A new day for Maytag?
TEXT OF STORY
SCOTT JAGOW: This week, Home Depot’s gonna give the Maytag repairman something to do.Well, that’s if the new Maytag washing machine breaks down of course. This is the first Maytag product since the company was bought by Whirlpool in March. Ashley Milne-Tyte has more.
ASHLEY MILNE-TYTE: Maytag was a market leader for many years with its solid, reliable washing machines and refrigerators.
But its fortunes began to sink in the ’90s. Retail consultant Wendy Liebman:
WENDY LIEBMAN:“The world of washing machines and dryers and home appliances has changed so much in the last 10 years that I think Maytag sort of got left behind in the rush.”
That was due partly to lack of innovation, according to Mike Deneen of the Fredonia Group. New owner Whirlpool intends to change that, he says. Indeed, they’ll have to, as consumers become increasingly obsessed with technology.
MIKE DENEEN: “As people begin to view appliances more as an electronic good, versus a mechanical nuts and bolts item, that tends to favor companies like LG and Samsung in the appliance industry.”
He says the new washing machine is a lot more high-tech. Its starting price is $1,100.
I’m Ashley Milne-Tyte for Marketplace.
Stories You Might Like
There’s a lot happening in the world. Through it all, Marketplace is here for you.
You rely on Marketplace to break down the world’s events and tell you how it affects you in a fact-based, approachable way. We rely on your financial support to keep making that possible.
Your donation today powers the independent journalism that you rely on. For just $5/month, you can help sustain Marketplace so we can keep reporting on the things that matter to you.
