Teacher Wu Xiaobo's "Thirty Years of Stimulation" has a sequel called "Ten Years of Stimulation, Water and Fish". The book says that for the past ten years, the term "water and fish" is very appropriate.
"The rapidly expanding economic scale and continually escalating consumption capacity are like an arbitrary flood of water. It is anxiously looking for the boundaries of the territory, while the violently impacted part is equally anxiously under the pressure and discomfort of evolution. There must be big fish in the water, and the size of Chinese companies has changed tremendously during this decade. "
In the past decade, the number of Chinese companies in the Fortune Global 500 has increased from 35 to 115, many of which are familiar with home appliance companies. And also in this decade, China's home appliance industry has gradually gone from peak to weak, but it is also surrounded by various opportunities, such as Internet +, artificial intelligence, e-commerce dividends, new retail and so on.
If we say a cycle of ten years, what about the next ten years?
In the Chinese home appliance industry, the kitchen appliances category is not bad. Compared with the slow or negative growth categories in recent years, Zhongyikang's statistics show that the market scale of the kitchen appliance industry has been steadily increasing from 2015 to 2017, maintaining a growth rate of more than 10% per year.
Taking the 2017 data as an example, Zhongyi Kang estimates that the traditional kitchen appliances category in China's kitchen appliance market maintained steady growth last year, of which the retail sales of range hoods, gas stoves and disinfection cabinets increased by 12.8%, 11.5% and 8.8 %, The scale of the embedded kitchen appliance market reached 6.57 billion yuan, a year-on-year increase of 38.1%, with huge potential. It can be said that the kitchen appliance market is still the fastest growing in the home appliance industry, and even Zhongyi Kang predicts that China's kitchen appliance market will exceed the 100 billion mark in 2018, which undoubtedly excites and anticipates the industry and enterprises.
Taking only the hoods in kitchen appliances as an example, statistics show that in 2016, the number of hoods in my country was 28 per 100 households, while the number of hoods in Japan and South Korea reached 92 and 112 in the same period. There is still a great distance between our range hood and a theoretical household, especially the third and fourth lines and the rural market. The sales of the range hood may even double.
The fish in the water are big, but they can't escape the rule that big fish eat small fish. The market outlook is good, but the opportunity is only for those who are prepared.
Home appliances are the late real estate market. Taking cigarette machines as an example, it is understood that 80% of the demand for cigarette machines comes from decoration. It can be said that the demand for housing and decoration is directly related to the trend of the kitchen appliance market in the next 10 years.
However, many factors such as national policy control have led to a decline in the area of ​​commercial housing for sale from 2011 to 2014, which was in line with the growth rate of about 30%, to a negative growth in 2016. The area of ​​commercial housing for sale fell by 25% at the end of 2017. The continued decline in the area of ​​commercial housing for sale is undoubtedly an impact on the kitchen appliance market, but this does not mean that the kitchen appliance market has no chance.
It is reported that the urbanization rate of developed countries is about 70%, while China still has a gap. Relevant departments predict that my country's urbanization rate will not reach 60% until 2020, and the urbanization rate of third- and fourth-tier cities will have more room for improvement. Taking 2018-2020 as an example, according to the plan, only 15 million units of various types of shantytowns will be transformed in these three years. If this data is extended to 10 years, then urbanization will bring considerable profits to the kitchen appliance industry. In addition, the need for old house renovation and refurbishment should not be underestimated.
The report of the Nineteenth National Congress of the Communist Party of China pointed out: Socialism with Chinese characteristics has entered a new era, and the main contradictions in our society have been transformed into contradictions between the people ’s increasing needs for a better life and unbalanced and inadequate development. People's requirements for life are no longer limited to food and warm clothing, but also need to eat well and wear well. For example, people will consider using a dryer in addition to a washing machine to increase comfort.
Specific to the kitchen appliance industry, emerging categories such as steamers, dishwashers, and ovens are becoming new breakthrough points. Statistics show that in 2017, the market retail sales of dishwashers reached 4 billion yuan, a year-on-year growth rate of 140.8%, and the market size of embedded electric ovens reached 2.07 billion yuan, a year-on-year increase of 24.6%, much higher than the 12.7 range hood in childhood. %growth of. The emerging kitchen appliance market is rising, becoming a new growth point for the development of the kitchen appliance industry.
Shi Ting, general manager of Zhongyi Kang Kitchen and Bathroom Division, once pointed out that as the consumer market enters a new era, intelligence, health, high-end, and quality have become the mainstream trend leading consumption, and in the past few years it has also achieved the kitchen appliance market. Rapid expansion myth. However, for all enterprises, the intelligent and healthy upgrading of the industry is both an opportunity and a challenge.
Cheng Feng, deputy general manager of Beijing Suning Tesco pointed out that the current consumer groups who buy kitchen appliances are characterized by the pursuit of quality life, a certain consumption ability, strong ability to accept new things, and strong social attributes. Therefore, in the next 10 years, kitchen appliances companies need to figure out what consumers want.
On the other hand, the development momentum of the kitchen appliance industry will also be designed to compete with the internal strength of the company. Each brand needs to rely on the advantages of research and development technology and product upgrades to compete with the strong in the development of high-end and quality. Taking the hood brand share in the first quarter of 2018 as an example, Boss Electric and Fang Tai surpassed other brands with an absolute advantage of 26.4% and 23.1% respectively. Among them, Boss Electric defeated Fang Tai by 18.7%.
