The driving force behind the new round of consumption upgrades is mainly the accumulation of wealth and demographic changes. It is characterized by the pursuit of quality upgrades of goods and services, which brings about a boom in brand consumption and an increase in average price. According to the monitoring data of Aowei Cloud (AVC), the demand for low-end kitchen appliances has further declined, and the demand for high-end kitchen appliances has further increased. Poor look at the hall, rich looking at the kitchen - the kitchen will be the highlight of the household consumption upgrade in the next 10 years, the market space of high-end brand kitchen appliances is self-evident.
Who will buy high-end kitchen appliances in the next 10 years?
With the start of a new round of consumer upgrades, there will be three types of people who will become the main force in the home appliance market and kitchen appliance market in the next decade: women, new middle class, and elderly users.
According to the 2017 Internet Home Improvement User Insight Report, the number and proportion of female users in the Internet home improvement sector are increasing year by year. In 2017, the female users exceeded the male users for the first time. When women make consumer decisions, quality and appearance are the two factors that influence their choice. At the same time, young women prefer a relaxed, clean cooking environment. For the selection of kitchen appliances, excellent quality and high-quality design require high-end kitchen appliances to meet.
The new middle class is one of the main players in the high-end kitchen electric appliance market in the present and even the next decade. According to the “2017 China Kitchen Consumption Trend Research Reportâ€, the young and middle-income and highly educated young groups show the consumer demand for quality and pursuit of experience. In addition to considering the quality and appearance of the products, the selection of kitchen appliances in this group of people is also an important criterion for making decisions whether the products are intelligent and whether they can obtain a good cooking experience.
With the increase of the aging population in China, the consumption growth of the elderly user groups cannot be ignored in the future. According to the "2017 Internet Home Improvement User Insight Report", the elderly user group with the functional requirements for the elderly is increasing year by year.
The use of kitchen appliances by elderly users mainly requires high safety and is easy to use and effortless. This requires kitchen appliances to have better quality, more comprehensive safety protection design, more friendly operation functions and functions such as no washing and washing, self-cleaning. At the same time, emerging categories such as dishwashers, steamers, and water purifiers are also favored by this group of users.
The demand for high-end kitchen appliances by these people provides a strong driving force for market growth and product innovation of high-end kitchen appliances for more than a decade.
Kitchen and power companies will have a more competitive advantage
Under the trend of consumption upgrading, kitchen appliances will achieve high-end, integration and intelligence for a considerable period of time. In these respects, kitchen-powered companies have an advantage. For example, the development of intelligence undoubtedly requires technical support. High-end kitchen appliances brands, such as Boss Electric Appliances, have clearly proposed to establish technology-driven companies. Only with strong technical research and development capabilities can we create truly intelligent products to meet the needs of users for higher quality products under the trend of consumption upgrading.
The development of kitchen appliances is high-end, integrated and intelligent
At the same time, in terms of brand, high-end brands have more influence on consumers. With the launch of a new round of consumption upgrades, the advantages of high-end brands will be further strengthened, especially for young consumers represented by the new middle class. The demand is even stronger. The brand's Matthew effect is highlighted.
In addition, in terms of channels, kitchen and electric leading enterprises will also be more competitive. Under the trend of consumption upgrading, the demand for high-end kitchen appliances in third- and fourth-tier cities is increasing, and there will be higher requirements for online and offline store purchases. Leading companies have a lot of room for improvement in terms of channels.
In 2017, the kitchen appliance industry handed over a satisfactory answer sheet. In the home appliance market, it is still a white horse. The professional kitchen electric appliance enterprises and comprehensive household electrical appliance enterprises that have been deeply ploughed into the industry for many years compete for the 100 billion market.
A new round of consumption upgrades has started. Although the kitchen appliance industry has experienced rapid growth for 10 consecutive years and the scale has reached 100 billion, in the long run, the slowdown in growth is far from coming. In 2018, the era of high-end kitchen appliances has just begun.
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