China's home appliance market has shifted from a mass-marketed incremental market to a stock market dominated by newer demand. Enterprises should seek new development momentum through technological innovation, management innovation and model innovation.
At the 2019 Jingdong Household Appliance Industry Summit held recently, Jiang Feng, chairman of the China Household Electrical Appliances Association, said that the Chinese home appliance market has shifted from a large-scale incremental market to a stock market with a demand-oriented demand. In the era of stock market, home appliance enterprises should seek new development momentum through technological innovation, management innovation and model innovation, find new advantages and achieve high-quality development.
“In 2018, the demand for China's home appliance market was generally low. Whether it was online or offline, the growth rate of major products was generally lower than that of 2017. However, Chinese home appliance companies still cultivated their products and innovation through technology and product innovation. Mode." Jiang Feng said.
According to data released by China Household Electrical Appliances Association, in 2018, China's home appliance business revenue reached 1.49 trillion yuan, a year-on-year increase of 9.9%; industry profit totaled 122.5 billion yuan, up 2.5% year-on-year; export value was 68.6 billion US dollars, year-on-year Growth of 9.9%. "The current demand for home appliances market is high-end, market-oriented, personalized, diversified, and household appliances consumption is in a state of differentiation." Jiang Feng said that on the one hand, consumption upgrades have brought about continuous growth of high-end products; on the other hand, novel design Unique and cost-effective products are still widely welcomed by the market. Revitalizing the stock, we must pay attention to the new features of home appliances.
Cai Ying, a senior expert in the home appliance industry of the National Information Center, believes that in addition to the demographic dividend, the development of China's home appliance industry has a large boutique dividend. “Boutique” is not necessarily a high-priced product, but a product that is highly targeted and can make consumers feel and pay attention.
Yan Xiaobing, senior vice president of Jingdong Group and president of 3C Electronics and Consumer Goods Retail Group of Jingdong Retail Group, said that Jingdong has taken the lead in launching C2M (customer-to-factory) reverse-customized Jingpin appliances and using the new Internet technology. Exclusively for cooperation, to create a new product line.
"With the new economy, the Internet, big data, and artificial intelligence, China's home appliance industry is opening a new era." Cai Ying said that the new era is reflected in four aspects. First, the Internet, artificial intelligence, big data and other technologies are The extensive application and successful experience in product development indicate that the technology and innovation of the home appliance industry has become the most important driving force for the industry to develop forward. Second, the distribution channels, including the role of e-commerce and producers, are vague, role integration and cross-border value-added coexist; Third, the high integration of online sales and offline experience has become an important part of new home appliance retailing. The integration based on big data has improved the viscosity between commercial enterprises and segmented users. The fourth is based on big data. The analysis of consumer behavior has brought about a clear wave of convergence between consumer portraits and product development, meeting the increasingly differentiated consumption levels in China and the increasing segmentation needs at the consumer level.