Affected by the weakness of the real estate market, the first quarter of this year, the development of the kitchen appliance industry was blocked, the leader of kitchen appliances, Fang Tai, etc. are actively seeking breakthroughs.
In recent years, people are increasingly pursuing quality of life. Kitchen appliances have become one of the fastest-growing categories in China's home appliance industry. However, since the second half of last year, kitchen appliances such as range hoods have slowed down. In the first half of this year, growth slowed down. For obvious.
According to data from AVC, the retail sales of the chefs' electric industry (smoking machine, cooker, and sterilizer) in the first quarter of 2018 was 12.8 billion yuan, down 6% year-on-year. For the first time in the industry, it is cold.
There are three reasons for the industry to judge the decline: First, property purchase restrictions have caused new demand to slump; Second, the Spring Festival has been misplaced, delaying the rhythm of home improvement; Third, the base figure was higher in the same period last year (in 2016, real estate was hot and lagging behind).
As a leading kitchen cooker product, the range hood has experienced a three-month negative growth at the beginning of the year. Related research data show that in February, March and April of this year, the sales of the domestic range hood market fell respectively year-on-year. 44.6%, 4.9% and 16.3%.
The growth rate of the kitchen electric listed companies in the first quarter of this year has also slowed down significantly.
Boss’s revenue in the first quarter of 2018 increased 16.89% year-on-year to 1.592 billion yuan, and net profit attributable to shareholders of listed companies rose 20.05% to 312 million yuan. The revenue of Vantage shares in the first quarter of 2018 increased by 23.23% to 1.4 billion yuan. The net profit of the shareholders of the listed company increased by 50% to 110 million yuan. Compared with the 2017 results, both their revenue and net profit increased.
'Over the past few years, our performance has increased by 40%. We are a high-growth company. In the first quarter of this year, 20% is also a healthy rate of growth. We will not change the heart of our kitchens.' The reporter said.
Guo Weide, vice president of Ove Cloud Network, analyzed with the First Financial Reporter that with the upgrading of domestic consumption, despite the slowdown in the growth of the kitchen power industry, it is expected that in 2018 China's kitchen power market will exceed 100 billion yuan.
Ye Dan 芃 It is also believed that there is still room for growth in China’s real estate in the future, including urbanization, improvement of demand and rental demand, etc. Moreover, the number of cooker hoods per 100 residents in rural China is less than 20, so the market for kitchen appliances is still large. The potential can be tapped.
In order to achieve continuous growth, Boss Electric is expanding more kitchen electric products, hoping to provide a whole set of kitchen electricity solutions, and ultimately hopes to form the smart ecology of the entire kitchen.
Coincidentally, Fantasy has also released the FIKS smart living system. The FIKS system means that the company's products will move from the intelligentization of the single kitchen appliance product to the construction of the entire kitchen ecosystem. Users can use the 'master chef' smart terminal The key interconnects multiple kitchen appliances, so you can know the status of the kitchen at any time. You can also coordinate the work of multiple kitchen appliances through Fantasy Life APP.
In addition to the product line extension, there is service extension. Ye Dan 芃 It is estimated that China's per capita GDP has reached 8,000 US dollars at present, and demand will shift from clothing, food and housing to services. In the future primary and secondary markets, one-stop home improvement will become a trend. Services will include design, construction materials, construction, furniture, household appliances, etc. Professional brand stores will emerge, offering both goods and lifestyle services and proposals.
Fangtai similarly played the service card. Together with a team of professional dietitians, it developed more than 2,000 healthy recipes and formed the basis of the FIKS System Intelligent Dietary Consultant. The number of the recipes will continue to increase at a rate of around 1,000 channels per year. There is a cooking cloud sharing feature that allows users to share their cooking skills.
From a competitive perspective, Haier, Midea, Hisense and other comprehensive appliance groups have actively introduced overseas high-end kitchen and electric brands into the Chinese market in recent years through acquisitions, joint ventures, etc. Haier acquired GE appliances from the US, Fisher & Paykel, New Zealand, and current GE appliances. , Fisher & Paykel is actively exploring the market for high-end kitchen appliances in China; Midea and Electrolux form a joint venture and hope to expand the Chinese business of AEG, a subsidiary of the German high-end terminal brand under Electrolux; Hisense will acquire European headquarters based in Slovenia this year. Branding Gorenje's kitchen and electric business. In addition, Bossi Home Appliances and other European veterans have also stepped up efforts to deepen China's kitchen appliances market.
In the face of these comprehensive household appliances giants with hand-held brand resources, Fang Tai, the boss and other professional chef electric brand's biggest 'moat' is to deeply satisfy China's localized diet culture needs.
Guo Meide suggested that kitchen appliances brands want to grow, and they must have the following layout: Complete categories to meet the demand for hedging, increase customer unit prices, nurture high-speed development categories such as embedded, dishwashers, channel expansion such as fine decoration, building materials, Internet home improvement, etc. Channels, while doing a good job of product innovation to upgrade the old users.
'The future competition of kitchen appliances will be divided into comprehensive brands (Haier, Midea) and professional brands (boss, Fang Tai, Vantage) and cross-border brands (Internet brands, cabinet manufacturers), future competition will compete product innovation, user word of mouth, brand building , Integrated services such as installation services, currently looking at the lack of the above elements will gradually be cleared. ' Guo Meide said.