This may be the end of an era. The opening of a new era may be only a temporary downturn, and the future will still turn heads. In either case, in the first half of 2018, for the traditional kitchen appliances (only hoods, gas stoves, disinfection cabinets) industry, after decades of growth, it ushered in the first decline in sales.

From the perspective of macro environment, the continuous regulation of the real estate market has caused the related industries to encounter development crisis; from the micro-environment point of view, the closure of upstream enterprises in the home improvement industry chain and the promotion of fine decoration and full decoration policies have put pressure on the terminal retail market.

As such, the kitchen appliance industry in the first half of 2018 ushered in negative growth for the first time. Avi Cloud (AVC) omni-channel data shows that the retail sales of kitchen appliances in the first half of 2018 was 311 yuan, down 1.6% year-on-year. Specifically, the retail sales of range hoods was 18.72 billion yuan, down 3.0% year-on-year, and the retail volume was 12.807 million units, down 3.4% year-on-year; the retail sales of gas stoves was 10 billion yuan, up 0.9% year-on-year. It was 1.502 million units, up 1.7% year-on-year; the retail sales of disinfection cabinets was 2.38 billion yuan, down 1.3% year-on-year, and the retail volume was 2.658 million units, down 1.0% year-on-year.

On-line and offline, the retail sales of range hoods was about 4.5 billion yuan, up 18.4% year-on-year. The offline retail sales were 14.2 billion yuan, down 8.4% year-on-year; the retail sales of gas stoves was about 2.3 billion yuan. , an increase of 9.5% year-on-year, offline retail sales of 7.7 billion yuan, down 1.3% year-on-year; disinfection online retail sales of 800 million yuan, an increase of 14.3%, offline retail sales of 1.6 billion yuan, down year-on-year 5.9%.

From the perspective of the semi-annual overall market, the performance of the kitchen appliance market in the first quarter was more difficult than before. The overall market in April and May has recovered. Although there was a big promotion of 6.18 in June, the overall market was weak again. This also caused a decline in the overall market in the first half of the year.

Consumption structure upgrade promotes upgrading of kitchen electricity industry

Judging from the development cycle of the industry, the traditional kitchen electric appliance industry has gradually developed into the direction of “popularization + replacement” after experiencing decades of rapid growth in medium and high speed. At this stage, market competition has increased and industry reshuffle has accelerated.

From the data point of view, Avi Cloud (AVC) monitoring data shows that the online market hood retail sales share rose from 23.9% in 2015 to 27.7% in the first half of 2018, and the share of gas stove retail sales from 30.5 in 2015. % rose to 32.9% in the first half of 2018, while the share of retail sales of kitchen appliances fell from 31.4% in 2015 to 23.9% in the first half of 2018. It can be seen that the retail share of online kitchen appliances packages has further declined, while the share of retail sales of single-products such as range hoods has continued to rise, indicating that the demand for market replacements is increasing, and these demand are basically concentrated in the urban market.

From the trend of the number of households in the range hood, the number of households in the town hood has increased from 66.1 in 2013 to 71.5 in 2016. The number of household hoods has increased from 12.4 in 2013 to 2016. 18.4 units.

Obviously, from the perspective of the urban market, the future replacement demand will be the main growth point. In the rural market, due to residential conditions, supporting facilities and other issues, the popularity of kitchen appliances is still low, and the rural areas are wide and the population density is low. The popularity of kitchen appliances. However, with the promotion of the national urbanization policy, the popularization rate in rural areas will gradually increase and become an important driving force for the sustainable development of the kitchen electric industry.

From the performance of the brand, the growth rate of traditional kitchen appliances has slowed down significantly and even brought negative growth. Kitchen appliances and dishwasher. This is the case. Since the second half of 2017, major brands have gradually adjusted their strategies. On the one hand, they have extended their original product lines, and on the other hand, they have introduced new categories. For example, gas water heaters and water purification products have been introduced. After the introduction of the water heater in 2017, the company launched a water purification product in 2018. In addition, Boss Electric and the integrated stove enterprise Jindi reached a strategic cooperation, the United States once again optimized the kitchen appliances and water heaters division.

