Refrigerators are often among the most expensive household purchases. So why are they so pricey? refrigerator prices vary depending on the size and efficiency of the fridge.
Unit prices also range wildly, with more expensive, larger fridges being worth it for families with lots of food items to keep cold. Additionally, refrigerators that require a lot less running costs are often more expensive to produce, which puts them out of many consumers’ budgets.
With these reasons in mind, it’s good to consider your budget and needs before you purchase a refrigerator. Here are other reasons why refrigerators are so expensive.
Why are refrigerators so expensive?
Research and development:
Manufacturers are constantly coming up with new designs and technology that can make your refrigerator even more efficient and economical to run. However, these costs cannot be passed on to the consumer, but are indirectly affecting the price of a refrigerator.
The more advanced technology used:
There is a lot of technology that goes into making a refrigerator and some of this technology costs quite a bit to have. For example, just one indicator opens the door means many more parts have to be added. This space is taken up by a thermostat (cooling) gauge or thermometer that monitors the cooling capacity and keeps it at an optimal temperature, even in an area with high humidity.
This might sound a little strange but having more advanced and technical refrigerators requires engineers, technicians and other professionals to come in and install them. These pros also need to come look after the refrigerators once they are installed.
Dependency on economies of scale:
In order for a refrigerator business to make an adequate profit they need to be able to sell their product at a fair price. While some companies might not be able to do this, larger companies can because of the mass production that they have going on.
Cost of materials used:
Having a higher quality of materials in your freezer, such as thicker and sturdier plastic, is going to cost you more. This is because these high-quality plastics are more expensive to produce as well as the fact that these plastics are probably used in a smaller quantity than cheaper ones.
Transportation and Logestics:
Having spares in stock and being able to distribute large amounts of fridges has made this a bigger business than it was 50 years ago. This means that there is a lot more refrigerators being transported around the country or even overseas.
American companies like Whirlpool or GE have high-tech facilities for manufacturing fridges in places like the United States and India to get around tariffs on imported goods. The Canadian version of this is Samsung since they have their big plant in Quebec City, Canada.
Other Factors affecting How Much a Refrigerator will Cost
Size and capacity:
Higher capacity refrigerators would cost more than smaller ones. This is because the materials used are higher in quality and it costs more to make them. Also, many of the parts in these larger refrigerators are generally more advanced and higher quality as well.
Standard or High Tech:
High tech refrigerators include things like water dispenser and ice maker. Lower tech refrigerators have a lot less advanced features. depending on the choice you make, you will have a higher or lower quality fridge.
And the most important factor is the cost of production. More advanced and larger refrigerators are more expensive to produce because of the extra parts and technology involved. This can mean that even with these new features, they may still not be worth the price when compared to less expensive units.
More advanced refrigerators are more expensive to produce because they are more technologically advanced. This means there is a lot of extra parts and technology that have to be included in the unit. This can also mean that these newer models will need more skilled technicians and engineers to install them in your home. and the costs add up.
Final Thoughts on why Refrigerators are Pricey
By understanding the reasons why refrigerators are so expensive, you can make your decision for purchasing a refrigerator more confidently.
Often it is important to review your budget and needs in order to know what type of refrigerator you will be buying and at what price. Technology has made our life easier but sometimes we forget how much technology is embedded into this small box we call fridge.
Agnes is a kitchen and cooking enthusiast as well as a fitness fanatic. She loves to help readers upgrade their kitchen with the best available products!