Affected by the weak real estate market, the development of the kitchen appliance industry in the first quarter of this year was blocked, and the leading kitchen appliances and Fang Tai were actively seeking breakthroughs.
In recent years, people have increasingly pursued the quality of life, and kitchen appliances have become one of the fastest growing categories in China's home appliance industry. However, since the second half of last year, the market for kitchen appliances such as range hoods has slowed down. In the first half of this year, the slowdown in growth was more obvious.
According to data from Avi Cloud (AVC), the retail sales of the kitchen industry (smoke machine, stove, disinfection cabinet) in the first quarter of 2018 was 12.8 billion yuan, down 6% year-on-year. This is the kitchen power in recent years. The industry was cold for the first time in the year.
The insiders judged that there were three reasons for the decline: first, real estate purchase restrictions, which made the new demand sluggish; second, the Spring Festival was misplaced, delaying the pace of home improvement; third, the base number was higher in the same period last year (the real estate in 2016 was hot and lagging).
As a cooker hood of the chef's electric faucet products, there was a negative growth for three consecutive months at the beginning of this year. According to relevant research data, in February, March and April this year, the sales of domestic range hoods fell by 44.6%, 4.9% and 16.3% respectively.
The growth rate of kitchen power listed companies in the first quarter of this year also slowed down noticeably.
In the first quarter of 2018, Boss Electric's revenue increased by 16.89% year-on-year to 1.592 billion yuan, and the net profit attributable to shareholders of listed companies increased by 20.05% to 302 million yuan. In the first quarter of 2018, Vantage's revenue increased by 23.23% to 1.4 billion yuan, and the net profit attributable to shareholders of listed companies increased by 50% to 110 million yuan. Compared with the 2017 results, their revenue and net profit growth have declined.
“In the past few years, the performance has increased by 40%. We are a fast-growing enterprise. 20% in the first quarter of this year is also a healthy growth rate. The initial intention of our kitchen electric appliance will not change.†Ye Dan, director of the strategic marketing department of Boss Electric, told the First Financial Reporter. .
Guo Weide, vice president of Aowei Cloud Network, told the First Financial Reporter that with the upgrade of domestic consumption, although the growth of the kitchen appliance industry has slowed down, it is expected that the Chinese kitchen appliance market will exceed 100 billion yuan in 2018.
Ye Dan servant also believes that there will still be room for growth in China's real estate market, including urbanization, demand improvement and rental housing demand. Moreover, there are less than 20 range hoods per 100 households in rural China, so there is still a lot of potential in the kitchen appliance market.
In order to achieve continuous growth, Boss Electric is expanding more kitchen appliances, hoping to provide a complete set of kitchen appliances, and ultimately hope to form a smart ecosystem of the entire kitchen.
There is no such thing. Fang Tai also released the FIKS Smart Life Home System. The FIKS system means that the company's products will shift from the intelligentization of single kitchen appliances to the construction of the entire kitchen ecosystem. Users can connect multiple kitchen appliances with one button through the “Grand Chef Butler†smart terminal, knowing the state of the kitchen at any time, and coordinating multiple kitchen appliances through the Fangtai Life Home APP.
In addition to product line extensions, there are service extensions. Ye Danpu expects that China's per capita GDP has reached 8,000 US dollars, and demand will shift from food, clothing and housing to services. In the next one or two markets, one-stop home improvement will become a trend, and services will include design, building materials, construction, furniture, and home appliances. Professional brand stores in the kitchen space will emerge, offering both goods and lifestyle services and proposals.
Fang Tai also plays a large service card. Together with a team of professional dietitians, he has developed more than 2,000 healthy recipes to form the basis of the intelligent diet consultant for the FIKS system. The number of this recipe will continue to increase at a rate of about 1,000 per year. In addition, there is a culinary cloud sharing function that allows users to share their cooking skills.
In terms of competition, Haier, Midea, Hisense and other comprehensive home appliance groups have actively introduced overseas high-end kitchen appliances brands into the Chinese market through acquisitions and joint ventures. Like Haier acquired GE Home Appliances, New Zealand Fisher & Paykel, GE Appliances, Fisher & Paykel is actively exploring China's high-end kitchen appliances market; Midea and Electrolux established a joint venture, hoping to use Electrolux's German high-end brand AEG China's business is growing; Hisense has acquired the kitchen appliance business of Gorenje, a European-based brand based in Slovenia this year. In addition, Bosi home appliances and other European veteran powerhouses have also stepped up efforts to deepen China's kitchen appliances market.
In the face of these comprehensive appliance giants holding foreign brand resources, Fang Tai, the boss and other professional kitchen appliances brand's largest "moat" is to deeply meet the Chinese localized food culture needs.
Guo Meide suggested that if the kitchen appliance brand wants to gain growth, it must do the following layout: complete categories to meet the demand for nesting, increase customer unit price, cultivate high-speed development categories such as embedded and dishwasher, and expand channels such as fine decoration, building materials, Internet home decoration, etc. Channels, while doing product innovation to upgrade and redeem old users.
"The future competition of kitchen appliances will be divided into comprehensive brands (Haier, Midea) and professional brands (boss, Fangtai, Vantage) and cross-border brands (Internet brands, cabinet manufacturers), future competition will compete for product innovation, user reputation, brand building Comprehensive capabilities such as installation services, at present, brands that lack the above factors will gradually be cleared." Guo Meide said.
Shenzhen Hongjiali New Energy Co., Ltd. , https://www.hjlcharger.com