the brand's largest capacity available.
The key takeaway from the event for consumers is that smart appliances are here and can add value to your home and lifestyle. LG SIGNATURE products are smart appliances and are a solid home investment for Americans, especially ones who want to improve the aesthetic of their home.
To learn more about each of the LG SIGNATURE products, please visit: www.LGSIGNATURE.com