"Compared with 2017, there is a certain gap in the washing machine market in the first half of 2018." In the recent washing machine market survey, the person in charge of the washing machine company told the State Grid of China that the sales performance of the washing machine market in all channels is not good since New Year's Day. Optimistically, the offline downward trend and the online slowdown trend are more obvious, but thanks to the adjustment of the product structure, the sales performance is relatively stable.
According to the total data of the market research organization Yikang Push, in the first half of 2018, the retail volume and value of the washing machine market were 18.07 million units and 34.7 billion yuan, an increase of 4.7% and 10.5% respectively compared with the same period last year. Although the momentum of both volume and value growth has been maintained, the growth rate has shown a slowing trend.
In addition, in the first half of 2018, the retail volume and value of the online washing machine market increased by 24.6% and 36.3% year-on-year respectively. The growth rate of the online market further slowed down, and it also set a new low for the same period in the online market.
In fact, in addition to the overall slowdown in market growth and the gradual disappearance of online market dividends, the recent "demographic crisis" argument has also made washing machine companies sweat.
What is the impact of the "population crisis" on the washing machine market?
On August 14, an article entitled "Increase the Fertility Rate: New Tasks for China's Population Development in the New Era", the proposal of "establishing a fertility fund" in the article triggered heated public opinion.
The article pointed out that in 2017, the annual number of births in Mainland China was 17.23 million, a decrease of 630,000 from the previous year. In the first half of 2018, the number of newborns dropped by about 15%-20% year-on-year. The shortage of newborns will exacerbate the decline in total social demand and cause the market to shrink.
Chen Weiguang, President of Ningbo Xinle Holding Group, believes that factors such as the decline in the birth rate and the decline in the number of marriages may have a certain inhibitory effect on the new demand. As for the extent and timing of the impact, it remains to be discussed.
In addition, some people in the industry believe that although the post-80s and post-90s who have the concept of quality life are gradually becoming the main consumers, the post-80s and post-90s group does not have an advantage in number compared to the older generation. As for whether the consumption upgrade of emerging consumer groups will offset the quantitative disadvantage, it is still worthy of further study.
It needs to be mentioned that the recent "population crisis" has been rumored to be more of new purchase demand, while the number of 100 households in the washing machine market is relatively high. At this stage, more market demand mainly comes from replacement purchases. According to Guo Meide, vice president of Aowei Cloud, the market for washing machines accounts for about 65% of the demand for renewal.
Therefore, instead of worrying about the possible shrinkage of the market caused by the "demographic crisis," it is better to grasp the continuous and stable demand for upgrading and transform from an impulsive business model to a more competitive benefit-driven business model.
Shouzheng is surprising: all-round products and differentiated products are promising
"The current consumer market is showing a trend of quality and diversification, and products that can provide consumers with a safe and healthy life will be very popular." Liu Jianguo, general manager of Hangzhou Matsushita Home High-end products and differentiated products targeting market segments will become an important driving force for the washing machine market in the future.
Liu Jianguo further stated that in terms of product types, the development prospects of the washer-dryer are the greatest, followed by large-capacity and drum washing machines, and finally the pulsator washing machine.
According to the monthly monitoring data of Zhongyikang, in the first half of 2018, the retail market share of drum washing machines exceeded 70%, with its share reaching 71.8%, an increase of 2.9% compared with the same period last year. In the first half of this year, the dominance of the 8KG drum washing machine was shaken for the first time. 9KG and 10KG products have risen rapidly. Among them, the capacity represented by 10KG has developed into the strongest driving force in the drum washing machine market, and its retail sales share has surpassed the previous hegemon. 8KG reached 36.5%, an increase of 20.6 percentage points compared with the same period last year.
In addition, comprehensive products represented by washer-dryers, health products represented by sterilization, deodorization, and self-cleaning, and differentiated products represented by mini washing machines have all seen rapid growth. Faced with the constant release of structural variables, the enthusiasm for product innovation of enterprises continues to rise.
Fan Shu, director of Xinle Electric Technology Center, told China State Grid that Xinle Electric has developed a "laundry + bucket" double-washing self-cleaning washing machine, which can eliminate the "second pollution" of the washing machine and care for the health of clothes.
According to Lei Zhenxing, director of the marketing and promotion department of Hangzhou Matsushita Home Appliances Co., Ltd., the ALPHA washing machine jointly designed by Panasonic and Porsche not only has a self-cleaning function, but also can easily achieve sterilization and deodorization.
Zhang Gewei, vice president of Jidd Group, said that the Xiao Ji mini washing machine created by Jidd and Internet companies has successfully detonated in the washing machine market by virtue of Internet-based operation, exclusive maternal and child washing functions and artistic design.
In Liu Jianguo's view, the hot sales of comprehensive washing and care products such as the washer-dryer and the hot sales of SUV cars have the same logic behind it. Both are all-round products in their respective fields, so they can meet the needs of most consumer groups to the greatest extent. The mini washing machine's maternal and child washing not only meets the needs of subdivided groups, but also meets the market demand of a multi-machine, so it can quickly explode and stand out in the subdivided market.
However, some people in the industry believe that in the process of market segmentation by washing machine companies, not all differentiated products can become explosive products like mini washing machines. For example, some have corresponding substitutes, and some subdivided groups are relatively narrow. Therefore, in the process of layout exploration, enterprises need to be alert to the trap of "false demand" in the process of technological innovation.
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