In recent years, the kitchen appliance industry has been regarded as the 'blue ocean' in the field of writers. By the end of 2017, kitchen appliances have been one of the fastest growing categories in the home appliance market for four consecutive years. However, since 2018, the kitchen appliance market has declined overall.
According to the data from the market research institute, Yikang measured that the retail sales of the kitchen appliance market in China was 46.9 billion yuan in the first half of the year, down 0.5% from the same period of last year. Especially in the kitchen appliances market, the traditional kitchen appliances category has suffered a large Market pressure: The retail sales of range hoods, gas stoves and disinfection cabinets fell by 3.8%, 1.6% and 13% respectively.
It can be seen that in such a market context, it is not easy to achieve contrarian growth, but Vantage has done it.
On the evening of August 26, the company released its 2018 interim results report. The company achieved operating income of 3.174 billion yuan in the first half of the year, up 17.24% year-on-year; net profit attributable to shareholders of listed companies was 343 million yuan, up 45.32% year-on-year.
In fact, although the overall situation of kitchen appliances has declined, it is not the industry's hibernation period. Instead, it has put forward higher requirements for kitchen appliances. With increasing competition pressure, it has strengthened its core competitiveness, and it is urgent to face consumers. How should the industry adjust its thinking, or you can find out from Vantage.
At present, high-end kitchen appliances are more and more accepted by consumers. Products with good appearance and performance will become the first choice for consumers to choose upgrades. Most of the kitchen appliances will go to high-priced products, and high-end products will begin to appear. According to 2017 China's high-end consumer electronics consumer report shows that more than 60% of consumers are purchasing high-end home appliances for the purpose of improving their quality of life. It can be seen that high-end upgrades are a new breakthrough for kitchen appliances.
In recent years, Vantage's high-end smart kitchen appliance brand has become more and more clear. Since the transformation of high-end kitchen appliances, Vantage has undergone tremendous changes in brand image, product change, talent introduction, etc. 2017 Vantage from the network drama circle, fashion Circles, entertainment circles, film and television circles and other ways to carry out marketing, from online to offline, from brand to product, strengthen product advertising, spread interface to achieve Pa-screen, KOL, fashion marketing trinity, comprehensively spread Vantage high-end intelligent brand positioning, Establish a young, stylish brand image.
In terms of products, after sorting out the original products, Vantage established an artificial intelligence strategy and guided the 'intelligent', and launched the 'Magic Mirror' V2 range hood, 'Magic Disc' suspended gas stove, ' Magic Box' steaming machine, three-body health dishwasher, full-time constant temperature gas water heater and other smart kitchen products. The financial report shows that Vantage's traditional smoke stove products have continued to grow steadily since 2018, and the water heater business has become a new growth point. In the first half of the year, the operating income of gas water heaters increased by 40.96% year-on-year, mainly because the Vantage gas water heater products were replaced and the quality was further improved.
Obviously, the reason why Vantage can go upstream in the relatively negative development of the industry as a whole, brand strategy adjustment and product internal structure upgrade is an important strategy to win.
In addition, Vantage is able to achieve the product price and price performance, thanks to its 'all-channel' development model. In order to fully meet the development goals, Vantage has also built a comprehensive and perfect market channel system. Through 'online + offline 'Two hands grabbed the channel and strengthened the terminal operation. Vantage used the refined management of marketing to enhance the sales management of the first-line market. The promotion of the online channel platform, cooperation with Dong Mall, Tmall Mall, Gome Online, Suning Tesco , all achieve high speed growth.
Through Vantage's contrarian growth, we can see that although the entire kitchen electricity market encountered Waterloo in the first half of the year, if the company can combine its own advantages and integrate structural upgrades and channel brands, it is believed that the Chinese market in the upgrade of consumption can still find a way. Have a place.