On the other hand, affected by the comprehensive factor, the entire first half of the year, the kitchen appliance industry closed down again, without core competitiveness, the edge of the ball, brand-name brand, workshop-style enterprises and some small brands have withdrawn from the industry. At the same time, with the weak growth of the terminal market, the inventory of agents is also high, and the commercial inventory of the entire industry is high.

Another obvious change in the first half of the year is that the phenomenon of terminal “new package” sales is becoming more and more obvious. Compared with the traditional three-piece set of smoke stoves and smoke stoves, the biggest change in the sales of terminal packages in the first half of 2018 is from the traditional two-piece and three-piece sets to the heat of the smoke stove, the stove of the smoke stove, and the heat of the smoke stove. The water purifier, the smoke stove embedded micro-steaming and other sets of development. At the same time, in order to cater to new consumer demand, the way of scene marketing is more and more common, and some brands even tailor the home decoration scene for consumers to choose products.

The main reason for these changes is driven by consumption upgrades. Consumption upgrades not only change the original channel structure and product structure, but also slowly affect the upstream and downstream of the entire industry chain. They not only need high value, individuality, and intelligence. Products, they also need to match the service and consumption scenarios and so on. In other words, consumption upgrades are changing the attributes of existing products, requiring companies to keep up with the times and empower new products.

High-value, high-performance products are popular in the market

In terms of products, the range hoods are distinguished by style. The near-suction range hoods are stylish and easy to clean. The major brands have a distinctive design style, which is more and more popular among consumers. The online share is more than half, and it continues to rise. Since the offline market has experienced high growth in the first half of 2017, the tower-type hood has gradually declined. The decline in demand in the first-line market has led to a decline in the share of high-end products in the overall market. Due to serious product homogeneity and difficulty in cleaning, the T-type machine continued to decline in the market share of the two lines. The mainstream brands are not developed as key categories, and there are fewer high-end positioning products.

From the data point of view, Aowei Cloud Network (AVC) monitoring data shows that the online near-suction range hood retail sales share increased from 52.0% in the first half of 2017. 54.5% in the first half of 2018, online retail The share increased from 41.4% in the first half of 2017 to 44.0% in the first half of 2018.

From a functional point of view, the large exhaust air volume and large wind pressure of the range hood have begun to become the trend of the whole industry. In the first half of 2018, following the German-Italian launch of the 820pa super-large wind pressure hood, Fang Tai also launched a new product with the same high wind pressure. According to the monitoring data of Aowei Cloud Network (AVC), the online hood market, the near-suction range hood retail sales share of 18m3/min increased from 9.5% in 2017 to 23.0% in the first half of 2018. The retail share of T-type range hoods with suction volume in the 18m3/min segment increased from 34.8% in 2017 to 41.4% in the first half of 2018, although the share of tower-type hood retail sales in the 18m3/min segment was The decline in the retail sales of tower-type hoods with a suction volume of 19m3/min increased from 14.6% in the first half of 2017 to 29.7% in 2018. It can be seen that in the online market, the suction volume is developing from the previous 17m3/min to the 18m3/min and 19m3/min segments. In addition, the share of the range hood with self-cleaning function continues to rise.

In the offline market, the sales volume of suction in the near-suction range hood was the most obvious in the 19m3/min and 20m3/min segments, and the retail share of the 19m3/min range hood rose from 28.1% in the first half of 2017 to 2018. In the first half of the year, 31.5%, the retail sales of the 20m3/min range hood increased from 15.4% in the first half of 2017 to 23.1% in the first half of 2018; in the tower hood, the suction volume was in the 20m3/min segment and The above-mentioned increase in retail sales share is also obvious, with the retail sales share of the 21+m3/min range hood reaching 13.9%. It is worth mentioning that the retail sales of hoods with WIFI function for offline hoods increased slightly.

