Affected by the high base in the same period of January 2017, the refrigerator market was bleak in January 2018. Although the market recovered slightly in February, it was still difficult to pull the trend in January. The performance of the refrigerator market Q1 exceeded expectations, mainly due to the release of potential demand in the third- and fourth-tier markets brought by the March promotion. Aowei Cloud Network (AVC) omni-channel data shows that the retail volume of 2018Q1 refrigerators was 6.56 million units, a year-on-year increase of 0.5%, and the retail sales amounted to 20 billion yuan, a year-on-year increase of 10.5%.

The expected growth in the first quarter, the refrigerator will still see differentiated competition in the future.
The expected growth in the first quarter, the refrigerator will still see differentiated competition in the future.

Look at the industry: In the context of the release of market demand in the third and fourth grades, the refrigerator Q1 market has five characteristics:

1. The cost pressure continues, and the industry's price increase is not decreasing. On the basis of the industry price increase in February 2017, Q1 price growth in 2018 is still double-digit, and there is still room for growth in the market.

2. Market competition is further divided. Mainstream domestic enterprises have handed in good answers in Q1. On the contrary, the joint ventures have lost their share under the premise of limited price growth.

3. The pace of upgrading the product structure of the industry has slowed down. The market share is stable, and there are still certain demand in the air-cooled two or three markets;

4. The company gradually improved the high-end layout, and the new product layout returned to normal. In 2017, the development of the high-end market has advanced by leaps and bounds. The company has accelerated the pace of high-end product layout. At present, the high-end layout is basically perfect, and the subsequent rhythm is slowing down. 2018Q1 new products are basically distributed in the main sales door and price segment, returning to normalization;

5. The high-end market is growing day by day, brand participation is stable, and competition is becoming increasingly fierce. The entry barrier for the refrigerator industry is low, but the threshold for the high-end market still exists. At present, enterprises that have broken through the high-end threshold have basically completed the layout of high-end products. In the future, the competition in the high-end market will be carried out in a small number of enterprises. The concentration of brands is lower and the competition is becoming increasingly fierce.

The expected growth in the first quarter, the refrigerator will still see differentiated competition in the future.
The expected growth in the first quarter, the refrigerator will still see differentiated competition in the future.
The expected growth in the first quarter, the refrigerator will still see differentiated competition in the future.
The expected growth in the first quarter, the refrigerator will still see differentiated competition in the future.
The expected growth in the first quarter, the refrigerator will still see differentiated competition in the future.

Look at the future:

First of all, the current mainstream companies are actively adjusting the product structure in order to release the cost pressure, but did not relax the grasp of the low-end market, but instead promoted the industry concentration further, the low-end market did not leave room for SMEs to survive. In the future, the entry barriers for high-end markets will become higher and higher, and SMEs urgently need to find a way out on the product side;

Secondly, the end product is still a topic but rich in content; permutation and combination-zone structure and open the door after another, following the three folio and F +, double off the launch, the future will be off to "multi-door off" direction of development;

Finally, fresh products continued popular these days, the industry standard, in contrast, but before the introduction of industry standards, enterprises need to build products with the label of improving vital recognizable brand influence and product.

The expected growth in the first quarter, the refrigerator will still see differentiated competition in the future.
The expected growth in the first quarter, the refrigerator will still see differentiated competition in the future.
The expected growth in the first quarter, the refrigerator will still see differentiated competition in the future.

Centrifugal fans

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Hangzhou Jinjiu Electric Appliance Co Ltd. , http://www.jinjiufanmotor.com

March 23, 2023