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And in spite of what we are told about the slowing economy, Niemoeller says that the level and buying power of Miele's customers makes the company buffered from economic fluctuations.
"Traditionally, customers in Miele's target market have been relatively immune from economic fluctuations and the current phase of the economic cycle is no exception for Miele", says Niemoeller, adding that, "Whilst demand for the construction of new homes has experienced somewhat of a downturn, an increasing number of customers are upgrading their homes with the latest domestic technology".
Furthermore he notes that when times get tough, consumers tend to stick with brands they trust.
"In toughening overall economic conditions, people tend to head towards the known and trusted brands that have a proven track record. The most successful brands will be those which can offer not only consistently superior product quality, but also a reliable and professionally managed infrastructure in the areas of after-sales service, logistics and general customer support", he says.
And as for what is ‘hot' in the appliance sector nowadays, he notes that "an increasing number of customers avail themselves of the benefits of commercial cooking technology in their domestic kitchen.
"Steam cookers and induction cooktops are two good examples for categories, which currently experience very strong growth on the local market".
