Current Industry Outlook
Growing but slowing in 2003. Expect rebound in 2H now that war and low consumer confidence behind us
Annual unit growth due to sheer industry size stabilizes – still lots of new units to chase
1st time buyers remain very strong at 38%+ -- lots of new users
Industry consumer quality at all time high and improving
Aggressive competition drives additional industry growth – new competitors, new products, promotion – expect shorter product life cycles and to win with new product
International markets and higher household penetrations remain industry opportunities
Regulatory issues continue but managed appropriately can be growth opportunity
Competitive, Investment Driven
Industry Growth Expected To Continue