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The range hood market has grown steadily, and the proportion of online channels has increased

by:Hench Hardware     2021-09-06
It was learned from the China Range Hood Summit Forum held in Beijing on September 24 that from January to August this year, the market sales of range hoods reached 9 million units, a year-on-year increase of 2.88%, and sales increased by 14.54% year-on-year. The relevant person in charge of the State Information Center stated at the forum that the increase in sales was much greater than sales, and the main driving force was the rapid expansion of the high-end market this year.

   The market grows steadily

   'Under the general slowdown in the growth rate of the home appliance industry, the range hood industry has maintained a relatively rapid development rate, and the growth rate is significantly ahead of the kitchen appliances and the overall home appliance industry.' Chen Gang, Deputy Secretary-General of China Household Electrical Appliances Association Said on the summit forum.

  According to the data provided by the JD Home Appliances Division, the average price of range hood products continued to rise from 2012 to 2014, from 1,172 yuan per unit in 2012 to 1,306 yuan today. In the offline market, this trend is even more pronounced. According to data from the National Information Center, from January to August 2014, the average price of range hoods in the offline market increased by 11.34%. Cai Ying, deputy director of the Information Resources Development Department of the National Information Center, said that the significant increase in the proportion of high-end products is one of the main reasons for the increase in prices. The ratio increased from 1.64% last year to 4.73%, the sales volume of high-end products increased by 197.76% year-on-year, and the sales volume increased by 200.85% year-on-year.'

The    range hood market grows steadily and the proportion of online channels increases

   High-end products in the range hood market have become a common trend in tier 1, 2, 3, and 4 cities. From January to August this year, high-end products in first-tier cities increased by 4.76% year-on-year, second-tier cities increased by 4.90%, third-tier cities increased by 4.36%, fourth-tier cities increased by 4.30%, and the average prices of high-end products in the four tier markets were similar. Take a domestic brand as an example. The average price of its products in first-tier cities is 4095 yuan, and the average retail prices in second, third, and fourth-tier cities are 4132 yuan, 4107 yuan, and 4,080 yuan.

   Cai Ying predicts that the average price of range hoods will maintain an upward trend for a period of time to come. Relevant forecast data show that in 2020, China will add 130 million new houses, driving the sales of range hoods of 324.7 billion yuan, and the market is still facing good development opportunities.

  Industry improvement is also reflected in the performance of listed companies. Boss Electric's operating income in the first half of the year increased by 38.74% over the same period of the previous year; the net profit attributable to shareholders of listed companies increased by 50.51% over the same period of the previous year. In the first half of the year, Vatti's operating income increased by 9.6% year-on-year, and the net profit attributable to shareholders of listed companies increased by 31.9% year-on-year.

  The proportion of online channels increased

   Compared with other home appliance products, the proportion of range hoods sold online was not high before, but there is a trend of catching up. According to data provided by Aowei Consulting, in the first eight months of this year, the online sales of range hoods were 552,000 units, accounting for 6.13% of the total sales. Online sales have gradually become an important channel for range hoods.

   According to comprehensive data from the National Information Center and JD.com, from January to August, the top ten brands of range hood sales overlapped more than 70% with the top ten online brands. In other words, most offline mainstream brands have already occupied a corresponding share online. However, from a data analysis point of view, in the current online range hood market, low-end products still account for a relatively large share, but the average product price has been on the rise and has maintained a relatively rapid growth rate.

  According to JD’s forecast data, in 2014, JD’s kitchen and bathroom sales will reach 3 billion yuan, of which 1.44 billion yuan, nearly half of which is smoke stoves; it is expected to exceed 5 billion yuan in 2015, of which smoke stoves will exceed 2.4 billion Yuan.
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