The growth rate of integrated cooker industry has slowed down, and a new round of market competition has begun

In the past few years, the integrated cooker has been in the trend of rapid development. Even in 2021, when the environment is under pressure, the integrated cooker will still stand out and become one of the few growth highlights in the kitchen appliances and even home appliances industry.

According to the data of Zhongyikang, from 2015 to 2021, the retail sales of integrated cookers in the market will increase from 4.88 billion yuan to 26.7 billion yuan, with an annual compound growth rate of 32.74%. The retail sales of integrated cookers will increase from 690000 units to 3.21 million units, with an annual compound growth rate of 29.2%, ranking first in all categories of the kitchen electricity industry.

However, since 2022, the integrated cooker industry has encountered downward pressure, and the growth momentum has slowed down sharply. The whole industry has never felt the chill.

According to the data of Ovi Cloud, from January to September 2022, the retail sales of the integrated cooker industry increased by 5.3% year on year, and the retail sales decreased by 1.9% year on year. In the third quarter, the retail volume and retail sales decreased by 3.9% and 1.9% respectively year on year, which further cooled the consumer market.

Specifically, from January to September, the sales volume of the offline integrated cooker industry dropped 8.92% year on year, and the sales volume dropped 5.82% year on year; On the online market, the sales volume dropped 3.91% year on year, and the sales volume rose 10.83% year on year.

It is worth noting that the performance of professional integrated cooker enterprises with highly concentrated main businesses in the first three quarters was poor, and the net profits of three enterprises declined to varying degrees.

According to the public data, except that the net profit of Yitian Intelligent increased by 3.5% year on year in the first three quarters, the net profit of Zhejiang Meida, Martian and Shuaifeng Electric decreased by 17.35%, 19.94% and 17.44% year on year. The double-digit decline sounded an alarm for the industry.

As we all know, integrated stoves are products that are reinstalled and offline. In the first three quarters of this year, the epidemic situation spread in many places across the country. Some cities were affected by the epidemic, and many stores were closed under the influence of the epidemic. The logistics delivery was stopped, which greatly affected the sales of integrated stoves.

It can be seen from the financial reports of the three listed companies of Integrated Kitchen, whose net profits have declined, that when explaining why the net profits have declined, they all mentioned environmental factors such as repeated epidemics, continued downturn in the real estate market, and high raw material prices.

Of course, in addition to macroeconomic environment factors, the intensification of industry competition is also one of the reasons for the decline of net profits of professional integrated cooking stove enterprises.

Now, the "three outstanding kitchen appliances" owners, Fangtai Group and Vantage have all entered the integrated kitchen. Haier, Midea, Wanhe, Wanjiale and other old comprehensive household appliance enterprises have also stepped down, hoping to get a share of this innovative category of integrated stoves.

In June this year, Xiaomi, the "price butcher", also announced that it had officially entered the integrated cooking stove track. It can be said that the race track has become an indisputable fact in the integrated cooker industry. Moreover, the market competition within the industry has become increasingly intense.

First of all, when traditional kitchen appliance head brands and integrated household appliance enterprises enter the integrated stove market, they not only have a clear market positioning, years of professional accumulation, but also have long established brand awareness in the minds of consumers.

Therefore, traditional kitchen head brands and integrated household appliances enterprises have a greater impact on the integrated cooker industry.

In addition, after Internet brands such as Xiaomi have entered the integrated cooker market, they also quickly seize the market share through price competition, and compress the gross profit space to occupy the existing market space of professional integrated cooker brands.

In this regard, many insiders said that kitchen appliances brands, integrated household appliances enterprises, Internet brands and professional integrated cooking stove brands competed on the same stage, which added some highlights and uncertainties to the integrated cooking stove industry.

A new round of competition and reshuffle in the integrated cooker industry is inevitable.

Returning to itself, at present, the integrated cooker still faces shortcomings in channel layout and promotion. At the same time, the product pain points in the process of installation and use and the homogenization caused by low threshold also increase the difficulty for it to occupy more new users.

For example, as an integrated kitchen electrical product, its intelligent control is crucial because more and more functions may be integrated in the later period. Only by making it easier for consumers to operate and bring better experience can it win consumers.

In addition, the installation of integrated cooker is still the direction that needs to be optimized, and after-sales services such as product maintenance and cleaning need to be strengthened.

In a word, a new round of fierce market competition has arrived. Facing the complex and severe environment, enterprises should practice their internal skills. In the end, who can survive well is better than who has better quality brands, flexible response methods and stronger profitability.

As a promising category under the trend of kitchen electricity integration and consumption upgrading, integrated stoves can only release their growth potential more thoroughly by breaking through various bottlenecks and challenges in the development process.