May 2017 Building an IoT-Driven Business: The Whirlpool Corporation Story Regina Salazar CIO, Global Product Organization March 2018 Whirlpool Corporation - Confidential 5.17.17
WHIRLPOOL CORPORATION: WHO WE ARE Leading Brands in Every Region The number one major appliance manufacturer in the world, with approximately $21 billion in annual sales, 92,000 employees and 70 manufacturing and technology research centers in 2017. 2
BEST GLOBAL BRAND PORTFOLIO % of Net Sales Premium (15%) * Mass (75%) Value (10%) Brand Portfolio Targets Over 90% of Consumers, and Includes 7 with More Than $1B in Sales *Whirlpool Corporation ownership of the Hotpoint brand in EMEA and Asia Pacific regions is not affiliated with the Hotpoint brand sold in the Americas. Whirlpool Corporation 3
⃣ ⃣ ⃣ ⃣ ⃣ ⃣ ⃣ ⃣ THE REALITY: CONSUMERS ARE CHANGING ... Brands increasingly serve as mirrors, Consumers increasingly value (and not badges pay for) experiences , giving rise to new technologies like VR/AR Personalization (in messaging, in product) is becoming expected Voice control UI broadly accepted (in under 2 years!) -- over 40M units Attitudes toward privacy are rapidly sold changing, led by Millennials and Centennials Single person households are growing faster than any other Social networks play an increasingly formation type important role in product purchase decisions Global middle class is growing, fast-- adding 1.5B by 2022 Whirlpool Corporation 4
… AND OUTPACING (SOME) … FEWER COMPANIES ARE KEEPING BUSINESSES ... PACE: Average Lifespan of S&P 500 (in years) Source: Standard & Poor’s & Innosight S&P 500 Churn over the Past Decade Whirlpool Corporation 5
HOW WE DEFINE PRODUCT MUST CHANGE... FROM TO: Internally-Centered Human-Centered Products Experiences Whirlpool Corporation - Confidential Global Leadership // November 2017 6
DELIVERING BETTER CARE THROUGH SMART APPLIANCES • Consistent Navigation Across Products Touchscreen • Automatic Updates and Upgrades Learns & Adapts • Proximity Sensor • Interact with Appliances from Mobile Devices Remote Connectivity • Two Way Service Communication Smart App & Scan-to-Cook • Scan Barcodes for Cooking Instructions • “Tell Whirlpool” to Set Mode or Start Timers Voice Control • “Ask Whirlpool” for Remaining Time, Current Temperature or Filter Status with Smart Home Assistants • Hands-free Interaction Removes Complexity Whirlpool Corporation 7
OUR STRATEGY Kitchen: Food Journey - Smart Meal Planning - Inventory Mgmt. - Assisted Cooking Food Journey delivers end-to-end consumer experience in cooking @ home End-to-End Ecosystem Combining Physical + Digital to Create Seamless Experiences Whirlpool Corporation - Confidential
TECHNOLOGY ARCHITECTURE: KEY PRINCIPLES ❏ Security - best-in-class to protect consumer data and Whirlpool IP ❏ Scalable HW and SW Architecture - entry level to premium products ❏ Maximum Reusability - develop once, use many times ❏ Integrate Experience with Connectivity - fully-integrated HMIs ❏ Future Proof - OTA enhancement over life of product ❏ Interoperability - adapt to the evolving ecosystem in home ❏ Platform/Partner Integration - ecosystem generating new revenue streams ❏ Best Total Cost of Ownership with Global Footprint - enabled by global scale ❏ Speedy Cadence of Deployment - ability to quickly develop/deploy new features Flexible modular architecture that can respond faster to changes Whirlpool Corporation - Confidential 9
EXECUTION Requirements Team Colocation Management DevOps Cross Functional/ Regional Team & PMO Frequent “Show & Tell” Steering Committees Technology Architecture Board Digital Product Management Consumer at the center of the experiences we are creating Whirlpool Corporation - Confidential 10
Consumer Electronics Show (CES) 2018: Purposeful Innovation Every feature we innovate, product we develop, and collaboration we enter is inspired by how people care for the ones they love. Whirlpool ™ in 2018 - Easier, Faster, Better New Experiences ● What’s for dinner? Step-by-step guidance ● Assisted cooking (scan to cook/keep warm) ● Yummly™ works with Whirlpool appliances to help New Ways to Connect and Interact families make mealtime easier, better and faster: Scan to Connect ● Today: ● Voice ● Guided Search Vision ● Apple Watch ● Ingredient Search ● ● Recipe Scheduling Expanding the Ecosystem ● On-Demand Ordering Unprecedented reach with our smart ● appliances - over 25 models in 2018: CES: biggest Whirlpool Brand launch ever ● Ingredient Recognition New/Expanded Partners (Energy saving, voice) ● ● Guided Cooking ● Cooking automation with appliance integration ● Status Notifications Whirlpool Corporation - Confidential 11
CES Outcomes Whirlpool ™ wins tier-A share of voice with 37% ● and drives 355MM tier-A impressions. ● Expanded Share of Voice through strong digital activation Achieved #1 Social Share of Voice (78%), a ○ +14 pt. Increase vs. previous year (2017) ● Innovation recognized by third party awards ○ Three CES Honoree awards: Smart Microwave; Stainless Steel Smart Suite; Yummly 2.0 Reviewed.com CES Editors’ Choice Award: ○ Whirlpool Brand Smart Front Control Range ○ Techlicious Best of CES Award: Whirlpool Brand Smart Front Control Range Engadget Best of CES Finalist: Whirlpool ™ + ○ Yummly ™ Whirlpool Corporation - Confidential 12
THANK YOU! JOIN THE CONVERSATION @WhirlpoolCorp #WhatMatters LinkedIn.com/company/Whirlpool-Corporation WhirlpoolCorp.com 13
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