In recent years, the kitchen and electric market has maintained a growth rate of more than double digits. The overall market scale is close to 100 billion yuan, and it is one of the few bright spots in the category of home appliances.
However, in 2018, the kitchen power market was extremely sluggish, and many products fell into a declining year-on-year. Nail Technology also learned from the industry that many mainstream kitchen and electric companies are facing growth pressure and are not optimistic about the second half of the year.
Nail Technology noticed that from the data of market research institutes in May, the kitchen and electric market still showed no signs of overall improvement. Ove Cloud Network data showed that in addition to water purification equipment, dishwashers and other emerging categories remained positive in May. In addition to the growth, the main products of traditional kitchen and kitchen appliances, such as hoods, gas stoves, and water heaters, have fallen into a sluggish situation. Microwave ovens, electric ovens and other categories have also experienced different degrees of decline compared to the same period last year.
From the specific data, in the water heater products, the retail sales of gas, electricity, and water heaters dropped 6%, 9%, and 8%, respectively, year-on-year.
In the range hood products, Chinese-style, European-style, near-inhaled retail sales decreased by 23%, 14%, and 7% respectively year-on-year.
Among gas stove products, retail sales of desktop and embedded products dropped by 25% and 10% respectively year-on-year.
Of the major home appliance categories, the year-on-year declines included color TVs (-17%), refrigerators (-2%), water heaters (-8%), range hoods (-11%), gas stoves (-11%), air purification (-15%), Rice Cooker (-4%), Microwave Cooker (-7%) Induction Cooker (-3%), Electric Oven (-12%), Juicer (-21%).
Nail Technology analysis believes that although the home appliance market as a whole showed signs of a rebound, the market size (including mobile phones and 3C) in May reached 151.2 billion yuan, an increase of 8.1% year-on-year, but in fact, most home appliance categories showed a year-on-year decline. Kitchen appliances and electrical products have fallen most, and the overall situation is still not optimistic. For Fangtai, Boss, Vantage, Wanhe, and these kitchen and electric brands, they still need to pay enough attention and effectively implement innovation through product, technology, marketing and marketing. response.