I think every American kitchen has one. As for peeling soft foods like peaches and tomatoes, a serrated peeler does the job so easily. Even overripe fruit. I can make a tomato rose with a skin so thin you can see through it.
A paring knife (what Americans call it) is one of the three basic knives advised for the basic kitchen. A serrated bread knife, a chef's knife, (size to suit user) and a paring knife. Some folks buy the Dollar Store special. Five to a package. Toss one when it gets dull. Other folks spend a lot of money on just one. And as most folks in these here parts will testify to, at one time or another, they have accidentally tossed out one with the peelings. I have two mid priced ones in my kitchen. Learned my lesson after tossing out an expensive one.
Yours looks to be mid priced. Some come with blades that are too long for the users hand. Yours looks to be just the right size for any hand. And seriously look into a serrated peeler.
Enjoy your new purchase and make lots of happy foods.
Illegitimi non carborundum!
I don't want my last words to be, "I wish I had spent more time doing housework"