On March 22, the National Home Appliance Industry Information Center released the 2023 Annual Report of China's Home Appliance Industry, which first pointed out four major trends in the development of the home appliance industry:
1、 The domestic economy recovered and the household appliance industry grew steadily
The four quarters from Q1 to Q4 in 2023 will achieve stable growth, and the annual GDP will grow by 5.2% year on year. Among the troika of investment, consumption and export, consumption will lead the way with 7.2% year on year growth. Among the household consumption, household appliances consumption increased slightly, and the domestic market sales reached 773.6 billion yuan, an increase of 1.7%, showing a stable recovery; The export volume reached 617.4 billion yuan, up 9.9%.
2、 The scale of traditional household appliances is stable, and the product structure is continuously adjusted
In the overall household appliance market, color TV sets, air conditioners and ice washing products are the main categories, of which the size of color TV sets has declined slightly. On the one hand, demand has shrunk and the head brand advantage has expanded; On the other hand, the large size keeps rapid growth, AI will become the key factor in the future market.
The air conditioning category is greatly affected by the weather, and the market scale has recovered well; Continuous adjustment of industrial structure; Online prices have been falling, while offline market prices have remained stable; The health attribute was further enhanced, and the kitchen air conditioning scene race track was opened up.
Refrigerator products continue to innovate in appearance and technology, and the share of large volume refrigerators continues to increase; The leading brand of washing machine is involved in the combined sales mode of washing+drying+nursing, and the share of washing and drying integration is affected by independent dryers.
The overall trend of kitchen and bathroom appliances is good, offline high-end brands still occupy a certain market, while online ones show the pursuit of quality price ratio; The performance of stoves, dishwashers, water heaters and other products has been continuously upgraded; The integrated cooking center has entered a rapid development stage.
3、 Diversified development of online market and obvious trend of offline scene
Online channels account for diversified development. According to the scale advantage, it is difficult to get rid of the competition mode of price war, and small household appliances rely heavily on online channels; Offline sales will grow by 5.1% year on year in 2023, and the scenario based form will promote the integration of home appliances and home furnishing products; The sinking of the low-end market and the two-way extension of the layout of flagship stores in the high-end market,
4、 With the help of a number of favorable policy factors, the scale of household appliances will continue to increase
The Report points out that stimulating the renewal of the stock market is the cornerstone of the stability of the household appliance industry; Product upgrading and new category expansion are the top priorities of industry development; Multi channel joint promotion is an efficient way to improve consumer reach; The favorable factors help the household appliance industry, and the sales scale is expected to increase again.
