Europe Home Appliances—Card Insights: US volumes continue to recover in June; pricing yet to meaningfully inflect

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Europe Home Appliances—Card Insights: US volumes continue to recover in June; pricing yet to meaningfully inflect

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02 Jul 2026 04:39:36 ET │ 13 pages

Europe Home Appliances—Card

Insights

US volumes continue to recover in June; pricing yet to meaningfully

inflect Martin Wilkie AC

+44-207-986-4077

martin.wilkie@citi.com

CITI'S TAKE

Avinash Mundhra

US transaction numbers within our card data, our proxy for volume, were up +44-20-7986-6230

c.2% YoY for the four weeks ending 27th Jun, following double-digit YoY % avinash.mundhra@citi.com

declines for most of Q1’26 – this may suggest that the volume trough has

passed. Spend per transaction, our proxy for price/mix, is up around 0.9% Vivek Midha, CFA

YoY for four weeks ending 27th Jun, vs ~+2% YTD, showing no significant +44-20-7500-0732

change. At our recent meeting with Electrolux management (here), while no vivek.midha@citi.com

comment was made specifically on Q2, US price increases had been

announced at the time, initially through lower discounting, and ultimately Klas Bergelind

planned through higher list prices. At a sell-out level (vs. sell-in) this is not +44-20-7986-4018

yet visible in our June data, and we’d hope to see this into Q3. The volume klas.bergelind@citi.com

improvement however should be seen as encouraging after a very weak first

quarter for the industry. Siron Ng

siron.ng@citi.com

General Description — Card Insights represent a selected subset of Citi’s credit card

transactions and are not representative of Citi’s overall credit cardholder population.

The data is highly aggregated, anonymized and should be considered in the context

of other economic indicators and publicly available information. All cards included

within Card Insights comprise a panel of more than 10 million US cardholders.