A new round of consumption upgrades, smart home appliances are very popular

The China Household Appliances Industry Information Center recently released the '2018 China Household Appliances Industry Third Quarter Report' (hereinafter referred to as the 'Report'). The report shows that the overall scale of China's home appliance market in the third quarter was 182.1 billion yuan, down 5.6% year-on-year. Major appliances such as black and white appliances, kitchen and bathroom appliances all declined to varying degrees. The retail sales of air conditioners fell by 8.7% year-on-year, ice washing fell by 2.2.% year-on-year, kitchen and bathroom appliances fell by 4.9% year-on-year, and color TVs fell by 18.3% year-on-year. Correspondingly, the category of household electrical appliances saw a substantial increase, reaching 14.8% year-on-year. For consumers, smart home appliances have become a symbol of quality life. 'Although the overall situation is not optimistic, the trend of consumption upgrading has not changed. People's consumption needs are expanding, and new personalized consumption needs are constantly being formed. At the same time, the market competition will be more intense in the future, and new requirements and Challenge.' Ge Fengliang, vice president of China Household Electrical Appliances Research Institute, told reporters. Zhang Xin, director of the comprehensive business department of the China National Light Industry Federation, said that my country is a big home appliance producer as well as a big home appliance consumer. Although the performance of the home appliance market in the third quarter showed a situation that has not appeared in recent years, the role of the domestic consumer market as a stabilizer and ballast stone for economic development has become more prominent. Affected by multiple unfavorable factors such as real estate, climate, and flat demand, the overall sales of the home appliance market and the trend of each sub-category in the third quarter of 2018 showed increased pressure. There is no sign of loosening the national real estate macro-control and purchase restrictions as a whole, and the delivery of commercial housing is lower than expected, which has a limited ability to drive the home appliance market. Due to the large number of promotional nodes in the first half of the year, some of the demand in the third quarter was overdrawn, while the two promotional nodes in the second half of the year, 'National Day' and 'Double Eleven', were both in the fourth quarter, and some consumers chose to suspend purchases, which led to the third quarter. slump in consumer demand. The report shows that in the third quarter, the online market size of home appliances reached 61.5 billion yuan, a year-on-year increase of 15.4%. Except for color TVs, the online market of all types of home appliances is showing a positive growth trend. The offline market failed to continue the steady trend in the first half of the year, with a decline of 13.6%, and all categories showed a downward trend. However, the status of offline channels as the main support for the home appliance market has not changed. At present, the overall proportion of the offline home wire market is still as high as 66%. At present, China's retail industry is going through the third revolution, that is, smart retail that connects online and offline. The report believes that only online and offline linkages can promote the continuous and steady development of the entire home appliance industry. Therefore, retailers with omni-channels will have more obvious advantages. Taking air conditioners as an example, their reliance on omni-channel platforms has greatly increased. From January to September 2018, the year-on-year growth rate of the air conditioner market was 10.2%, but the sales of air conditioners in Suning maintained a rapid growth of 37%. The home appliance market has been under pressure this year. The report believes that although there will be more promotional nodes in the fourth quarter, it cannot change the situation that consumer demand is overdrawn. At the same time, more and more companies are transforming into high-end brands and high-end products, and the high-end positions are becoming more and more crowded, and this pressure will further decline. Huge market competition pressure will make the brand concentration higher and higher. Driven by the objective demand for consumption upgrades, consumers will pay more and more attention to practical value.