What is the future development of the kitchen appliance industry?

—— Original title: 20 19 H 1 Analysis of the market status and development trend of China kitchen appliances industry. The comprehensive and intelligent new category will become the new blue ocean. In the first half of 20 19, the kitchen appliance market declined significantly.

After several years of rapid growth, the kitchen appliance market began to slow down. In the first half of 20 19, the retail sales of kitchen appliances market decreased by 9.5% year-on-year, and the categories such as range hoods, gas stoves and disinfection cabinets decreased significantly. In fact, since last year, the kitchen appliance market has entered a "shift period" of growth, and traditional kitchen appliance enterprises have adjusted their business strategies to meet diversified market competition through multi-category, multi-brand and channel sinking.

The kitchen appliance market is generally depressed.

Judging from the performance in the first half of the year, the overall home appliance market has fallen into a downward channel, and the situation in the kitchen appliance industry is not good. The data shows that the retail sales of kitchen appliances in the first half of 20 19 was 281400,000 yuan, down 9.5% year-on-year.

1) Among them, the range hood is the key category in the kitchen and bathroom market. In the first half of 20 19, the scale dropped sharply year-on-year, with retail sales of167.2 billion yuan, down 10.7 percentage points year-on-year; The retail volume was11610.6 million units, down 9.3% year-on-year. In terms of channels, the retail sales in the offline market was 65.438+0.23 billion yuan, down 654.38+03.7% year-on-year; The retail volume was 85 1.5 million units, down 12.9% year-on-year. The retail sales in the online market was 4.42 billion yuan, down1.3% year-on-year; The retail volume was 365,438+006,5438+00,000 units, a slight increase of 2.4% year-on-year.

2017-2019 h1online and offline retail sales statistics of range hoods in China.

Data source: compiled by Prospective Industry Research Institute.

2) In terms of gas stoves, the retail sales reached 9.37 billion yuan, down 6.3% year-on-year. Among them, the retail sales of online channels was 2.68 billion yuan, a year-on-year increase of15%; The retail sales in the offline market was 6.69 billion yuan, down 12.8% year-on-year.

2017-2019 h1online and offline retail sales statistics of national gas stoves

Data source: compiled by Prospective Industry Research Institute.

3) The retail sales of disinfection cabinets was 2.05 billion yuan, down 13.9% year-on-year. Among them, the retail sales of the online market was 8 1 100 million yuan, up 3.8% year-on-year; The retail sales in the offline market was 65.438+0.24 billion yuan, down 22.5% year-on-year.

2017-2019 h1statistics of online and offline retail sales of disinfection cabinets in China.

Data source: compiled by Prospective Industry Research Institute.

Among the emerging categories, the retail sales of embedded kitchen appliances in the first half of the year was 2.88 billion yuan, down10.2% year-on-year; Retail sales reached 4.97 billion yuan, down 65,438+00% year-on-year. Embedded kitchen appliances declined significantly, mainly single-function electric ovens, electric steaming boxes and microwave ovens. The difference is that the dishwasher is still the "darling" of the kitchen appliance market. The retail scale of dishwashers was 3.09 billion yuan, a year-on-year increase of 26%; The retail volume was 646,000 vehicles, a year-on-year increase of 25.7%, and the growth rate was slightly lower than last year. In terms of channels, the retail sales of offline channels reached 65.438+0.89 billion yuan, up 27.0% year-on-year, and the retail volume reached 36.5438+0.8 million units, up 23.9% year-on-year. The retail sales of online channels was 65.438+20 billion yuan, up 24.5% year-on-year, and the retail volume was 328,000 units, up 27.6% year-on-year.

At the same time, dishwashers have the characteristics of high brand concentration, with online TOP 10 brand retail sales accounting for 9 1.3% and offline TOP 10 brand retail sales accounting for 99.4%.

20 19 H 1 Statistics on the retail volume and scale of dishwashers in China.

Data source: compiled by Prospective Industry Research Institute.

In the case of poor overall performance of the kitchen appliance market, brand competition is becoming increasingly fierce and price wars are intensifying. The top brands in the online market seize the low-end market through structural sinking and platform market sinking, thus gaining increment. Many emerging high-end brands are also constantly exploring the low-end market. The competition in the low-end market is fierce, and the head brand share is further diluted. Offline efforts continue to sink the market. From the price segment, the sinking point of the rural market is concentrated in the price segment below 2000 yuan, in which the proportion of retail sales in the price segment below 999 yuan increased by 4.5%, and the price segment from 1000 yuan to 1999 yuan increased by 2.3%.

