In the first half of the year, the washing machine industry did not appear too many ups and downs, the market scale maintained steady growth, the market structure continued to change, the share continued to concentrate on leading enterprises, and the industry shuffled faster. Every enterprise is facing the test of the market, especially Small brand.
With the upgrading of product structure becoming the main theme of market development, the high-end market has become the common choice of washing machine giants. Under the new round of offensives of the giants, the battle of the second half of the washing machine industry has started.
Market steady growth industry reshuffle
Although it is also facing the transmission pressure of the real estate market regulation, the performance of the washing machine market is still remarkable. Among the three major white batteries, the market growth rate of washing machines is second only to air conditioners.
In the first half of 2018, the retail volume and volume of China's washing machine market were 18.07 million units and 34.7 billion yuan respectively, an increase of 4.7% and 10.5% respectively compared with the same period of last year.
Compared with the overall level of the industry, the performance of washing machine leading enterprises should be more eye-catching. On the evening of August 7, Little Swan, the leading company in the washing machine industry, released its semi-annual performance report. In the first half of the year, it achieved an operating income of 12.057 billion yuan, a year-on-year increase of 14.09%, and a net profit of 902 million yuan, a year-on-year increase of 23.31%. The overall gross profit margin was 26.60%. Increase by 0.99 percentage points.
At the Global Strategic Partner Conference of 2018TCL Refrigerator Washing Machine held on August 8th, Tsang White, Director of Washing Product Center of TCL White Appliances Division, announced that in the first half of 2018, TCL washing machine shipments exceeded 1 million units, and revenue increased year-on-year. 16.6%, the industry ranked sixth.
Behind the industry giant's beautiful transcripts is the further concentration of brand concentration and the acceleration of industry reshuffle. According to the monthly monitoring data of Zhongyikang Line, in the first half of 2018, the retail sales share of the TOP10 brand in the washing machine market was 92.1%, and the share increased by 1.2 percentage points compared with the same period of last year.
“The brand concentration has been further enhanced and the market competition is fierce. The industry has gradually intensified the reshuffle, the number of brands has gradually decreased, and the small brands have been under pressure.†Zuo Yanzhen, general manager of Zhongyikang Brand Center, said.
According to the monitoring data of Zhongyikang, in the first half of 2018, the number of brands in the washing machine offline market was 154, which was 8 fewer than the same period of last year; the number of online brands was 124, which was lower than the same period of last year. 4.
Everbright Securities Research Institute predicts that from the second half of the year, the demand structure of washing machine product renewal demand will be less affected by the real estate cycle, and the product upgrade trend and the modest growth of the shipping end will continue to drive the industry scale to increase steadily.
Comply with consumer trends, corporate layout, second half
The traditional kinetic energy of the rapid growth of the washing machine industry, such as demographic dividends and real estate, has gradually disappeared. However, consumers' demands for the function, design and quality of washing machines still provide a huge space for washing machines.
Yang He, an analyst at Ovi Cloud's Ice Wash Big Data Division, believes that when consumption upgrades meet new demands, consumer quality and experience become the primary needs of consumers, and consumers are more willing to pay higher prices for high-quality products. High-end products have become the choice of more and more people. Under the general trend of scale-up in the industry, the high-end market has become the new engine of the washing machine industry in the transition period and has become the only way for enterprises to pursue the quality of operation.
Faced with changes in consumer trends, the washing machine industry giants have accelerated the pace of product upgrades and launched a charge to the high-end market.
In the first half of the performance report, Little Swan clearly stated that one of its work plans for the second half of the year is to focus on business transformation and consumption upgrading trends, strengthen R&D technology innovation, and further promote high-end, intelligent and differentiated product layout to ensure timely new products. Listing, continuously optimize product structure and enhance product competitiveness.
On August 8th, Panasonic and TCL released new washing machines on the same day. Panasonic launched a new Panasonic ALPHA Alpha product jointly developed with Porsche Design. For the first time in the industry, the product adopts a full stainless steel case and draws on the design elements of Porsche's high-end sports car. It adopts Porsche wheel hub inner tube design and is equipped with many innovative technologies such as Panasonic nanoeX nano water ion technology. Sterilize, keep the barrel clean and reduce secondary pollution. It is reported that this new product is the result of the 28-month research and development of the two teams and the pre-research and development cost of up to 150 million yuan.
In September last year, Panasonic and Porsche Design announced in Germany that the two sides reached a full range of strategic cooperation in product design, brand cooperation and joint marketing, pointing to the high-end washing machine market in China.
At the new product launch conference on August 8, Zhang Junxi, director of commodity planning department of Hangzhou Matsushita Household Appliances Co., Ltd., said that after the market survey, modern washing machine users are no longer satisfied with simple washing and drying functions. The accumulation of material wealth and the improvement of aesthetic taste, they pay special attention to the performance of products in health care, intelligent operation, etc., but also pay more attention to product design, process materials and so on.
The new washing machine released by TCL is another extension of its lineup of pollution-free washing machines. In March of this year, TCL released the “Dust Free +†strategic upgrade, announcing that it will take the lead in achieving the whole line of pollution-free products in 2018, while stopping the R&D investment of non-stainless products, and will stop producing non-stainless washing machines by 2020. , gradually promote health care to a new milestone.
In fact, not only the industry giants are responding to the market consumption tide to strengthen the supply of high-end products, even small brands like CEIBS are seeking to respond to market competition through their product structure upgrades. At the end of July this year, CEIBS introduced a drum and wall-mounted drum washing machine with the intention of consolidating its living space with a differentiated product portfolio.
For the washing machine market where opportunities and risks coexist, whether it is industry giants or small brands, the wrestling of enterprises at the product level has just begun, and there is still a long way to go in the second half.
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