The Chinese New Year 2018 consumer market as a whole to maintain high fever
In the spring of 2018, consumer spending has maintained its over-expected growth, and the consumption sector has become more and more obvious for the economy. Not only from the 2017 GDP growth data, it can be seen that the major driver of domestic economic growth has been transformed from capital expenditure into final consumer spending (2017) The contribution rate of annual GDP growth is
58.8%). Meanwhile, the data monitored by the Ministry of Commerce during the Spring Festival in 2018 showed that the consumer market continued to exceed expectations and that future consumption and investment will jointly support the domestic economic growth. From New Year's Eve to the first day of the sixth lunar month (during the Spring Festival), the national retail and catering enterprises achieved sales About 926 billion yuan, an increase of 10.2% over the Golden Week of the Spring Festival last year.
Midwest consumption growth lead, the effect of population migration highlights
During the Spring Festival in 2018, the retail markets in the central and western provinces led the growth of short-term population migration, while the migrant workers in the central and western regions exported large quantities of laborers and returned migrant workers during the Spring Festival. As the population moved, the capital brought a significant boost in the short term On the other hand, migrant workers bring their consumption habits and consumption patterns in the coastal areas back to their hometowns, which will also lead to the upgrading of some durable consumer goods and the improvement of the quality demands under various product categories.
According to the data from the Ministry of Commerce, the top five consumer spending during the Spring Festival are Tibet, Henan, Yunnan, Hebei and Anhui respectively. Sales of key monitored retail enterprises during the Spring Festival are up 15%, 14%, 13.7%, 12.2% and 11.9% respectively over the same period last year, Six to ten were respectively Qinghai, Sichuan, Guangxi, Hunan and Shaanxi.
Structural upgrading of home appliances obvious trend, second and third tier and rural markets have greater coverage
According to the statistics from the Ministry of Commerce, during the Spring Festival, sales of home appliances such as smart HDTVs, integrated washing machines, sweeping robots, water purifiers, and dishwashers continued to be maintained, and enterprises with technological research and development capabilities continued to emerge. Outstanding performance.At the same time, appliance sales growth in the three provinces were Jiangxi, Qinghai and Liaoning, respectively, key monitoring appliance sales increased 18.4%, respectively, 15.2% and 11.2%, but also from the side reflect the upgrading of home appliances to the central and western provinces migrate, And led to the growth of household appliances consumption characteristics.Home appliances sales strategy and sales price of online stores began to converge, during the Spring Festival store sales year-on-year record high, particularly in the second and third tier cities growth advantage is particularly affected by the second and third tier cities in the property market, Appliance sales continued to rise, the heat during the Spring Festival increased significantly year on year.
2018 continue to be optimistic about the investment in three main appliances
Based on the external factors affecting the demand for home appliances and the changes in the internal competitive landscape, we continue to recommend the three major investment themes of 2018: 1) stable white-electricity competition, outstanding leading profitability and leading edge advantages. On the one hand, R & D On the other hand, the leading enterprises have the pricing power in the industrial chain, strong cost control and maintain the competitive advantage. Continuing recommendation: Midea Group, Qingdao Haier , Gree, etc. 2) The growth in the industry dominated by kitchen electric appliances is still evident, and the overseas market structure, the share of leading enterprises and the expected growth of the market scale are still expected to continue. Recommended: Boss Appliances, Vantage, etc. 3) Sub-industry valuation is low, to improve the expected chase flexibility. Black electricity, for example, based on the reduction of TV panel supply and capacity improvement, eased the suppression of repression, improve the expected difference will continue upward, is expected to promote the return of value, it is recommended attention: TCL Group Hisense Electric and so on.