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Two things your boss wants you to know about the cookware market: premium and entry levels

by Redazione on 6 Aug 2018

Cookware is a mature market, and in recent years, this market may be experiencing its period of maximum expansion. Cookware trends are constantly changing and evolving because of different perceptions and awareness on the part of end users and their constant search for innovative and unique solutions for their kitchens. This trend has led to an ongoing polarization of the market between premium and entry-level offers.

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The polarization of the cookware market

Identifying your market share is important for giving your products a precise identity, especially in the light of the ongoing polarization of the market. On the one hand, there are premium products, offering high levels of quality and excellence at higher costs. And on the other hand, in contrast to these first-class products, there are lower-quality products being offered at competitive and attractive prices. This polarization of the cookware market is mainly the result of changes in customer demand, which today is oriented in two directions: overall savings, which leads to the purchase of entry-level products, and excellent solutions, which leads to the purchase of premium products.Set LAMINA - Kolimax 2015

It is important not to get lost somewhere in the middle by offering products that are perceived as being of medium quality and which do not clearly meet the needs of a market divided between aesthetically innovative cookware with high-quality designs, coatings, effects, features, and more promotionally-oriented products where the main purchase driver is the lower price.

You can differentiate your products in one way or another through many small enhancements, including features and details. It is essential to identify which target you want to reach and to move in that direction, because half-measures are no longer profitable.

 

The current cookware market

There are companies that specialize in the production of high-quality, fashionable and innovative handles for both ends of the polarized cookware industry. F.B.M.’s extreme attention to this market has led us to develop a range of products that can positively meet all the demands of this evolving market. In fact, F.B.M. has an extensive catalog that provides solutions spanning multiple categories and can also offer something different when price is the main driver behind the choice of handles.

FBM set FLY cookware trendsOne example is the F.B.M. Fly Handle, a new product concept that, despite being highly-competitive, offers functionality (a spoon rest) that translates into higher added value for the consumer. Another example is the MO285 handle, which has an innovative anti-overheating patent exclusive to our company. This is because we believe that we can offer functional and practical solutions in the area of entry-level utensils and accessories with attractive designs, without impacting the price!

The important thing is to rely on innovative solutions in the market for your manufacturing and to never compromise on your products.

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Topics: Renovation