Kitchen appliances fluctuated in the first half of the year, and integrated stoves are still an important driving force for growth.

[House Secret News]The explosion of integrated stoves in the past two years has led to explosive growth in integrated kitchen appliances, which has also driven the rise of the kitchen appliance sector to a certain extent. However, with the influence of the external environment, the growth rate of integrated stoves has also begun to slow down, which has also caused the overall market size of kitchen appliances to begin to slow down.

According to total data from AVC, in the first half of 2023, the total retail sales of major kitchen and bathroom appliances (cigarettes, stoves, disinfectants, washers, built-in, collectors, electricity, gas, and purifiers) were 41.29 million units, a year-on-year decline. 1.3%, retail sales were 78.9 billion yuan, a year-on-year increase of 3.8%. It is worth mentioning that in the first half of the year, the integrated category represented integrated stoves with retail sales of 1.34 million units, down 1.3% year-on-year, and retail sales of 12.4 billion yuan, down 0.4% year-on-year.

While integrated stoves are declining, the house secretary also discovered several trends in integrated stoves:

First, structurally, steaming and roasting attract more attention. Integrated stoves were originally a collection of integrated capabilities such as sterilizers and steamers. Nowadays, the proportion of such products has gradually declined, while the proportion of integrated steaming and baking products has gradually increased. According to AVC monitoring data, in the first half of 2023, the retail sales of integrated stove online market steaming and grilling independent models + steaming and grilling integrated products accounted for 75%, a year-on-year increase of 9%, and the offline market share It was 59%, a year-on-year increase of 9%.

Second, “signs” of a price war are emerging. When the development of the industry is in trouble, it is inevitable that some companies will want to expand their market share through the strategy of “exchanging price for volume”. Nowadays, the integrated stove industry has also seen such signs. According to data from Aowei Cloud Network, the prices of some mainstream styles have shown a clear downward trend in the first half of the year. For example, the average price of online steaming and grilling integrated models fell by 318 yuan year-on-year.

In this regard, Zhai Mi has two suggestions for integrated stove companies: First, pay attention to the layout of products with different positionings. Although at present, the market share of products mainly integrating steaming and baking is rising, it should be noted that entry-level products with lower unit prices such as integrated disinfection cabinets and steamers should not be given up. In the long term, one of the bottlenecks in the expansion of integrated stoves lies in the rigid demand or penetration of each module. Therefore, such products can help lower the consumption threshold of the industry, thereby increasing the penetration rate and helping the industry return to the upward channel again.

The second is to avoid entering into a “price war”. At present, the industry is also showing signs of a price war, especially in the context of the overall decline of the industry. It is inevitable that companies will break the order of the industry in the future. Therefore, for leading brands in the industry such as Martian and Meida, companies need to stick to their principles, work together to eliminate all internal friction, and return the industry to healthy competition, in order to promote the healthy development of the industry.

Although integrated stoves have no signs of rapid growth in the past, integrated products are still one of the main directions for the upward development of kitchen appliances. Judging from the data, in the first half of 2023, the online market retail sales of integrated cooking centers-stove steaming and grilling parts increased by 286.4% year-on-year, and the offline market increased by 87.8% year-on-year; the online market retail sales of integrated dishwashers increased by 42.0% year-on-year. The offline market grew by 43.5% year-on-year. Therefore, for integrated stove brands, only by creating products that meet their needs based on changes in user needs can they have the opportunity to return to growth in a new stage and continue to promote the kitchen appliance industry.

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