Summary of China's Home Appliance Market in H1 2023

In the first half of this year, with the comprehensive restoration of normal economic and social operations, macroeconomic policies have been significantly effective, and the external environment of the home appliance market has continued to improve. GfK has launched the 2023 H1 home appliance market summary series, covering eight categories: household air conditioners, color TVs, refrigerators, range hoods, water heaters, cleaning appliances, end-of-life water purifiers, and air purifiers. By taking stock of market performance in the first half of the year, analyzing the advantages of popular products, and insighting industry development trends from the perspective of consumer psychology and demand changes, it helps enterprises grasp the market pulse, adjust marketing strategies in a timely manner, and find the right starting point.

Summary of the Household Air Conditioning Market

In the first half of 2023, the Chinese home appliance market as a whole experienced a mild recovery, and the household air conditioning category shone brightly. Retail sales and retail volume increased by 38.7% and 41.9% year-on-year, respectively. However, this also posed challenges for air conditioning sales in the second half of the year. The product structure of the market is accelerating upgrading, and sales channels are splitting. In the first half of the year, the retail sales of household air conditioners in social e-commerce channels increased by 319.9% year-on-year, and there is still significant room for development in sinking channels.

Summary of Color TV Market

In the first half of this year, the Chinese color TV market showed an overall growth trend due to the release of early demand, with retail sales reaching 16.94 million units and 58 billion yuan, with year-on-year growth of 3.6% and 5.3% respectively. The price scissors difference in the dual line market has increased, with an average online price of 2523 yuan and an average offline price of 5749 yuan, with a price difference of 2.3 times. The trend of differentiation between the two ends is obvious, and the segmentation of categories is accelerating. The scale of social e-commerce has rapidly increased, with a year-on-year growth rate of 223.9% in retail sales, further strengthening the brand leadership effect.

Summary of refrigerator market

The scale of the Chinese refrigerator market grew steadily in the first half of 2023, reaching 17.96 million units and 56.9 billion yuan, with year-on-year growth of 3% and 8%, respectively. The scale of offline retail sales exceeded that of online sales. The vitality of social e-commerce channels is astonishing, with year-on-year growth rates of retail sales exceeding 100% in the first half of the year. The market presents three major trends: the high-end trend is still ongoing; The development of dual line prices towards polarization; Multiple doors have become an important cornerstone of the refrigerator category.

Summary of Range Hood Market

In the first half of 2023, the overall retail sales of range hoods reached 7.74 million units and 17.7 billion yuan, with year-on-year growth of 1.1% and 5.7%, respectively. The proportion of retail sales in online channels is constantly increasing, and the share of top brands is expanding in both dual channels, reaching 23m ³/ Min and 24m ³/ Min air volume has become the mainstream configuration, and 600+high air pressure products continue to steadily increase.

Summary of Water Heater Market

According to GfK's online retail monitoring data, in the first half of 2023, the total sales revenue of the water heater market reached 27.9 billion yuan, an overall year-on-year increase of 2.5%; Offline channels still have an advantage, but online channels have shown better growth performance, with a year-on-year expansion of 7.6% in market share; The average price performance of water heaters in the dual line market is relatively stable, with only the average price of electric storage water heaters in social e-commerce channels showing a significant year-on-year increase; Large volume/high water output products are favored by the market, with zero cold water heat cooling. Social e-commerce and sinking channels are worthy of special attention.

Summary of Clean Electrical Appliances Market

The clean electrical appliance market performed steadily in the first half of this year, with retail sales reaching 17.7 billion yuan, a year-on-year increase of 5.5%. The scale of floor washers surpassed that of sweeping robots and became the first in the clean electrical appliance market. The market presents four major characteristics: the trend of brand head solidification has emerged; The offline market is recovering; More diversified channel distribution; The consumer group shows K-shaped differentiation.

Summary of the End of the Water Purification Market

In the first half of 2023, there were obvious signs of recovery in the end of the water purification market, with a total sales scale of 7.59 million units and 15.3 billion yuan, with year-on-year growth of 9.5% and 6.2%, respectively. The online market contributed 70% of sales and nearly 40% of sales, with social e-commerce channels showing the most impressive performance, with year-on-year growth rates of 195.3% and 203.4%, respectively. The kitchen water purifier still holds the top position in various channels, and products with high appearance and high throughput have an overwhelming advantage in the dual line market.

Summary of Air Purifier Market

Affected by air quality, the growth rate of the air purification market in the first half of this year slightly rebounded compared to the previous two years. The overall retail sales scale was around 2.17 billion yuan, a year-on-year decrease of 8.6%, with the online market being the main channel, contributing nearly 80% of the retail sales; The offline market performance in the North China region is particularly impressive. The products with high formaldehyde CADR value and high particle CADR value have become hot spots in the two-tier market, while the development of products with disinfection and sterilization function has not met expectations.