Giant Capital is rushing to eat small kitchen appliances to speed up transformation and upgrading
The kitchen appliance industry is a healthy and up-and-coming industry. In this situation, there is not much room left for small and medium-sized brands. In terms of development space, compared with household appliances such as color TVs, refrigerators and air conditioners, the popularity of kitchen appliances has room for improvement, and there is a large demand for replacement. Taking the range hood as an example, according to public information, the average number of household hoods in rural households in 2016 was 0.18 units and the number of towns was 0.71 units. The low kitchen share of residents has become an important factor in the continuous growth of kitchen appliances. In terms of the competitive landscape, there has not yet been a situation in which a single brand has an overwhelming advantage. In recent years, the kitchen electric industry, which is a high-profit, has attracted many brands to get involved. The fierce competition of the competition cannot prevent a wave of predators. According to Omni Cloud (AVC) omnichannel testing data, there were 621 brands of smoked stoves in 2015, which dropped to 547 in 2016, but increased to 595 in 2017. Regardless of whether it is online or offline, the market share of TOP10 brand is increasing, brand concentration is further intensified, and it is more and more difficult for new brands to share a piece of cake. In addition, the siphon effect of the kitchen appliance industry has enabled foreign high-end brands to enter the domestic market through various cooperation modes. Even the Internet company Yunmi has already deployed all-house connected home appliances. This year, the predator Foxconn showed home appliances at the Home Appliances Summit Forum. The ambition of the layout is related to up to 24 home appliances in the ice-washing kitchen. According to the analysis of Zhongyikang data, the kitchen appliance market will break through the 100 billion mark in 2018, and the kitchen appliance industry is welcoming the golden period of market development. For professional kitchen appliances, whether it is a big brand or a small brand, they are under pressure from giant capital to grab the kitchen electricity market. The days of small brands will be even more difficult. One is because of changes in the consumer market. In the past, the head brands were generally oriented to the high-end market of the first and second grades. It is more difficult to locate the brands in the third and fourth grades or even the township market. However, the high development of the Internet and the construction of the logistics system have broken the barriers for users of low-end consumer markets to access high-end products. At the same time, it was thought that high-end brands were difficult to sink because of the gap in consumption levels between rural and urban residents. According to the National Bureau of Statistics, in the first quarter of 2018, the per capita consumption expenditure of the national residents was 5,162 yuan, a nominal increase of 7.6% over the same period of the previous year. After deducting the price factor, the actual increase was 5.4%. Among them, the per capita consumption expenditure of urban residents was 6,749 yuan, an increase of 5.7%. After deducting the price factor, the actual increase was 3.4%; the per capita consumption expenditure of rural residents was 3,241 yuan, an increase of 11.0%. After deducting the price factor, the actual increase was 8.8%. The data shows that the level of consumption between urban residents and rural residents is constantly drawing closer, and the consumption level of rural residents is growing at a higher rate. In addition, factors such as subsidies for housing purchases, policies to attract talents, and plans for personal development in third- and fourth-tier cities have attracted a large number of young people who have experienced life in first-tier cities. This part of the young people return to the low-level cities, both consumption power and consumer willingness to pursue the taste of life. In recent years, more and more kitchen and bathroom enterprises have set off a wave of “high-end†and “intelligentâ€, and have also brought about continuous improvement in product unit prices. According to industry insiders, the “small town youth†who pursue the quality of life will have a lot of opportunities for the three-four cities. It is reported that consumers in the third- and fourth-tier cities will become the fastest growing group in the future. McKinsey predicts that the household consumption of Chinese cities in the next decade will increase the proportion of middle-income and above people. It is expected to reach 81% in 2022, becoming the most important contributor to China's consumption upgrade. Second, the policy of hardcover housing has gradually landed and implemented in various places, occupying a part of the market space. In recent years, the market for hardcover houses across the country has developed rapidly, and the market share of fine-decorated houses has increased year by year. Local governments have introduced regulations for the delivery of new houses, and under the impetus of greening and industrialization of housing, the “raw house†will gradually withdraw from the historical stage of real estate and usher in the “full decoration eraâ€. In the first quarter of this year, the fine decoration market started well. According to the data of Avi Cloud (AVC), the scale of hardcover opening increased rapidly, with 341 projects, and the number of projects reached 344,000, an increase of 93.4%; The main market, accounting for 88.4%; East China, South China as the main force area, accounting for more than 70%. The overall market size of the fine decoration industry is growing rapidly, and for the supporting facilities, it will release more room for growth. In addition, according to the monitoring data of Aowei Cloud Network, the market share of fine decoration in the first quarter of 2018 is gradually increasing, and the growth rate is obvious. It can be seen that the fine decoration market has sunk to the third- and fourth-tier cities. However, it is not all brands that are affected by “fine decoration†and consumption upgrades, but those brands that are already very good. For example, according to statistics, in the whole brand, the top three brands in the dishwasher matching market in the third quarter of 2017 were Fangtai, Bosch and Siemens, with a market share of 78.11%; among domestic brands, Fangtai accounted for 54.41. %; among foreign brands, Bosch and Siemens have a relatively high market share. From this point of view, the fine decoration room configuration is the "squatter" in the product category, which also meets the standard of consumption upgrade. Therefore, the model of positioning high-end brands to cooperate with real estate companies is to find a new growth space under the external environment, and it is also a way for channels to sink. The third- and fourth-tier markets and even the township market were originally the home base of small and medium-sized brands, but they will lose a living space because of this trend. Cai Ying, deputy director of the Information Resource Development Department of the National Information Center, predicts that as the market pressure increases, the speed of large kitchen appliances entering the third- and fourth-tier markets or township markets will accelerate, leaving the living space and profit margin for small and medium-sized brands. Smaller and smaller, the phenomenon of brand elimination will accelerate, and the brand concentration of the kitchen appliance industry will become higher and higher in the future. Although the number of kitchen appliances in 2017 has returned more than in 2016, according to the current increasingly severe situation, it is estimated that the number of brands will be reduced in 2018. If small brands rely on low-cost strategies to expand their scale, in the era of consumption upgrading and high-end driving, it is not in line with the laws of the market. Therefore, if you want to transform, you must pay more attention to the last bus.
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