'By 2022, Panasonic's home appliance business in China will achieve sales of 20 billion yuan, and it will double its growth on the basis of 2017. ' It takes just one year for Panasonic Home Appliances (China) Co., Ltd. (hereafter referred to as 'Matsushita AP China'). ) General Manager Wu Liang said that Panasonic should work hard to regain lost market share in the past.
Wu Liang, General Manager of Panasonic Home Appliances (China) Co., Ltd.
On April 12, the large-scale theme show of Panasonic Future EXPO opened in Beijing. In the strategic release of the day, Matsushita Electric (China) Co., Ltd. Chairman of the Board of Directors and China and North East Asia General Manager Yokoo Dingh Ding and home appliances, residential, onboard , B2B business executives, Panasonic China's business development process, strategic initiatives, etc. for its full range of interpretation.
'The world is changing and changing itself.' Wu Liang said that in the peak period of Panasonic’s home appliance business in China, the market share once reached over 15%, but only about 2% at present. Previously, Panasonic’s business model was not adapted to the development of the Chinese market. What needs to be done now is 'change yourself'.
In April 2017, Matsushita Electric (China) Co., Ltd. transferred its home appliance business functions to Panasonic AP China. The latter has since managed Panasonic's home appliance business in China, forming a one-stop system from product planning to development, manufacturing, and sales. At the same time, Panasonic AP China abolished the management system copied from Japan and replaced it with a management system that is more adaptable to changes in the Chinese market.
After the reform of the 'superstructure', a series of basic development strategies surfaced.
No progress
Starting from electrical appliances, the home appliance business was once the absolute main force of Panasonic. However, now, Panasonic has relied on its dependence on the appliance business.
According to the forecast data released by Yokoo, the total sales of Matsushita Electric Co., Ltd. in 2017 were approximately 497 billion yuan, including 31% of sales of automotive business, 29% of home appliance sales, and 19% of residential environmental business sales. The proportion of sales of B2B Internet solutions business is 13%. It is clear that Panasonic’s home appliance business has indeed declined from its peak performance period, both in terms of its overall performance and its market share in China.
In fact, the proportion of Panasonic’s home appliance business in China has declined. On the one hand, there are market competition reasons. On the other hand, it is also related to the great development of B2B business.
At the beginning of 2017, Tadashi Ozawa, then Chairman of Matsushita Electric (China) Co., Ltd., told the media that 80% of Panasonic’s sales in China came from B2B business in 2015. Household appliances only accounted for about 20%. However, Panasonic is not Strategically reducing the proportion of home appliance business, but because China has grown into a large ICT country. In the process of manufacturing a large country, Panasonic’s semiconductor, battery, and motor components sales continue to increase, so the proportion of B2B businesses naturally increases.
From this point of view, the status of the home appliance business in Matsushita Electric is not only facing the competition of the external home appliance market, but also the pressure caused by Panasonic's other internal business segments.
According to Yokoo, it is clear that China and the world are undergoing profound changes. Only by looking ahead and challenging the future can we create the next 100 years. Although Panasonic’s home appliance business currently faces some challenges, Matsushita will continue to practice it. The business philosophy of 'A Better Life, A Better World' provides people with high quality living experience.
Matsuo Electric (China) Co., Ltd. Chairman and China, North East Asia General Representative
Four arrows
In three years, sales have risen from 10 billion yuan to 20 billion yuan. Where does Wu Liang's confidence come from?
Wu Liang stated that in order to realize the goal of annual sales of 20 billion yuan in 2020, Panasonic AP China will adopt a series of new initiatives in brand, merchandise, marketing, and residential space strategy.
In terms of brand strategy, Panasonic will target the 'upstart' groups focusing on health and taste, and shape high-end brand image through high value-added products.
Commodity strategy will be transformed from single product enhancement and commodity group enhancement to the overall strengthening of residential space, through the creation of a living space × IOT layout, creating residential space value.
In terms of marketing strategy, the linkage between online and offline channels and the use of big data will be used for marketing. Wu Liang declared that in terms of marketing, Panasonic AP China's ultimate goal is to achieve online, offline and same price.
In the residential space strategy, a complete residential space plan will be created through the kitchen, bathroom, living room and other scenarios to create material and spiritual values for customers.
According to Wu Liang, in the area of kitchen space, she has developed healthy recipes in cooperation with Jiangnan University, and provided one-click delivery service for fresh ingredients in collaboration with Fresh Fruits. In the bathroom area, she will create a life experience centered on 'Magic Mirror'. , providing health, entertainment, information and other services.
2018 is the 100th anniversary of the establishment of Matsushita Electric Industrial Co., Ltd. and is also the 40th year it has passed in China. Not only does the appliance business need to change, Matsushita Electric also faces the vision for the next 100 years. China National Grid learned that it was in Beijing in April. After the theme display and strategic release, Panasonic executives will also appear in Shanghai in June, Shenzhen in August, and Hong Kong and Taipei in November.