Most categories of kitchen cooking and home environment have lacked effective innovation in the past two years, and the market popularity has declined. Among them, rice cookers are still performing strongly due to their strong rigid demand. And other electrical appliances as optional cooking machines, Entering the category bottleneck period, the brand exits on a large scale. After the epidemic in 2020, cleaning appliances have integrated and added the self-cleaning function of mopping from a single function of suction and mopping, and entered the second outbreak period of the market. Floor washing machines have become a hot growth category. The market size will be close to 10 billion yuan.
Due to the early entry of traditional large appliances into consumer households and a relatively high penetration rate, the current market is dominated by active upgrades. The most immediate development trend is larger specifications, stronger performance, and richer functions. The upgrade of product structure and the rise of raw material prices have driven the changes in the price structure of the end market. Although some low-end models still maintain a certain sales volume, the overall market share of mid-to-high-end products is increasing.
Looking ahead to the home appliance market during the year, the effect of consumer-promoting measures such as home appliance energy-saving subsidies will be more obvious. Mainstream home appliance manufacturers and distributors should take full advantage of policies to improve product structure, improve service capabilities, and improve their own profitability.
In the overall unfavorable market environment, leading brands in various categories have more advantages than small and medium-sized brands in technology, innovation, marketing and other capabilities, which has promoted the expansion of their market share. The development of traditional home appliances is relatively mature, and it is difficult to achieve breakthroughs in the inherent dimensions of products. Therefore, some companies try to open up new tracks, such as laser TVs in color TVs, various display technologies, fresh air conditioners, refrigerators with new door structures, Duplex washing machine, etc. Analysis of changes in market feedback data, these differentiated products are gradually being accepted by consumers.
