Retailers and appliance manufacturers have been looking for a way to recapture some of the zing generated last year by the government's Energy Star rebate program. The Association of Home Appliance Manufacturers reports that the $300 million stimulus program generated some $1.3 billion in spending on appliances, with unit gains of 9.1%, and encouraged consumers to upgrade to smarter appliances, with energy-saving innovations.
But because they are typically linked to real-estate sales, appliance sales have been languishing. In its most recent quarterly results, announced back in December, Best Buy reported that domestic appliance sales, which account for 5% of its sales, declined 0.1%. (Still, the category fared better than most, with overall comparable-store sales declining 5% in the U.S.)