A series of reports on the "Integrated Kitchen Storm Coming" at 0 ℃

Since its inception in 2003, the integrated cooker has gone through 16 years. As a comprehensive kitchen appliance integrating the smoke stove and other kitchen functions, the integrated stove has the characteristics of saving kitchen space, high oil smoke cleaning rate, etc. After more than ten years of market cultivation, integrated stoves ushered in a market outbreak around 2016. In 2017, the market retail volume exceeded one million units, and in 2018, it became the fourth kitchen appliance product with a market size of more than 10 billion besides traditional smoke stoves and water purification.

According to the data of Zhongyikang, the average annual compound growth rate of retail sales of integrated stoves in the past five years was 32%, and the retail sales reached 35%. Among them, the sales of integrated stoves in 2017 and 2018 increased 48% and 44% year on year respectively, reaching the peak of growth. From January to August this year, despite the overall decline of 6% in the household appliance industry, the integrated cooker still grew by 23%, and the total retail sales reached nearly 9 billion yuan. At the same time, the market of integrated stoves has expanded rapidly in the past few years. According to incomplete statistics, there are more than 300 large and small enterprises in the integrated stoves industry. Haier, Midea and other home appliance giants, bosses, Shuaikang and other traditional kitchen appliances enterprises have also entered the market. It can be said that integrated stoves have become star products in kitchen and bathroom appliances.


 

 

If the involvement of traditional home appliance manufacturers and professional brands of kitchen appliances has turned the integrated cooker industry into a hot topic in the whole kitchen appliance industry, we have to say that there is an enterprise that is the "focus of the dance floor" of the entire integrated cooker industry. This enterprise is Mida.

In the past two or three years, the headquarters building of Zhejiang Haining Meida Company has received an endless stream of "guests", including various industry institutions, investment institutions, household appliance manufacturers and competitors of Meida. The reason why people from all walks of life come here is also very simple. Some come to learn from the experience, and some come to seek business opportunities.

As a listed company among the leading brands in the integrated cooker industry, Mida has maintained a good growth in revenue and net profit since its listing in 2012. In particular, the development of Mida in recent years has been smooth, and it has maintained its leading position in the integrated cooker industry with a double growth of more than 20% in revenue and profit.

The third quarter report of 2019 released by Meida shows that in the first half of the year, the total operating revenue reached 700 million yuan, a year-on-year increase of 25.24%, and the net profit attributable to shareholders of listed companies reached 180 million yuan. The growth rate of both revenue and profit reached 25%, and the gross profit margin of the company was 53.47%. The income scale of Meida's main business integrated stove reached 631 million yuan, a year-on-year increase of 24.34%, accounting for 90% of the overall weight. According to its latest report for the third quarter of 2019, in Q3 this year, the revenue and net profit attributable to the parent company of Midea were 440 million and 120 million respectively, with year-on-year growth of more than 20% [See more]



 

Although the development momentum is good in recent years, the market of integrated stoves has been tepid before, and has encountered the embarrassment that both traditional kitchen appliances enterprises and cabinet enterprises are not optimistic. In addition, due to the relatively immature technology and design at the early stage of the development of integrated cooker, the safety of integrated cooker products has been questioned by traditional kitchen appliance enterprises. With the side suction integrated cooker becoming the mainstream of the market and the introduction of modular side suction products, the integrated cooker products have solved the safety problems existing in the deep well design, and the market scale has been rapidly expanded, which has also been more widely recognized. However, it has to be mentioned that the outside world still has doubts about the safety of the integrated cooker, which will obviously limit the development of the integrated cooker industry to a certain extent.

With regard to the safety of the integrated cooker, is it the external perception that remains in the initial impression, or does the product really have natural defects?

The safety of integrated cooker should start with its most prominent feature "integration". As a highly integrated product, the integrated cooker integrates at least three product functions in a small volume space, such as a cigarette machine, a cooker and a disinfection cabinet (or a steam oven). Compared with the products that work independently, the complexity of the integrated cooker is greatly improved, and therefore higher requirements are put forward for the safety and rationality of the design [See more]



 

 

"Integrated cooker" has been mentioned frequently in the past two years. High growth and high gross profit have become the sales myth of integrated cooker. However, no industry will be smooth. As more and more cross-border people focus on and enter this industry, the integrated stove will usher in foreseeable changes such as intensified competition, reshaping of the brand pattern, and acceleration of industry transformation and upgrading. When dark clouds gather, a storm about the integrated stove industry is coming.

Affected by the slowdown of domestic economic growth and the post real estate cycle, in 2019, the domestic kitchen appliance market was at a low ebb. According to Ovi Cloud, in the first half of this year, the overall retail sales of the kitchen appliance market fell by 9.5% year on year. Compared with last year, the downward trend is more obvious. The kitchen electricity market is very dependent on the real estate market, and the depression of new house sales has directly led to the "three major items" of kitchen electricity, namely range hoods, gas stoves, and disinfection cabinets. This year, there was a precipitous decline. In the first half of 2019, the sales of smoking machines reached 16.72 billion yuan, down 10.7% year on year; The sales volume of gas stoves was 9.37 billion yuan, down 6.3% year on year; The sales volume of disinfection cabinet was 2.05 billion yuan, down 13.9% year on year. The high growth of the kitchen appliance market in the past no longer exists, and the overall environment of the industry is not optimistic.

In contrast to the gloomy environment, the kitchen appliance, a gradually cold "track", is becoming more and more crowded. The rapid growth of the kitchen appliance industry in the first ten years has attracted a large number of enterprises while making other industries "jealous". In addition to Fang Tai, the boss, Vantage, Midea, Haier and other comprehensive household appliance brands of the "three outstanding kitchen appliances", Hisense, Changhong, TCL, as well as Yunmi, Skyworth and other brands have also stepped into the kitchen appliances market. According to incomplete statistics, the number of brands in the whole industry has exceeded 500, which is no longer a "blue ocean". The traditional kitchen appliance industry entered the stock market from the incremental market, and the competition among enterprises began to intensify. The industry was mired in a "price war" [See more]

 

 

[Produced by China Home Appliances Network]