Shanghai department store| Overview of China's small home appliance market: Policies promote consumption of home appliances, and market demand for small home appliances continues to recover
Shanghai department storeIt is pointed out that household appliances can be divided into white household appliances (mainly including air conditioners, refrigerators and washing machines), black household appliances (mainly including TV sets) and small household appliances。Small appliances can be further subdivided into kitchen small appliances, home small appliances, personal care small appliances, etc。The domestic small home appliance market started late, with many categories, fast iteration and low penetration rate, accompanied by the development of online sales channels。With the increase of residents' disposable income, small household appliances have become a key link to improve residents' quality of life. At the same time, due to the variety of categories and the retail sales of single categories are smaller than those of white electricity, they have a certain long-tail effect.Its small size, no need to install, low price of a single product features to promote the market recognition and demand for small home appliances steady growth。
Small household appliance industry development planning background
In 2024, with the domestic consumption and other related policies continue to increase, especially the relaxation of real estate policies, as the real estate post-cycle industry of household appliances industry, sales performance is expected to enter the improvement channel, in addition to the recovery of the home improvement industry, will also drive certain purchases, consumer confidence is expected to further repair。The "14th Five-Year Plan" proposes that in order to achieve the intelligent system, high-end and green development of the home appliance industry, the National Development and Reform Commission issued the "Measures on restoring and expanding domestic demand" (hereinafter referred to as the "Measures"), and further put forward twenty specific measures for expanding domestic demand。At the same time, home appliance consumption subsidy policies have been introduced across the country, which plays a crucial role in boosting consumer confidence and affecting market demand, and small household appliances such as kitchens are expected to benefit and promote market growth。
Small household appliance industry chain
Small household appliances belong to consumer goods, the past research and development, design, consumption is mainly reflected in Europe, the United States, Japan and other countries。With the increasing advancement of economic globalization and international division of labor, European and American brand owners will focus more energy on market research, product design and brand influence, and continue to migrate development, manufacturing, logistics, etc., to countries with labor advantages。In recent years, with the improvement of China's small household appliances technology level, China has become the world's most important Western-style small household appliances industry base。The upstream of the small household appliance industry chain mainly includes copper, aluminum, stainless steel, electronic components and other raw materials, and the downstream is mainly used for individual and family customers。
Development status of small household appliance industry in China
Shanghai department store said that China has a huge production capacity of electrical products, has become the world's main industrial base of small household appliances, products in addition to meet market demand, but also a large number of exports to other countries abroad。The output of some small household appliances in China has ranked first in the world。At this stage, China has become a big producer of small household appliances, and there are many small household appliances manufacturing enterprises, which are mainly reflected in the Pearl River Delta and Jiangsu and Zhejiang coastal cities。With the improvement of material living standards, the rapid development of consumer concepts, especially in the consumer groups growing up with the Internet, the pursuit of fashion, pay attention to personality and quality, small home appliance market innovation has gradually become an important driving force for development。
Small kitchen appliances are under pressure in the short term, and there is a lot of room for future growth。Under the impact of the epidemic in 2020, the hot sales of the home economy have promoted the rapid increase in the penetration rate of the kitchen small household appliances industry, but at the same time, the follow-up growth is insufficient。However, the average number of small household appliances in China at this stage is still low, the penetration rate of electric ovens and other categories is relatively insufficient, and the kitchen small household appliances industry has great space for development。With the improvement of the consumption level of Chinese residents, there is still a certain development space for such small household appliances。
In terms of price fluctuation of small household appliances in China，Along with China's consumer market continuously improving，In the field of small electrical products，The phenomenon of high elimination rate, fast replacement and serious price competition appears，The field of small household appliances is facing a transformation and upgrading from extensive to fine，Prices in recent years have been driven by a variety of factors, including fluctuating demand and rising costs，The price of small household appliances fluctuates significantly，
Competition status of small household appliances
The market share of the small household appliances industry has further increased, and the CR3 market share in 2021-2023 is 28.6%/29.3%/30.5%。The traditional small household appliance leader Mei Jiusu in the rice cooker, electric pressure cooker, microwave oven, electric kettle and other mature categories of deep cultivation for many years, has formed a relatively strong market share。The concentration of small kitchen appliances industry is high, the competition pattern is stable in the short term, and the CR3 and CR5 market accounts for 61% and 70% in 2023, and the share of bear ranks only the United States and nine Su, ranking fourth。
According to the Shanghai department store，The main businesses of Midea Group Co., Ltd. and its subsidiaries include home air conditioning, central air conditioning, heating and ventilation systems, kitchen appliances, refrigerators, washing machines, various small appliances, robots and automation systems，Midea Group as one of the leading enterprises in the domestic home appliance industry，It has a major market share in the field of small household appliances，In terms of its current operation，Data display，The total revenue of Midea group was 2618 from 2018.200 million yuan grew to 3457 in 2023.0.9 billion yuan, in terms of product structure, HVAC revenue 1506.3.5 billion yuan, accounting for 43.8%, consumer appliances (mainly including refrigerators, washing machines, kitchen appliances and other small appliances) revenue 1,252.8.5 billion yuan, accounting for 36 percent of total revenue.43%。