Things I’ve learned from Electrolux
Electrolux has a vision that not many appliance company willing to strive for. It positions itself as a leader in innovative home appliances with its tagline ‘for the better’ or better living. It follows the global trend of internet of things (IoT) by combining with artificial intelligent (AI) technology on and off the product in this case it even develops its own mobile application that helps operate the appliances. The changing demographic of young millennials coming to age and becoming more independent and able to afford owning their own property with the rising of capita income brings the changing of lifestyles, this includes the kitchen needs and also urban housing needs, this is where Electrolux comes in and play as a solution with its four pillars of innovative products, operational excellence, profitable growth and dedicated employees, it is able to deliver luxury, premium and yet affordable products for mass market.
In terms of the benefits that Electrolux will likely to gain by the General Electric (GE) appliances acquisition will consist more on the operational efficiency aspect such as more strategic distribution networks, more American market shares that are already penetrated well by the GE appliances, and more financial horsepower to spread the business.
The strategic direction of the group is about to be more appeal locally. Electrolux is applying decisions that were made inside the productive unit of every branch in every country to be on the same red line which is for the better future, and that could mean in terms of touching on family values or it could be about living independently with every appliances in your control with the touch of a button on your mobile phone.
Electrolux has been spending much attention and resources on R&D with close cooperation with the marketing division, one example is by compiling and engaging ideas from the youth communities with their slogan ‘shape the future’, through this campaign or experience not only Electrolux can harvest fresh ideas for the future but it can also inspire the young generation to appeal more to it to the wide varieties of Electrolux appliances from the early age, hoping that they will someday grow up and remember how good and reliable Electrolux products were and perhaps become loyal customers. This kind of approach if prove to be effective then it can be well replicate towards other segments, such as the family experience, school experience, hotel experience, hospital experience and community experience.
This emerging pandemic brings a new challenge towards home appliances industry, people are getting scared by the virus and their level of insecurity and anxiety are at the very top. Producing a reliable clean high-efficiency particulate air (HEPA) across every level of space could be an opportunity for Electrolux to adapt well or even prove its innovation touchpoint such as cleanliness, security, safety, durable, reliable, easy to operate and help reducing the carbon emissions. In fact with the surplus capital from GE, Electrolux can go big with their promotion by launching their products specially made for the astronauts by partnering with another innovative giant company such as Spacex. This could achieve global dominance and bring on more global traffics to see how durable, reliable and futuristic Electrolux brand is.
