[Seollal Appliances] The Appliance Industry's New Consumer Group: The 'Millennial' Generation

The hot topic in the home appliance industry is the 'Millennial Generation,' a new consumer group that has emerged. The Millennial Generation is a concept first introduced by American generational experts Neil Howe and William Strauss, referring to those born from the early 1980s to the early 2000s.

Millennials have used digital devices from a young age, making them more adaptable to new digital gadgets than any other generation. They also tend to value experiences over simple ownership and prefer products that match their tastes.

New home appliances that attract the attention of the Millennial Generation are being introduced one after another. At 'CES 2020,' the world's largest IT and home appliance exhibition held earlier this month in Las Vegas, USA, and 'KBIS 2020,' North America's largest kitchen and bathroom exhibition, numerous appliances focused on the Millennial Generation were showcased. New products such as the air purifier ‘Mupung Cube’ and washing machines and dryers targeting the North American market also appeared.

LG Electronics is releasing smart appliances equipped with its artificial intelligence ‘LG ThinQ.’ LG Electronics has incorporated LG ThinQ into washing machines like the ‘TwinWash’ with AI DD motors and robot vacuum cleaners dedicated to wet mopping.

Changes are also underway in TVs. Samsung Electronics introduced ‘The Sero,’ a TV that can switch from horizontal to vertical screen orientation, targeting Millennials who use smartphones in daily life. LG Electronics unveiled the rollable TV ‘LG Signature OLED R.’ Both received the Best Innovation Award in the Video Display category at CES 2020.

[Image source=Yonhap News]

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Some new appliances such as clothing purifiers and dishwashers are also becoming essential home appliances. LG Electronics’ ‘Tromm Styler,’ launched in 2011, sold 450,000 units last year as convenience in clothing care and concerns about fine dust became prominent issues. The Tromm Styler is currently sold in more than 10 countries worldwide, including the United States, Japan, China, and Germany. Samsung Electronics, a latecomer, has recently expressed its intention to enter overseas markets such as the UK and Russia with its AirDresser.

Samsung Electronics and LG Electronics, which entered the domestic dishwasher market last year, also launched new products to target the market. In March last year, LG Electronics released the home dishwasher ‘LG Dios Dishwasher’ equipped with tornado washing blades, TrueSteam, and an inverter DD motor, while Samsung Electronics introduced a Korean-style dishwasher optimized for households of four or fewer in May of the same year.

Unique appliances that stimulate experiences are also a hot topic. Samsung Electronics recently introduced small refrigerators such as the ‘Wine Cube,’ ‘Beer Cube,’ and ‘Beauty Cube,’ which are categorized according to contents, as well as a shoe care device applying the principle of the clothing purifier ‘AirDresser.’ LG Electronics unveiled the beer maker ‘HomeBrew’ last year and introduced a premium plant cultivator this year.