On March 29, China Electronics Information Industry Development Research Institute (also known as CCID Research Institute) released the 2022 China Home Appliance Market Report (hereinafter referred to as the Report). The Report shows that in 2022, the total retail sales of China's home appliance market will be 835.2 billion yuan, down 5.2% year on year. However, the retail sales of home appliances in online channels and sinking markets will increase significantly, stabilizing the overall market and reflecting the resilience of China's home appliance market. In 2022, the retail sales of China's wire market will increase by 4.24% year on year, and the contribution rate of online channels to household appliance retail will increase to 58.2%; The retail sales of home appliances in the sinking market increased by 2.7% year on year, and the contribution rate to the retail sales of home appliances rose to 34.1%. In 2022, household appliances will further upgrade to high-end, intelligent and green products, and household appliances consumption will steadily move towards the era of "digital intelligence".
Household appliance demand releases slowly, and online shopping has become the "stabilizer" of the market
According to the Report, in 2022, China's home appliance market will again withstand the triple pressure of "shrinking demand, supply shock and expected weakening", and the retail scale of the home appliance market will reach 835.2 billion yuan, which will be slightly higher than the level in 2020. Among them, the retail sales of the color TV market was 121.8 billion yuan, the air conditioning market was 163.8 billion yuan, the refrigerator market was 102.4 billion yuan, the washing machine market was 70.1 billion yuan, the kitchen appliances market was 149.2 billion yuan, and the household appliances market was 227.9 billion yuan.
In the context of repeated outbreaks, online retail has played a "stabilizer" role in household appliance consumption. In 2022, the online retail sales of household appliances in China will reach 486.1 billion yuan, a year-on-year increase of 4.24%, and the proportion of online shopping of household appliances will rise to 58.2%, which is far higher than the overall penetration rate of online shopping in China. The trend of "online shopping" and "e-commerce" of household appliances will be further consolidated, and household appliance consumption will steadily enter the era of "digital intelligence".
In 2022, the proportion of online shopping of all household appliances will reach a new high, and the contribution rate of e-commerce channels of most household appliances will exceed 50%. In particular, more than 80% of the most diversified and innovative household appliances are consumed online.
In 2022, the online and offline channels of China's home appliance market will work together to meet the challenges brought by the epidemic and other uncertain factors, and the pattern of "online channels leading and offline channels assisting" will be further consolidated. The leading household appliance retail enterprises actively embrace omni channel retail. JD and Tmall, two online based retail channels, continue to lead the way, and the market share of household appliances has steadily increased.
The county and township markets grew against the trend, and the consumption gap continued to narrow
In 2022, consumer promotion policies and "tap potential" and "renew" measures will be introduced one after another to further release the consumption potential of home appliances and boost the home appliance market. Policies related to home appliances, such as issuing consumption vouchers, promoting the exchange of old for new, and promoting the consumption of green smart home appliances, effectively promote the high-quality development of the home appliance market while stabilizing the market.
In recent years, the country has continued to increase rural revitalization efforts, and efforts have been made to promote county and township consumption. Measures such as "tapping the potential" and "renewing" have had an obvious effect on the sinking market composed of cities, counties, towns and rural areas below the third tier. The sinking market has become a new force in household appliances consumption. The Report points out that in 2022, the sales of home appliances in China's sinking market will grow against the trend, with retail sales reaching 285 billion yuan, accounting for 34.1% of the overall home appliance market, up from 31.5% last year. The consumption gap in the urban and rural household appliances market has continued to narrow, and the household appliances consumption structure in the sinking market has simultaneously changed to high-end, green and intelligent.
Household appliance consumption has been upgraded, and "digital intelligence" has flourished
In 2022, the "digital intelligence" that can provide users with new life scenarios and life values will be rapidly popularized. Self cleaning hand free washing wall breaking machine, automatic dust collection, water replenishment and drying sweeping robot, intelligent dust detection and sewage recycling floor washing machine, washing and drying integrated machine that directly dries clothes after cleaning, partition washing and protecting washing machine that solves the problem of mixed washing clothes, ultra-thin flat embedded refrigerator that integrates with multiple household styles and realizes the integration of household appliances and home appliances Embedded dishwashers and other "digital intelligence" have become new favorites of household appliances consumption.
The Report points out that the "new household appliances" that constantly expand the track segments not only provide support for stimulating consumption and tapping market potential, but also provide a breakthrough for the industry to find new growth points and promote the upgrading of product structure.
"New home appliances" reflect the trend of quality, high-end, healthy and convenient home appliances, and become an important indicator of consumption upgrading. The Report shows that in 2022, the sales scale of "new household appliances" will grow rapidly, and sales of some categories will blow out, with the overall growth rate far exceeding the industry average. Among them, the retail sales of game TV increased by 202% year on year, the self cleaning floor sweeping robot increased by 150% year on year, the fresh air conditioner increased by 237% year on year, the radio frequency beauty instrument increased by 110% year on year, the air fryer increased by 174% year on year, and the bass wall breaking machine and fruit and vegetable cleaning machine increased by 2370% and 457% year on year respectively.
The Report points out that "new appliances" are not exclusive to young people, and their users cover consumers of all ages. For example, people aged 26 to 45 turn more attention to their families, and intelligent and time-saving products such as floor sweeping robots, water heaters and household floor washers are more popular; Silver haired people over 55 years old mainly consider "healthy and happy life", and prefer products with simple operation and health preserving technology such as integrated cooking center, microwave oven and wall breaking machine.
The Report predicts that in 2023, with the further implementation of the optimization and adjustment measures for epidemic prevention and control, the in-depth implementation of the strategy of expanding domestic demand, and the acceleration of the construction of a new development pattern with the domestic circulation as the main body and the domestic and international double circulation promoting each other, the foundation for the stable recovery of the consumer market will be more solid, the Chinese household appliance consumer market will have a clear trend of stabilizing and warming up, and the market size is expected to recover to the level of 2021.