After the sales decline in May, the water heater market showed signs of a slight rebound in June. The overall retail volume and retail sales increased by 6.19% and 9.94% respectively, but still at a low level this year. In view, the retail volume of the entire water heater market fell by 3.72%, and retail sales increased by 5.97%.
It can be seen that regardless of the ring ratio or year-on-year, the growth rate of retail sales is significantly better than the increase in retail sales. This reflects that under the guise of the difficult regulation of the property market, the water heater market is striving to seek endogenous growth to break down the downturn. Dilemma.
(Source: Zhong Yikang)
The performance of sub-regional markets was the strongest. In the first month, the rebounding momentum of the first-tier cities was the strongest. The retail volume and retail sales increased by 10.77% and 16.05% respectively. The performance of second-tier cities was the worst, and the two retail sales only increased by 1.37. % and 4.23%; the third and fourth-line markets with low saturation continue to maintain a steady pace of expansion.
The year-on-year trend is almost the same as the ring ratio. The first-tier cities with the largest base and the fourth-tier cities with the smallest base are the most eye-catching. In the view of Aiken Power Grid, this is mainly because the first-tier cities have huge space for stock development, and fourth-tier cities. There is a bigger blank market to be tapped, both of which have opportunities for growth.
And compared with the general decline in retail sales, the retail sales of water heater products in the 1234 market have shown an upward trend in the month, which confirms the growth potential of product structure upgrade, and is not subject to regional restrictions.
Reflecting the level of brand competition, sales in first-tier cities have rebounded significantly, mainly driven by foreign brands. In June, the proportion of retail sales and retail sales of foreign brands increased by 2.13 and 2.09 percentage points respectively, among which AO Smith The performance was the most prominent. The two retail sales achieved a growth rate of 1.39% and 1.78%, respectively, and a year-on-year increase of 1.57% and 1.22%. This is the result of Haier, Midea, Wanhe, and Wanjiale. In the current month, the proportion of sales has declined to varying degrees.
However, from the performance of the first half of 2018, the domestic brands that have maintained the upper hand still maintained a small step of expansion. The two retail sales ratios increased by 0.47 and 2.29 percentage points respectively. Among them, the large increase in retail sales. It shows the active development of domestic brands in the transformation and upgrading. Specifically, in the first half of 2018, the average retail price of domestic brands rose by 12.13% to 2052 yuan, while the foreign brands with higher price bases increased slightly. From 4.42% to 3375 yuan. Among them, the brand with the biggest price increase is beautiful, reaching 17.01%.
The accelerated expansion of higher-priced products with higher prices is a major driving force for the price increase of water heaters. In the first half of 2018, the volume of retail water consumption of 13 liters and 13 liters or more increased by 17.46 percentage points year-on-year to 54.82%. Among them, the 13-liter product has replaced the 12-liter product to become the mainstream of the market. At the same time, the 60-litre mainstream electric water heater, the proportion of retail sales in the first half of the year also continued to increase by 2.71 percentage points to 43.70%, the proportion of retail sales Increased by 2.39 percentage points to 49.94%, nearly half of the market share of electric water heaters.
In addition, with the progress of natural gas pipeline construction, gas water heaters with more comfortable bathing have become more and more popular among consumers. The overall retail share is comparable to that of electric water heaters. However, based on China's huge rural market and complex installation environment, More universal electric water heaters still have room for growth, and the game between the two will continue for a long time.
