Market potential continues to release the kitchen appliance market is expected to break 100 billion yuan
In the first half of this year, the market size reached 47.1 billion yuan, a year-on-year increase of 14.9%.
Since the beginning of this year, the sales of kitchen appliances have continued to grow in double digits. Driven by factors such as the growing consumer power, the continued transformation of industrial transformation and the growth of emerging categories, the development of the “kitchen economy†is remarkable. Experts predict that as kitchen electric escalation of the internal structure of industrial and emerging market category outbreak, kitchen electric market is expected to RMB 100 scale, the home appliance industry has become another pillar industries.
On August 24th, the “2017 China Kitchen Power Summit Forum†held in Beijing reported that this year, the kitchen appliance market continued to grow in double digits. Driven by factors such as the growing consumer power, the continuous transformation of industrial transformation and the growth of emerging categories, the curtain of the “kitchen economy†is slowly unfolding. Xu Dongsheng, vice chairman of the China Household Electrical Appliances Association, said that with the continuous upgrading of the internal structure of the kitchen appliance industry and the outbreak of emerging category markets, the kitchen appliance market is expected to exceed 100 billion yuan and become another pillar industry in China's home appliance industry.
The kitchen appliance market is growing rapidly
The forum is sponsored by China Household Electrical Appliances Association and the Information Resource Development Department of the National Information Center, hosted by China National Grid , Haier, Midea, Bosch Home Appliances, Siemens Home Appliances, Fangtai, Boss, Linne, Vantage and other domestic and international mainstream kitchen appliances and Jingdong Home Appliances. The representatives of the channel dealers gathered together to discuss the development trend of the industry around the theme of “Intellecting the Future – New Opportunities in the Big Kitchen Economy Eraâ€.
According to the monitoring data from Zhongyikang, in the first half of this year, the kitchen power market reached 47.1 billion yuan, a year-on-year increase of 14.9%, higher than the overall growth level of the home appliance market. Cai Ying, deputy director of the Information Resource Development Department of the National Information Center, said that although the growth rate of the real estate market in the first half of this year was lower than that of the same period last year, it still maintained the momentum of year-on-year growth. The transformation of shantytowns, new urbanization and the continuous expansion of the urban economic circle are a huge positive for the kitchen appliance industry.
Jia Dongsheng, general manager of Zhongyikang, believes that the upgrading of market consumption will promote the upgrading of the kitchen appliance product structure to higher-end, and promote the average price of products, which has greatly promoted the steady growth of the kitchen appliance market.
The PRC offline monthly retail monitoring data show that the first half of 2017 to improve the range hood market average of 10.0% year on year, more than 4,000 yuan suction hood retail volume varying degrees of growth; embedded oven market price The year-on-year increase of 5.0%, the retail sales of products above 8,000 yuan increased steadily; the retail market share of exhaust hoods with a volume of 17 or above was 46.2%, a year-on-year increase of 5.5%, and the market share of retail sales was 55.1%, an increase of 5.0%; embedded The market share of the first-grade energy efficiency products of the gas stoves was 23.9%, an increase of 11.2 percentage points year-on-year.
At the same time, the emerging kitchen appliances represented by dishwashers , electric ovens and steam ovens are growing strongly. In the first half of the year, the retail sales of dishwashers was 1.83 billion yuan, up 134.6% year-on-year; the retail sales of steam ovens was 1.22 billion yuan, up 47.5% year-on-year; the retail sales of electric ovens reached 2.7 billion yuan, up 18.3% year-on-year.
The continuous development of the online market has also provided strong support for the stable development of the overall kitchen power market. Zhongyikang data shows that in the first half of the year, the retail sales of the online kitchen appliance market reached 11.12 billion yuan, a year-on-year increase of 53.6%; the proportion of e-commerce channels in the overall market share of kitchen appliances has reached 23.6%, an increase of 6 percentage points year-on-year. In addition, Jingdong appliance data shows that from January to August this year, Jingdong kitchen and electric appliance sales growth rate as high as 66%.
According to Zhongyikang's forecast, under the influence of many favorable factors, the scale of the kitchen electric appliance market in 2017 is expected to exceed 100 billion yuan, a year-on-year increase of nearly 15%.
Market potential continues to be released
According to Guo Meide, vice president of Aowei Cloud Network , the popularity of kitchen appliances is still relatively low compared to refrigerators , washing machines , air conditioners and color TV products. The market potential has not yet been fully released, and there is still a relatively large room for development in the kitchen appliance market in the future.
