In the first half of 2020, the outbreak of the new crown pneumonia epidemic has severely affected the home appliance market. However, as the epidemic prevention and control progress and the implementation of various consumer promotion policies take effect, manufacturers and merchants have actively adjusted measures in place, and the production and sales of the home appliance industry It has gradually returned to normal, and market demand has gradually recovered; At the same time, the advantages of the entire industry chain have also brought more overseas orders to my country's home appliance manufacturing industry. According to data from the General Administration of Customs, in 2020, China's home appliance industry exports have rebounded strongly since June. The total export value of the year was 66.128 billion US dollars, a year-on-year increase of 23.5%. The economic efficiency of the industry has declined slightly According to data from the Bureau of Statistics, in 2020, the main business income of the home appliance industry was 1.48 trillion yuan, a year-on-year decrease of 1.06%, and the profit amount was 115.7 billion yuan, a year-on-year decrease of 5.61%. In the first quarter of 2020, the operating situation of the industry is very severe, and it has continued to improve since April, and the entire year as a whole has basically made up for the loss in the first quarter. 
From the perspective of industry segments, the refrigeration industry represented by refrigerators and freezers has recovered faster, air conditioners have been adversely affected by the "cool summer" and installation under the epidemic, and the beauty and health care and kitchen appliances industries have achieved positive growth during the epidemic. The changes in these subdivisions fully reflect the new changes in consumers' home living needs during the epidemic.
In terms of large and small home appliances, in addition to air conditioners, the output of refrigerators, freezers, washing machines and other products in major home appliances has turned positive during the year. The increase in the output of refrigerators and freezers was mainly due to the booming export orders; among the small household appliances, the output of vacuum cleaners, electric baking, microwave ovens and other products that accounted for a relatively high export order also increased significantly. The size of the retail market is shrinking year by year In 2019, affected by factors such as the slowdown in macroeconomic growth and the continued tightening of real estate policies, China's major home appliance market has entered a stage of inventory competition dominated by renewal demand, and the scale of China's home appliance retail market has declined slightly. According to data from Zhongyikang, the overall retail sales of China's home appliance market in 2019 was 892 billion yuan, down 3.88% year-on-year. The 2020 new crown epidemic has made the already weak market worse, and retail sales have dropped by nearly 40% in the first quarter. As the domestic epidemic is well controlled, market demand has gradually recovered. According to the monitoring data of Aowei Cloud Network, the industry's annual retail sales were about 708.3 billion yuan, a year-on-year decrease of 11.1%. The demand in the second half of the year was basically the same as in 2019.
From the perspective of food and beverage categories, in 2020, except for refrigerators, the market demand for major appliances will be flat, and the rest of the categories will decline to varying degrees. Decline, the epidemic situation has brought demand to such small home appliances. In 2020, small cooking appliances such as air fryer and grilling machines, small cleaning appliances such as vacuum cleaners, electric mops, etc., and personal care appliances such as hairdressers and personal massagers will be popular by the "home economy". Sales have soared, and although some of the coldness has fallen, there is a chance to continue to maintain records. Including, dishwashers bucked the trend, which happened 25%.
Online sales have gradually become mainstream
With the increase in the rate of online professional retail and the optimization of core services of e-commerce in logistics, assembly, installation, after-sales, etc., and the accelerated integration of online and offline, more and more home appliance manufacturing companies are using professional e-commerce to carry out strategic cooperation to improve product lines Promotion on the market.
Data from Zhongyikang shows that in 209, the online connection of major domestic home appliances has reached 40% of the overall market, a further increase of 6 percentage points over the same period last year.
According to data from Aowei Cloud Network, under the special situation of 2020, the retail market has fully transitioned to a new pattern of online market dominance and offline market assistance. Even for large appliances such as air conditioners and electric water heaters that need to be installed on them, the proportion of online channels has already accounted for more than 50%.
The export market of home appliances grows against the trend
According to data from the General Administration of Customs, in 2020, China's home appliance industry exports have rebounded strongly since June. The total export value of the year was 66.128 billion US dollars, a year-on-year increase of 23.5%.
Under the new crown epidemic in 2020, the export of China's home appliance industry will continue to grow strongly. The main reason is that although the overseas epidemic continues to spread, some major export countries of China's home appliances have become "heavy-hit areas", but the home life and overseas supply chain brought about by social distancing The destruction has brought opportunities for the export of some Chinese home appliances, such as refrigerators and freezers. In addition, Chinese home appliance companies are actively exploring emerging markets in ASEAN, the government has accelerated the introduction of stable foreign trade policies, and the rapid development of cross-border e-commerce and overseas e-commerce channels, etc. All support the export of China's home appliance industry.
From the perspective of subdivisions, domestic large and small home appliances will continue the positive growth trend since the third quarter in 2020, and the growth rate will continue to expand, and the export of parts and components will be the same as last year. In terms of subregions, in 2020, the growth rate of China's home appliance industry exports to the three major economic regions of Asia, Europe, and North America will all hit the highest rate of the year, and the scale will also hit a record high; Latin America continues to improve; and Africa's growth rate turns positive for the first time.
2021 market development outlook
In 2021, the home appliance industry is still facing the background of a high retention rate of traditional home appliances and limited new demand. In addition, the entire domestic consumer enthusiasm has not been fully activated, and the industry will not be able to see all categories in 2021, and all platforms will see a sharp rise. . It is more likely to continue the recovery growth of traditional categories and the differentiation trend of rapid growth of emerging categories.
The above data and analysis sources refer to the "In-depth Investigation and Investment Strategic Planning Analysis Report of China's Home Appliance Industry" issued by the Qianzhan Industry Research Institute. At the same time, the Qianzhan Industry Research Institute provides industrial big data, industrial planning, industrial declaration, industrial park planning, industrial investment promotion, IPO fundraising feasibility research and other solutions.
(Source: Qianzhan Industry Research Institute)