Opportunities for bossesThe strong is Hengqiang. On April 10, Boss Electric released its 2017 financial report. The announcement showed that in 2017 Boss Electric realized operating income of 7.017 billion yuan, an increase of 21.10% year-on-year, and realized net profit attributable to shareholders of listed companies of 1.461 billion yuan, an increase of 21.08%. At a time when raw material prices are rising and the market competition in the kitchen appliance industry is becoming fiercer, it is really dazzling for Boss to maintain a 20% growth. In addition, according to data from Zhongyi Kang, in 2017, the market share of boss electrical range hoods, gas stoves, disinfection cabinets, built-in steam ovens, and built-in microwave ovens ranked first in the industry.
For the kitchen appliance industry in the next ten years, Wang Gang, the secretary of the boss's electrical appliances, gave good news. He said that based on the background of the country's promotion of urbanization and consumption upgrading, the kitchen appliance industry is promising. But this does not mean that boss electrical appliances must wait for the wind. He Yadong, vice president of boss electrical appliances, once said that the company has always relied on technology and R & D innovation to promote the iterative upgrade of products to meet the needs of consumers. "As an industry leader, we cannot Wait for the wind to subvert yourself. "
"Subvert yourself" is the biggest and best opportunity for your boss to give yourself.
As early as 10 years ago, the boss electrical appliances began to increase investment, promote intelligent manufacturing, integration of the two, and resist the pressure of labor costs. This may have been "not much" necessary at the time, but it is now the best decision. And now, Boss Electric has overturned the previous model and created a series of new models and growth space that are “driven by user demand and driven by technologyâ€.
It no longer focuses on the subdivision of traditional kitchen appliances in smoke stoves, but instead focuses on "traditional + emerging categories", where smoke, stove, consumer, roast, steam, micro, wash, clean and trough open. Ye Danpeng, the director of the boss's electrical appliance market, pointed out that their opportunity is to "inherit the essence of Chinese cooking and seize cultural confidence."
Because of this, Ye Danpeng believes that all kitchen appliances have a chance to be redefined. The reason is very simple. Most of the Chinese kitchen appliances are the original appearance of imported Western products. But from the perspective of the global market, kitchen appliances that are produced by different cooking methods also have their own differences. For example, European and American roast turkey requires a large oven, while Japanese roast saury requires a small oven. But in China, because the emerging category market is not large, it has not been completely localized. Therefore, in emerging categories, Boss Electric adopts the strategy of technology localization and transformation, and wins the largest opportunity for itself to win the market.
In addition to the redefinition of technology localization and transformation, at the product level, Boss Electric also continues to subvert its own industry. "Central range hood" is the best example of the boss's revolutionary innovation and innovation in the industry. Its floor-to-ceiling products have long been used in the first building of the second phase of Aicheng City in Beijing. Owners jokingly call it "a shared range hood." This range hood is composed of a host, a terminal and a cloud background. It is responsible for the purification of the entire building. Residents do not need to install a conventional range hood in the kitchen, they just need to connect the exhaust vent to the public flue.
The Minsheng Securities Research Report once pointed out that the shifting of the growth rate and entering the new normal, the boss electrical appliances will increase investment in product and technology innovation, especially the production of digital intelligent manufacturing base, the company will further expand to bring the base increase. This also reflects from the side that Boss Electric has been driven by channels, and turned to products and technologies. Ye Danpeng said that 2014 was the dividing line between the boss and the appliance, and the company boldly invested in young people, resolutely cut off irrelevant products, focused and focused, this is the boss's determination to self-transform.
On the technical level, Boss Electric established the California Institute of Innovation and the Shenzhen Institute of Innovation. The former mainly completes the task of collecting cutting-edge technologies, and the latter mainly conducts basic research and application research on new materials and processes. At present, the company's R & D personnel account for 16.75%, reaching 662. In 2017, Boss Electric applied for 373 patents and obtained 139 patents, the highest number of applications and patents in the past years. It can be seen that, as stated by Ye Danpeng, Boss Electric has transitioned from the past growth model to a brand-new growth model centered on "user demand driven technology drive".
As of 2016, there are 7 companies in the global home appliance industry with a revenue of more than 10 billion U.S. dollars except for black electricity, including Whirlpool, Daikin Industries, Electrolux, and Bosi Appliances, as well as Gree Electric Appliances, Midea Group Qingdao Haier. Ye Danpeng admitted that Boss Electric has analyzed the market expansion paths of several leading companies in the industry, and concluded that category diversification and regional diversification are the main paths for the company to maintain long-term growth in the past century.
Therefore, Boss Electric has set a corporate growth curve for itself. Apart from the first "smoke stove", the rest are diversified in the offline market, diversified categories, and expanded in the international market. Now, Boss Electric has three brands. They are the “fame†for low-end users, the “boss†focusing on high-end users, and the “Dizer†targeting luxury brands. In addition, there is an open platform for the owner's kitchen-kitchen source, which integrates kitchen culture, appliances, custom derivatives, ingredients, kitchenware, kitchen soft decoration, cooking courses and so on.
The effect of the owner's electrical layout is also very significant, Di Ze specializes in ultra-high-end real estate fine decoration projects. At present, there are 45 Class A stores in Tier 1 and Tier 2 cities. In the third- and fourth-tier cities, Boss Appliances has accelerated the channel sinking speed through diversified layout. Only in 2015-2017, more than 400 specialty stores were added each year, which currently covers 60% of the county-level market.
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