Home technology company claims biggest market share

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Premium home technology company Shark has claimed the biggest share of the upright corded vacuum market in the UK for the month of November, just four years after launching a direct sales business in the UK.

Shark had a 42% market share in November 2018 based on value of the total upright market, making it the UK market leader.

In 2015, Shark had a market share of just 4.5% of the total upright market but has seen dramatic growth since then and is continuing to invest in corded uprights and develop new products as it believes there is an ongoing demand in the UK.

Shark has established a distinctive position in the floorcare market with its unique DuoClean® Technology. Last year, it launched a ‘Real People, Real Results’ marketing campaign, focusing on the popularity of its corded upright products, such as the Shark Powered Lift-Away with DuoClean, which transforms into a portable vacuum with the brand’s innovative Powered Lift-Away Technology.  Shark’s Anti-Allergen Complete Seal Technology captures and traps 99.9% of dust and allergens inside the vacuum rather than releasing them back into the air you breathe.*

The company conducts extensive consumer insights research to understand the needs of real people and develops products that put its customers’ lifestyles at the heart of design and engineering, involving consumer panels in their product development. Extensive consumer research and robust consumer testing of products at the development stage ensures that they deserve five-star reviews once they are launched.

Shark, which is the number one floorcare brand in the US and the UK’s fastest-growing vacuum cleaner brand, is investing £150m in the UK, developing products exclusively for the British market and doubling its R & D operation in London. It has chosen the UK as its base to spearheadexpansion into Europe and aims to achieve sales of £500m within three years, more than trebling its current UK revenue. Its engineers are developing new products exclusively for the UK market and the company has a target of achieving 25% of turnover from new products being launched in the next 12 months.

Shark opened a new floor at its R & D hub in Victoria, central London, in November 2018, housing around 100 British engineers. The company has three international hubs in London, Boston and Suzhou, with engineers working collaboratively around the clock in different time zones to allow new products to be developed from concept to completion within months.

SharkNinja European president Matt Broadway said: “We are delighted to have become the UK market leader in corded uprights, almost doubling our market share in less than 12 months. We believe in giving customers a choice of products and all our products are designed to make their lives easier. We see a real opportunity to continue achieving significant growth in the UK market by innovating in corded products and out-innovating our competitors in cordless. We will be moving into other European markets imminently and offering our premium products to customers on the continent for the first time.”

Source: Independent data widely shared by manufacturers in the industry. By common practice, the name of the research company is not quoted publicly. The figures for November 2018 are the most recent available.