On March 22, the China Electronics Information Industry Development Research Institute released the "Report on China's Household Appliances Market in 2020" (hereinafter referred to as the "Report"). The "Report" shows that in 2020, my country's household appliance market retail sales reached 833.3 billion yuan, showing strong resilience under the impact of the epidemic; the contribution rate of e-commerce channels to household appliance retail exceeded 50% for the first time, and online retail to household appliance consumption The promotion effect of high-end products and household appliances has been further enhanced; substantial growth in high-end products and household appliances has effectively promoted consumption upgrading and industrial transformation.

The "Report" predicts that in 2021, the home appliance market will stop falling and rise. Under various favorable factors, the market size is expected to return to the level of 2019.


First decline and then rise, online consumption becomes the main force

In 2020, my country's home appliance market will decline first and then rise. Affected by the epidemic, the first quarter saw a large-scale contraction with a decrease of 35.8%, and then gradually improved. By the fourth quarter, the online and offline markets fully recovered, and the retail sales reached the highest annual level, reaching 294.1 billion yuan. The total retail sales of the household appliance market in 2020 was 833.3 billion yuan, down 6.5% year-on-year. Among them, the retail sales of color TV market was 128.8 billion yuan, air conditioners were 161.6 billion yuan, refrigerators 97.2 billion yuan, washing machines 73.6 billion yuan, and kitchen appliances 158.4 billion yuan. Household appliances are 213.7 billion yuan. Except for household appliances, other categories have declined to varying degrees from the previous year.

During the epidemic, online retail has played a very important role in home appliance consumption. In 2020, the retail sales of online home appliances were 419.9 billion yuan, a year-on-year increase of 14.48%, an increase of 3 percentage points over the previous year; the retail sales of home appliances in offline channels was 413.4 billion yuan, a year-on-year decrease of 21.13%. The proportion of online retail in the retail sales of the overall home appliance market has increased from 41.17% in 2019 to 50.4%. This is the first time that the annual penetration rate of online retail has exceeded 50%, and it is evenly matched with offline home appliance retail channels.

The "Report" pointed out that in 2020, my country's online retail sales of physical goods accounted for 24.9% of the total retail sales of consumer goods in China, and home appliance online retail could exceed half of the country, reflecting my country's degree of networking and digitalization in the field of home appliance consumption. The online and offline retail channels penetrate and influence each other in the integration, forming a new sales model, and jointly serving the consumption of home appliances. The home appliance consumer market provides a model for the digital and networked development of other consumer fields.


Consumption upgrade, home appliance products create "new" and "high"

The epidemic has caused changes in people's life concepts and ways, as well as changes in business and product forms. The "Report" pointed out that in the home appliance market in 2020, 4K/8K smart TVs with large screens, ultra-high definition, and artificial intelligence will be the main focus, smart, comfortable and healthy high-end air conditioners, and high-end refrigerators with large capacity, healthy disinfection and scientific storage will be the main focus. , High-end washing machines with high-capacity, healthy washing and drying functions, etc., are recognized and accepted by more and more consumers. As a result, the average price of home appliances has been raised, and the structure of home appliances has been gradually adjusted.

The report data shows that in 2020, the retail sales and retail sales of TVs above 10,000 yuan in JD.com have both increased by more than 70% year-on-year; WiFi smart air-conditioning market penetration has increased from 49% in the previous year to 63%; 501-600 liters of large-volume refrigerators The retail sales and retail sales of refrigerators increased by 60% and 57% year-on-year, respectively. The retail sales and retail sales of refrigerators above 20,000 yuan soared by 126% and 132%, respectively. Clothes dryers have become the biggest dark horse in the washing machine market, and market demand has expanded significantly, with retail sales increasing by 87.4%. The growth in second-tier and third-tier cities is particularly significant, with growth rates reaching 112.6% and 124.3%, respectively.

Affected by the epidemic and the overall market environment, the sales of traditional home appliances have declined, but small household appliances such as dishwashers, handheld vacuum cleaners, hairdressing and beauty instruments, wall breakers, air fryer, massage chairs, cleaning machines, etc. There have been different degrees of hot sales, which has activated the otherwise dull home appliance market and strengthened the role of home appliances in improving people's happiness.

The report shows that in 2020, the market size of dishwashers will accelerate expansion, with a year-on-year growth of 30.75%; online retail sales of scrubbers that combine wireless handheld vacuum cleaners and electric mop functions have increased by 1885% year-on-year; electric mops have increased by more than 260% year-on-year; The retail sales of American electrical appliances increased by 43% year-on-year, of which the retail sales of electric hair clippers increased by 165.8%.

The "Report" pointed out that the retail sales of upgraded products and subdivided functional appliances have performed well, reflecting people's demand for appliance consumption to improve the quality of life. Consumption upgrades and the transformation of the appliance industry are accelerating simultaneously.

The "Report" believes that 2021 will be the "year of product reinvention" for the home appliance industry, focusing on the current consumer demand for products-intelligence, health, segmentation, and personalization, and there will continue to be new features, New models, new products, and even new varieties appear. "New consumption" and "high-end" will be the main innovation directions for home appliances in 2021. In 2021, the home appliance consumer market is expected to usher in a qualitative change in product structure adjustment, which will promote consumption upgrading and industrial transformation through product structure adjustment.

Article information source-China Industry News



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