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In the pastOver the years, the domestic home appliance market has grown from small to large, from weak to strong, and has gone through the development process of foreign brands for hundreds of years, and has also entered a mature stage of development with the completion of market popularization. The passion of the high-speed development stage is gone, and what is left is the dullness and resilience of the stock market.
HuatingWritten by
The market is always reincarnated, the product has a life cycle, and it is impossible for one or several to dominate the market forever. Major appliances have a history of more than 50 years since they became popular in China at the end of the last century. Many users' home appliances have gone through many rounds of updates, and now they have entered the extremely mature stage of the market.
From the perspective of market development, entering the mature period means entering the stock market from the incremental market, and what maintains the market heat is product update and iteration. Fortunately, in recent years, intelligent technology has developed rapidly, and many technologies can be used in home appliances, which also maintains the life cycle of traditional home appliances, and traditional home appliances have been able to maintain continuous prosperity.
Entering the period of stock developmentThere is limited room for growth
Any product has a certain life cycle, such as TVs, refrigerators, washing machines, air conditioners and other traditional appliances, after hundreds of years of history in Europe and the United States, has entered a very mature stage. In the domestic market, there has been a period of rapid development for more than 40 years, but it is not as mature as the stage.
Color TV,Aowei cloud network (**c) data shows that in 2023, the retail volume of China's color TV market will be 31.42 million units, a year-on-year decrease of 13.6%, retail sales of 109.8 billion yuan, down 23%。Such a mismatch between volume and price shows that demand is still jumping to high-end and large screens.
Refrigerators, Aowei Cloud Network (**c) pushed the total data, the retail sales of the refrigerator market in 2023 will be 133.3 billion yuan, a year-on-year increase of 70%, and the retail volume was 38.31 million units, a year-on-year increase of 15%。The growth of sales is greater than the growth of volume, which also indicates that the market is transforming to the high-end.
Washing machines, Aowei Cloud Network (**c) announced the washing machine market in 2023, and the omni-channel retail volume of washing machines in 2023 will be 40.05 million units, a year-on-year increase of 34%, retail sales of 93.4 billion yuan, a year-on-year increase of 58%。There is little difference between quantity and amount, indicating that the pace of transformation of washing machines to high-end is relatively fast.
Air conditioning, Aowei cloud network (**c) retail push total data, in 2023, the air conditioning market will achieve retail sales of 211.7 billion yuan, a year-on-year increase of 75%, and the retail volume was 60.85 million units, a year-on-year increase of 65%。Judging from the data of air conditioning, the volume and price are rising, and the increase is relatively large compared to refrigerators and washing machines, after all, air conditioning is the last major appliance to enter the stock development period, especially the underlying market still has some incremental demand.
Data is an objective reflection of the current situation of the industry, in the context of the recovery of the domestic consumer market, household appliances, as an important target of consumption, must be inseparable from the impact of the environment. Home appliances have become a symbol of quality life and have a strong sense of the times. After nearly 50 years of market development, the retention rate is close to the ceiling, and the slight increase and decline shown by the data is very objective, which accurately reflects the current market situation of major appliances.
The reasons for correction varyStop counting on high growth
Judging from the data, in 2023, in addition to the negative growth of color TVs, refrigerators, washing machines, and air conditioners have shown a certain increase, although they have not met industry expectations, growth can always calm the industry mentality. However, this growth is the growth of the epidemic after the low base,Color TV as a consumer electronic product,The characteristic is that on the one hand, market sales are decreasing,On the other hand, the size of TV products is still growing。 Now the average size has reached 65 inches, but considering the cost performance and scene factors, the space for further growth in size is extremely limited. Color TV people now often say,Industry profits are thinner than paper。 Under the diversion of mobile screens,TV has almost lost the momentum to continue to grow,It is already commendable not to shrink significantly。
Refrigerators and washing machines are basically the same, although they are indispensable in quality life, but refrigerators and washing machines are household appliances with physical attributes. As such an extremely mature product, it is impossible to have a big jump in scale, and it is no longer realistic to stabilize and hover slightly on the basis of the current scale, and then try to have high growth in the growth period.
Air conditioning is a special existence in major appliances. Generally, refrigerators, washing machines, and TVs are long-term products, and they hardly show the seasonal highs and lows of the market, while air conditioners have obvious seasonal off-peak seasons. However, it is because of the existence of seasonality that gives the air conditioning market a greater sense of rhythm. From off-season stocking to peak season sales, a set of seasonal operation rules has been formed. At the same time, the air conditioner is sold to users or semi-finished products, which requires professional and technical personnel from the manufacturer to come to install and debug in order to complete the entire sales process. After-sales installation services have increased the space for dealer market operations.
From the perspective of large appliances that have entered the stock development period, the scale is already relatively stable, unless factors such as the epidemic appear, it is not easy to greatly increase and decrease fluctuations. At present, the volume changes between channels are more serious, such as live streaming and social marketing, which divert the volume of many traditional channels. Therefore, the most stressed in the market now are traditional dealers.
However, for major appliances, it has become a necessity for people's quality life. As long as people's normal life exists, as long as people are still pursuing the improvement of the quality of life, everyone's electrical products will always accompany people's lives. Therefore, it is not an exaggeration to be called an eternally sunrise industry.
Of course, on the one hand, major electrical appliances have entered the iteration period from the popularization period, and the era of high growth is gone; On the other hand, it is also constantly iterating with the development of science and technology, and iterative demand can still support the steady development of the industry. As long as you keep up with the times, you can enjoy survival dividends in this industry. Only by accurately grasping the development characteristics of major appliances can we continue to operate them well.
Summary] It is an indisputable fact that major appliances have entered the mature market, and the driving force for their development in the future will be upgrading, and showing the characteristics of high-end and personalized demand. In the future, maintaining market activity will be continuous innovation to stimulate iterative demand, without innovation, the industry, market, and brand will fall silent!
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