“China home appliance market report” releases “new” and “high” consumption trends, and Jingdong boosts the upgrading of industrial structure



Recently, China Electronic Information Industry Development Research Institute released the report of China’s home appliance market in 2020 (hereinafter referred to as the report). According to the report, in 2020, the retail sales of China’s home appliance market will reach 833.3 billion yuan, and the retail sales of online home appliance products will reach 419.9 billion yuan, accounting for 50.4% of the total retail sales of the whole home appliance market. In addition, high-end products and household appliances grew significantly, and the overall structural consumption of the industry upgraded significantly.


《中国家电市场报告》发布消费“新”“高”趋势 京东助推产业结构升级

The release of the report coincides with the upcoming opening of awe, the largest home appliance and consumer electronics exhibition in China. Awe has always been the best place to see the trend of domestic home appliance industry and the trend of home appliance consumption. It is believed that the awe exhibition will also confirm the important contents of the report on the upgrading of household appliances industrial structure, consumption upgrading and industrial transformation.

As the “report” points out, an obvious change in the home appliance market in 2020 is that the sales of high-end products show a trend of “simultaneous rise in volume and price”. According to Jingdong data, consumers’ demand for TV products has been upgraded from “just can see” to quality, and “high-end, large screen, intelligent” has become the development direction. In 2020, the retail sales and retail volume of TV with more than 10000 yuan will grow by more than 70% year-on-year. The iterative innovation of air conditioning technology has effectively improved the consumption experience, making intelligent, energy-saving, comfortable and personalized the development trend of air conditioning products The market penetration rate of WiFi intelligent air conditioner increased from 49% in the previous year to 63%. The structural improvement brought by the accelerated expansion of the market scale of high-end refrigerator products became the main driving force for the growth of refrigerator market. The retail volume and retail volume of 501 l-600 L large volume refrigerator increased by 60% and 57% respectively year-on-year. Mainstream brands launched differentiated high-end products one after another. Clothes dryers have become the biggest dark horse in the washing machine market, and the market demand has expanded greatly, with the retail sales increasing by 87.4%, especially in the second and third tier cities, with the growth rates of 112.6% and 124.3% respectively.

It can be seen that the changes of consumers’ life concept, lifestyle and shopping scene all reflect consumers’ enthusiasm for multi-functional products, sub functional products and high-end products. In addition, the report also shows that in 2020, nearly 60% of home appliance consumers are under the age of 35. They are “new consumers” who advocate intellectualization, personalization and refinement. They pay more attention to the satisfaction brought by product function and even “appearance value” than price, and are willing to pay for quality, leading China’s home appliance consumer market into the era of quality. There is no doubt that the market is facing a “quality revolution”.

Jingdong appliance is the leader of this “quality revolution”, and puts forward the brand new idea of “renew your life”. On the one hand, it advocates quality consumption and guides consumers to upgrade their consumption; on the other hand, it promotes appliance manufacturers to constantly push through the old and bring forth the new, so as to jointly create “hot products” for consumers.

As a leading household appliance platform in all channels, JD household appliances has taken advantage of its big data to continuously explore product trend function points and consumer demand points for new scenarios. For example, in the post epidemic era, it promotes the demand of TV products for application scenarios such as family fitness, video conference and remote social networking, and promotes the air conditioning products to be intelligent as well as self-cleaning, bacteriostasis, humidification and dehumidification Function, refrigerator and washing machine are required not only to have large capacity, but also to have disinfection and bacteriostasis function, etc., to guide the consumption of household appliances towards healthy, personalized and quality consumption.

In addition, through the new product marketing project, Jingdong home appliance also delivers high-quality trend products, cutting-edge black technology and the concept of health and quality of life to consumers. The purpose is to change the traditional way of life with scientific and technological innovation, free consumers from household chores with new products and services, return life to “quality”, and improve consumers’ sense of happiness.

The year 2021 is regarded as the “report of home appliance industry reengineering”. As the core retail channel connecting supply and demand, Jingdong household appliances will continue to emphasize the exploration of new functions, new demands and new consumption of products, guide consumers to buy “new” and “high”, seek happiness for the public and profit space for the industry.

 


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