In terms of gas stoves, the online market and embedded double-eye stoves are still the mainstream. In the first half of 2018, the proportion of retail sales reached 95.4%. In addition, the retail share of multi-eye stoves and induction cooktops has also increased significantly. The retail sales of electromagnetic cookers reached 2.5%, up 0.5% year-on-year. The share of retail sales of heat-distributing flow increased, and the share of retail sales of gas stoves of 4.2KW and above increased significantly. It is not difficult to find that large firepower has become a trend and has evolved into an increasingly large trend. In terms of materials, the retail sales of glass panel gas stoves reached 84.7%, an increase of 5.4% year-on-year.

In the offline market, the retail share of embedded double-eye stoves reached 97.3%, of which the sales of electromagnetic cookers accounted for only 1.1%, compared with last year, there was almost no change. In terms of the share of retail sales of heat flow, the share of retail sales of 4.2KW heat flow reached 33.6%, which jumped to the top of the market, and the share of large firepower products increased significantly. In terms of materials, the retail sales of glass panel gas stoves reached 78.4%, an increase of 7.6%.

In terms of disinfection cabinets, the share of vertical products in the online large-scale segment has increased significantly. The share of retail sales of 100 liters and above in the online market vertical sterilizer has increased from 14.7% in the first half of 2017 to 20.9% in the first half of 2018. The share of retail sales of embedded sterilizers of 100 liters and above fell from 45.5% in the first half of 2017 to 39.6% in the first half of 2018. In the offline disinfection cabinet market, the product structure is relatively stable.

Terminal retail down engineering channel up

In terms of channels, the online kitchen appliance market continued to grow in the first half of 2018. Avi Cloud (AVC) monitoring data showed that online kitchen retail sales share increased by 16.1% year-on-year, and retail sales accounted for 24.4%. The year-on-year increase was 3.8 percentage points, but compared with the same period last year, the growth rate slowed down noticeably.

In terms of offline channels, major retail channels lost all the way. Avi Cloud (AVC) monitoring data showed that retail sales of large chain channels fell by 10.2% year-on-year, retail sales of department stores decreased by 7.7% year-on-year, and retail sales of supermarket channels declined year-on-year. 12.6%, other household appliances channels fell by 9.6% year-on-year.

From the perspective of all levels of market, the markets at all levels have also experienced different levels of decline. According to the monitoring data of Avi Cloud (AVC), the retail sales of traditional kitchen appliances in the primary market fell 12.4% year-on-year in the first half of 2018, the retail sales in the secondary market fell 8.8% year-on-year, and the retail sales in the tertiary market fell 7.2% year-on-year. The retail sales of the fourth and fifth grades fell by 3.3% year-on-year.

From the perspective of the development of the entire channel, the role of “e-commerce” is changing. The e-commerce giants headed by Ali and JD have extended their reach to the offline in the past few years. They have gradually built new retail sales by integrating offline resources. mode.

Although the offline retail terminals have experienced different degrees of decline in various levels of markets and major channels, the project and home improvement channels have experienced different degrees of increase, especially in the engineering channels of big brands. increase. As for the home improvement channel, the full decoration brand and the Internet home improvement brand began to rise, and the upstream business of the home improvement industry chain has become increasingly serious, and the downward trend of the industry chain is significant.

From the perspective of channel development in the second half of 2018, Aowei Cloud Network (AVC) believes that online retail channels, engineering channels and Internet home improvement channels will grow to varying degrees, while traditional big chains, landmark stores, specialty stores, Supermarket channels and so on will continue to decline.

Although the traditional kitchen power channel has declined in the first half of 2018, from the perspective of future development trends, potential replacement demand, new demands brought about by consumption upgrades (embedded micro-steamed, dishwasher, integrated stove, etc.) and four The popularization of the five-tier market is likely to drive the industry to continue to grow. Aowei Cloud Network (AVC) also predicts that the retail sales of kitchen appliances will reach 69.3 billion yuan in 2018, a slight increase of 1.3%.

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