　　 The kitchen and bathroom products are closely related to the cabinets and home improvement fields. The combination of cabinets, home improvement and real estate developers has become one of the important strategies for kitchen appliances to expand their markets. Vantage has signed four strategic customers including Greenland and China Merchants Property and three Internet home improvement channel platforms. Linne and Ou Pai reached a strategic cooperation to accelerate the integration of kitchen and bathroom. Home appliances such as bosses, Fangtai, and Midea are also vigorously expanding innovative channels such as cabinets and home improvement.
Cai Xiaojun, deputy general manager of Vantage Marketing Headquarters, revealed that Vantage and many kitchen and electric appliance companies are stepping up their efforts to deepen the channels and actively explore the potential of the third- and fourth-tier markets and the county market.
According to reports, in the rural market, the traditional kitchen electric range hood category has only 15 units per 100 households. At present, the growth rate of the third- and fourth-line markets has been significantly higher than that of the first- and second-tier markets. With the continued urbanization and consumption upgrades, the third- and fourth-tier markets will bring huge popularity and incremental space.
Xia Weidong, director of the Kitchen Electric Trading Department of Jingdong Home Appliances Division, said that the rapid growth of kitchen electricity in the e-commerce channel will continue. On the one hand, more and more consumers are willing to buy kitchen appliances online, and the online product structure is constantly upgrading to high-end. On the other hand, the overall scale of the kitchen appliance market is expanding, and the advantages of e-commerce channels in the introduction of new categories have led to explosive growth in the emerging kitchen appliances category represented by dishwashers, plus more e-commerce platforms. Point marketing layout and accelerating the e-commerce of kitchen appliances and home appliances will support the rapid development of the online kitchen appliance market.
Product upgrade momentum is strong
The representative of the kitchen appliance company attending the meeting believed that under the tide of consumption upgrading, adhering to product technology innovation and promoting product structure optimization and adjustment is the most important driving force for the sustainable and healthy development of the kitchen appliance industry.
“Changes in eating habits have placed new demands on Chinese home kitchens and kitchen appliances.†Wang Weiqing, vice president and chief sales officer of Bosi Household Appliances (China) Co., Ltd., believes that the kitchen is no longer just a place for simple cooking. The kitchen appliances in Chinese kitchens must be "both Chinese and Western", not only for cooking Chinese food, but also for Western food, to meet the increasingly diverse dietary habits of Chinese people.
In the docking market demand for product innovation, kitchen and electric power companies have achieved many new results. For example, the Siemens iQ700 embedded oven with core technology such as 4D hot air technology and precision probes can accurately roast Western-style pizzas and perfectly bake Chinese dim sum by means of uniform heat distribution and accurate baking time control. Boss electric appliance fourth generation large suction range hood, equipped with 7-inch high-definition color screen, wind size, massive recipes clearly appear, equipped with ROKI intelligent cooking system can achieve intelligent induction, smoke stove linkage; Haier anti-dry three-head stove special intelligent anti-dry Burning technology, once it encounters dry burning, it can turn off the fire and cut off the gas in time to avoid the danger, and bring the intimate guardian to the consumers; Wanjiale "mate3 Zhilian cooking" gas stove, to achieve 10 firepower precision control, from the traditional "big, medium "Small three-speed adjustment" turned into "precision firepower digital display."
In addition, with the deepening of kitchen integration, a number of embedded kitchen appliances that are more suitable for Chinese household consumption demand are on the market. The integrated kitchen for cabinets and kitchen appliances is designed to be more and more popular with consumers with clean and beautiful features, powerful functions, one-stop shopping and simple installation.
In order to guide the technological innovation and industrial upgrading of China's kitchen electric industry, the China Household Electrical Appliances Association is actively promoting the formulation of the “Guidelines for Common Sizes and Installation and Configuration of Household Kitchen Appliancesâ€. The guide will form guidance on product safety, main performance, water and electricity access, size, etc., reducing unnecessary energy consumption in the design-related aspects of similar products, and reducing the installation and space of kitchen appliances through modular docking. Inconvenient in planning and other aspects, while promoting personalized design, the product design of kitchen appliances has rules to follow, reflecting the normative development of the industry. In addition, China Household Electrical Appliances Association will continue to promote technological advancement and transformation and upgrading of the kitchen electric industry by conducting technical exchanges within and across industries.
“The kitchen is becoming a new social center for modern family life. Cooking and emotion, food and social integration are organically integrated.†Lu Shenghua, editor-in-chief of China National Grid, said that the kitchen economy is centered on diversification, high-end and intelligent transformation. The curtain is slowly unfolding. With the further enrichment of kitchen appliances, product upgrading and improvement of living conditions, the new kitchen economy is gradually becoming a new engine for the continuous development of China's home appliance industry.
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