In the first half of 2022, the overall household appliance market was depressed, but it still remained a bright spot
In the first half of 2022, the household appliance market as a whole was cold, and most categories fell. However, the development of emerging categories remained strong, rising against the trend, and the consumption upgrading trend of the overall household appliance market continued, with new market opportunities.
In the first half of the year, the performance of emerging household appliances was better than that of the overall household appliances. Clothes dryers, integrated stoves, dishwashers and cleaning appliances still maintained a growth trend, and the trend of high-end, integration, scene and intelligence was obvious. According to the total data pushed by AVC, in the first half of 2022, the retail sales of home appliance market reached 338.9 billion yuan, a year-on-year decrease of 9.3 percentage points, and the retail sales of clothes dryers of emerging home appliances reached 3.3 billion yuan, a year-on-year increase of 31.3%; The retail sales of integrated stoves reached 12.4 billion yuan, an increase of 9.6% year-on-year; The retail sales of dishwashers was 5.2 billion yuan, an increase of 11.4% year-on-year, and the sales of cleaning appliances was 14.6 billion yuan, an increase of 7.0% year-on-year.
Emerging household appliances perform well
For the performance of the home appliance market in the first half of 2022, Guo Meide, President of ovicloud, made an overall summary from the perspective of the industry. He pointed out that the external environment of the home appliance market continued to deteriorate, and the lack of consumer demand and confidence led to the decline of China's overall home appliance market. However, under the sluggish market environment, emerging home appliance categories still maintained a counter trend, and under the main trend of "user consumption upgrading", high-end and quality have been steadily advancing.
Chen Hao, vice president of sales & service of fotai group, pointed out that although the overall household appliance market was depressed in the first half of 2022, the kitchen appliance market performed better than the overall household appliance market, and showed a high-end, integrated, healthy, intelligent and technological development trend. Kitchen electrical products have developed from the traditional three piece set of smoke stoves to more subdivided and improved emerging categories such as integrated cooking center, dishwasher, embedded steaming and baking. The sales of kitchen electrical industry has also entered the scene stage, and the consumption trend of new demand and new scene has gradually formed.
As the enterprise representative of emerging household appliances, Cheng Fei, vice president of stone technology, said that although the household appliance industry as a whole was impacted by the epidemic in the first half of the year and the market growth slowed down, clean appliances, as a dark horse in the industry, still showed strong toughness, and the market trend of high-end consumption was significant, the proportion of high-end and high-priced products was significantly increased, and enjoyable consumption became an important driving force for market growth; The consumption scene of high-end products has significantly shifted to online, the proportion of sales has increased significantly, and the year-on-year growth rate is much higher than offline.
In the first half of the year, due to the high installation attribute, the integrated stove market was greatly affected by the epidemic and other factors. Although the market performance did not meet expectations, it was far ahead of the household appliance market. Li Zhi, director of the market center of Martian kitchen utensils Co., Ltd., pointed out that in the first half of 2022, the integrated stove industry has reached a new threshold of industrial chain value leap, and high-end, integrated, intelligent, healthy and nested have become the inevitable trend of innovation and upgrading, and the market has also moved towards an integrated kitchen with multiple functions and experience of high efficiency and collaboration.
In the first half of 2022, although there was no new trend opportunity in the whole household appliance market, the trend formed in the previous two years continued. Lu Shenghua, editor in chief of household appliance network, analyzed that, for example, new categories of products such as floor washers, dishwashers, clothes dryers and integrated stoves, which outperformed the market, developed against the trend; Some new market opportunities are also brewing in the segment circuit; Nested products continue to receive market attention and become a powerful tool to seize the stock market.
In the first half of the year, China's economic development faced triple pressures, such as shrinking demand, supply shocks, and weakening expectations. The household appliance industry also existed, and with the slowdown in the growth rate of the household appliance industry, consumption pressure was obvious. For such a market environment, Qiu Jiangyong, deputy editor in chief of electronic daily, stressed that opportunities and challenges always coexist. As an important support for traditional consumption, China's household appliance industry has not changed its fundamentals of strong resilience and long-term improvement.
Obvious growth engine in the second half of the year
In the first half of the year, the fragmentation of channels in the household appliance industry further intensified. After years of development, the traffic entrance in the household appliance market has risen to the strategic height of the industry, prompting the household appliance market to change from "channel driven" to "user driven". As for the changes in the market, Guo Meide pointed out that in the face of the changes in user needs, enterprises should directly face the consumption upgrading of users, occupy the minds of users, pay high attention to the real needs of users, stimulate the needs of users under the iceberg and stimulate the release. At the same time, open traffic portals on various platforms, understand the characteristics of various grass platforms, do a good job in the transformation of users from "private domain" to "heart domain", activate the market, and achieve better brand transformation.
Chen Hao, vice president of sales & service of Fangtai group, also pointed out that the home appliance market has not disappeared, but is developing towards diversification and high-end. Starting with demand and driven by products, we should find a growth rate and create new growth in the environment of declining traffic. In the second half of the year, Fangtai will also continue to deepen its efforts in product innovation, channel innovation and marketing innovation, leading the reform of the kitchen electricity industry.
With the gradual liberalization of epidemic control in some regions and the promotion of consumption promotion policies, the consumer demand accumulated in the early stage is expected to be released in succession, driving the further growth and expansion of the industry. Cheng Fei said that in the second half of the year, enterprises can consider strengthening independent technology research and development, improving the scientific and technological power of products, maintaining the sensitivity of consumer insight, accurately positioning target groups and their consumption scenarios, and strengthening online marketing means to create differentiated competitive advantages and create the second growth curve of brands.
Li Zhi also said that in the face of the current changes in the market environment, enterprises need to work hard on brand power, channel power, and product power, deeply cultivate brand construction, multi-channel collaborative development, product re innovation, constantly improve, and build core competitiveness.
In the face of the current changes in the home appliance market environment, Lu Shenghua suggested that enterprises should pay more attention to the external environment, and the epidemic situation will stabilize and improve, which will bring about the improvement of the demand side market environment; On the other hand, we should adhere to the investment based on the future sustainable development goals, focusing on product research and development and digital intelligence transformation.
Qiu Jiangyong also pointed out that with the introduction of household appliance consumption stimulus policies across the country, how industries and enterprises can take advantage of the policy of green smart appliances to the countryside and trade in, and how to make efforts in the direction of continuous upgrading of product structure and high-quality supply of traditional household appliances will be the biggest focus in the second half of the year.
In the first half of 2022, the home appliance market continued to be under pressure, and the channel structure also experienced differentiation again. However, the market highlights remained, the overall upgrading trend of the market also continued, and high-end, quality and integration gained high growth momentum. In the second half of the year, the home appliance market passed through the "darkest hour", the external environment was significantly improved, and the outbreak of the epidemic was still uncertain, but the impact was weakened. Various demand incentives and subsidy policies are expected to have a positive impact, and the market is expected to have a trend of "low before high".
