January 09, 2025

Living room economy outdated home appliance business grabs kitchen economy cake

After the policy dividends withdrew, due to the weakening of consumer demand and the face of transformation and upgrading, the industry often used the “slow down” to describe the current home appliance industry.
However, the kitchen power market is in a channel of steady growth: compared with the profit growth rate of color TV companies and the growth rate of white electricity companies' profits are generally less than 20%, kitchen appliances companies are called the high profits of the entire home appliance industry.
The kitchen appliance industry increased its profit in the first half of the year
The kitchen appliance market continues to play high.
According to data released by Zhongyikang recently, in the first half of 2017, the kitchen appliance market reached 47.1 billion yuan, a year-on-year increase of 14.9%, higher than the growth rate of the overall home appliance market. The "2017-2022 China Kitchen Electric Industry Development Prospect Analysis and Development Strategy Research Report", which was written by relevant experts from China Research Institute, predicts that in 2017, the size of China's kitchen and bathroom market will have a potential of nearly 200 billion yuan, which will reach 1924. 100 million yuan, an increase of 8.7%.
The performance of the kitchen appliance market is bright, thanks to the concentrated release of positive factors such as the macro consumption environment, the internal structure of the industry, and the outbreak of emerging category markets.
Since 2016, despite the continuous introduction of the policy of restricting loans, price limits and restrictions on sales, the real estate market remains at a glance, and the total area of ​​residential sales in the country is still rising, which has driven the kitchen electricity market to rise. National Information Center data show that in the first half of this year, the national commercial residential sales area reached 648.91 million square meters, an increase of 13.5%.
Cai Ying, deputy director of the Information Resource Development Department of the National Information Center, said that although the growth rate of the real estate market in the first half of this year was lower than that of the same period last year, it still maintained the momentum of year-on-year growth. The shantytown transformation, new urbanization and the continuous development of the urban economic circle are an obvious positive for the kitchen appliance industry.
In addition, with the continuous development of the social economy, people's living standards and residential environment have undergone tremendous changes, especially the growing size of young emerging consumer groups, middle-class and wealthy families, providing a good opportunity for product structure upgrading.
Jia Dongsheng, general manager of Zhongyikang, believes that the upgrading of market consumption will promote the upgrading of the kitchen appliance product structure to higher-end, and promote the average price of products, which has greatly promoted the steady growth of the kitchen appliance market.
According to Guo Meide, vice president of Aowei Cloud Network, the popularity of kitchen appliances is still relatively low compared to ice, washing, air and color TV products. The market potential has not been fully released, and there is still a relatively large space for development in the kitchen appliance market in the future. .
Zhongyikang predicts that the kitchen appliance market will continue to advance in a high-growth stance in 2017. The annual kitchen appliance market will reach 96.8 billion yuan, a year-on-year increase of 14.4%.
Enterprises rush to eat "kitchen economy" cake
For the kitchen appliance industry, in addition to the macro-consumption environment, the internal structure of the industry, and the emerging category market, the continuous release of the online market has also provided strong support for the stable development of the overall kitchen power market. .
According to Zhongyikang data, in the first half of 2017, the proportion of e-commerce channels in the overall market share of kitchen appliances has reached 23.6%, an increase of 6 percentage points year-on-year. In addition, data from Jingdong showed that from January to August this year, the sales growth of Jingdong kitchen appliances category was as high as 66%.
Some kitchen and electric power companies believe that under the tide of consumption upgrading, adhering to product technology innovation and promoting product structure optimization and adjustment are the most important driving forces for the sustainable and healthy development of the kitchen appliance industry.
On September 20th, Boss Electric released more than 20 new products and central range hoods, including the newly upgraded 4th generation large suction range hood.
According to He Yadong, vice president of Boss Electric, the central range hood is mainly composed of three parts: the main unit, the terminal unit and the cloud backstage. After 4 iterations, the central range hood removes the motor of the terminal. Compared with the traditional range hood, it achieves the advantages of extreme noise reduction, embedded intelligent system and air volume adaptation. On the one hand, it optimizes the noise problem caused by the motor equipment. On the other hand, with the frequency conversion pumping and five-fold purification technology of the central range hood main engine, the maximum effect of indoor soot suction and discharge is completed.
Wang Qiang, the boss of CTO, believes that in the new wave of consumption upgrades, an obvious feature is that the upgrade of the kitchen takes precedence over the living room, and the upgrade of the kitchen appliance takes precedence over other home appliances. Boss Electric has always emphasized the meaning of “cooking” and advocated “innovative layout to enhance user fun and change lifestyle through more intelligent products”.
Shortly after the launch of the new products by Boss Electric Appliances, Haier also launched the IOT's complete kitchen power strategy on September 22. In Haier's view, the kitchen is an important battlefield for smart homes after the “living room economy”. However, most of the so-called smart kitchen appliances on the market just add intelligent modules such as Internet communication technology, and the interaction form is very simple. In the scene of Haier IOT's kitchen appliances, Haier Xin Kitchen Internet Refrigerator has become the control terminal of the whole kitchen. It not only provides smart recipes, audio-visual entertainment, traceable fresh food, etc., but also realizes ovens, hoods and stoves. Linkage control.
The person in charge of Haier Kitchen Electric said that traditional kitchen appliances can no longer meet the needs of consumption upgrades. In the new era, kitchen appliances are not only given to cooking itself, but also to emotional interactions outside of cooking, personalized food appeals, and kitchen socializing.
Brand knockout begins
Compared with the profit growth rate of color TV enterprises and the growth rate of profits of white electric enterprises, which are generally less than 20%, the profit growth rate of kitchen and electric enterprises is 30% to 60%, which makes the whole household appliance industry covet, and the kitchen electric industry is therefore Known as the profitable highland of the entire home appliance industry.
But at the same time, with the increasingly fierce market competition, the "elimination" of the kitchen and electric industry has already begun.
The industry believes that as a high-profit, the kitchen appliance industry has attracted deep involvement of comprehensive home appliance giants and other capital forces, or will usher in a deep reshuffle.
The offline monitoring data of the kitchen appliance industry released by Aowei.com shows that in the first half of 2017, the market share of the TOP10 brand of the range hood was 88.4%, up 1.6% year-on-year. The number of brands of the range hood was reduced by 3%; the gas stove category TOP10 The brand market share was 86.8%, up 1.9% year-on-year. In the same period, the number of gas stove brands decreased by 8%; the TOP10 brand market share of disinfection cabinets was 91.6%, up 2.4% year-on-year, and the number of disinfection cabinet brands decreased by 12%.
According to incomplete statistics, as of 2016, the number of brands in the domestic kitchen appliance market has reached 577, far exceeding the number of brands of home appliances such as washing machines, refrigerators, air conditioners and televisions. At the same time as the market is saturated, the polarization of low-end imitation and high-end innovation is also becoming increasingly prominent.
Looking forward to the kitchen electricity market in the second half of the year, despite the different views, the general public believes that under the background of upgrading consumer demand, improving market policy thresholds and tightening quality control, the competition in the kitchen and electric appliance industry has begun to accelerate, and the industry has shuffled. Intensified, the future industry pattern will continue to refresh.
As the competitive situation of the industry continues to expand, market resources and channels begin to gather in the first-line brands, and small and medium-sized brands will continue to be squeezed. Hong Shibin, executive director of the Marketing Committee of China Household Appliances Business Association, expects that more than half of the brands in the market will be eliminated.

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