For the overall decline of the kitchen appliance market, Guo Meide, president of Aowei Cloud Network. Com, that the real estate transactions in the first half of the year were valuable but not marketable, and the new demand and installed household appliances (kitchen and bathroom) continued to slump. In addition, channel differentiation, surge in customer acquisition costs and rising supply chain costs are squeezing corporate profits, resulting in insufficient investment in market expenses and affecting consumption release. Hong Shibin, an industry observer, said that the cooling of the real estate market is one of the reasons for the sluggish performance of the kitchen appliance market. If the new house is not renovated, it is not common for kitchen appliances to replace consumption.

How to break the kitchen appliance enterprises? -The demand for multi-functional, comprehensive and intelligent new categories will become a new blue ocean.

Since last year, the kitchen appliance market has become increasingly difficult to do. Last year, the category of kitchen appliances declined due to the downturn of the real estate market, and the retail sales in the domestic market was 64 billion yuan, down 6.4% year-on-year.

With the kitchen appliance market entering the "shift period" of growth rate, traditional kitchen appliance head enterprises have also been affected by the industry downturn. Taking Boss Electric as an example, the annual revenue reached 7.425 billion yuan, up 5.81%year-on-year; The net profit attributable to shareholders of listed companies was 65.438+0.474 billion yuan, a year-on-year increase of 0.85%; The net profit attributable to shareholders of listed companies after deducting non-recurring gains and losses was 65.438+32.8 billion yuan, down 5.56% year-on-year. Boss Electric's main business is range hood. In 20 18, the operating cost increased by 6.5%, while the operating income only increased by 5%, and the gross profit margin decreased by 1.05%.

Sun Liming, vice president of Tai Fang Group, publicly stated that the domestic kitchen appliance market has entered a "shift period" and cross-border innovations are constantly emerging. Multi-functional, integrated and intelligent new category demand will become the new blue ocean of kitchen appliance industry. Faced with the dilemma of slowing market growth, mainstream kitchen appliances brands are actively building momentum and spare no effort to upgrade products and develop ideas. For example, Tai Fang has innovatively introduced intelligent wind cube range hood, sink dishwasher Q8, concept cooker TCCA and so on. And Boss Electric introduced the fourth generation of new large suction range hood.

Facing the emerging kitchen appliance market, while insisting on developing smoke stoves, kitchen appliance giants have also increased their R&D investment and marketing efforts for new kitchen appliances such as dishwashers, steamers and ovens. Jiang Zeng, CEO of Boss Electrical Appliances Sub-business and CEO of Steaming Division, said that last year, China Steaming Box was established as the second category of the company, and this year will be a year of accelerated steaming box category. In the future, Boss Electric will realize that the category of steamer accounts for 1/3 of the company's income, making steamer the second growth point of the enterprise.

In addition, the channels of the entire kitchen appliance industry have further sunk. There are still many gaps in the kitchen appliance market in China. The share of kitchen appliances in the secondary and tertiary markets is very low, and the development of these markets will inevitably greatly promote the development of kitchen appliances industry. More and more enterprises began to build their own channels and shifted their focus to urban and rural markets.

The data shows that Shuaikang added more than 1500 stores and more than 500 KA channels last year. Boss Electric has also added 68 city companies and 535 new specialty stores in the third and fourth lines. By the end of 20 18, * * * had 65,438 city companies and 3,258 specialty stores. The boss's kitchen appliance brand "fame" takes "being a strong county, doing a pilot project and digging deep into villages and towns" as the core idea, and "focusing on cooking stoves and steadily expanding new categories" as the product promotion model.

Although the growth rate of the kitchen appliance market slowed down with the increase of the base, and there was a negative growth in the first half of this year, it is undeniable that kitchen appliances are still regarded as the industry with the most investment prospects and growth potential, which can also be seen from the continuous entry of cross-border giants into the kitchen appliance field. In March this year, Skyworth Group announced the establishment of Chef Electric Appliance Company to build a full range of kitchen appliances; During the period of 2065 438+09 AWE, Hisense participated in the exhibition with new kitchen appliances, Konka launched the AI90 range hood, Changhong showed the smart kitchen, and TCL also announced that it would accelerate its layout in the field of kitchen appliances.

However, in Hong Shibin's view, although the enterprise's "cross-border" kitchen appliances seem to be in full swing, the kitchen appliances have strong professional attributes and clear brand awareness. The protagonist of the future kitchen appliance market is still a professional kitchen appliance brand.

-For more data sources and analysis, please refer to the Forecast and Analysis Report on Production and Marketing Demand and Investment of Kitchen Appliances Industry in China issued by Prospective Industry Research Institute.