The year-on-year decline of small household appliance market in 2022 returns to rationality, and 2023 is full of opportunities

The year 2022 has passed, and the performance of the entire household appliance industry can be said to be very low. Even the small household appliance industry, which achieved countertrend growth in the early stage of the epidemic, has returned to rationality, and it showed a weak trend in 2022. Various product categories of small household appliances show different downward trends.

According to the general data of the traditional channel of AVC, the retail sales of small kitchen appliances (rice cookers, induction cookers, electric pressure cookers, soymilk machines, wall-breakers, blenders, juicers, electric kettles, fryers, health care pots, electric steam cookers, desktop single-function ovens, air fryers) totaled 52. 3 billion yuan in 13 categories, down 6.7% year on year; The retail volume was 22.049 million units, down 12.7% year on year.

Among them, online retail sales amounted to 38.6 billion yuan, down 2.9% year on year; The retail sales in the offline market were 13.43 billion yuan, down 16.0% year on year. In addition, Tiktok channel sales reached 5.74 billion yuan, accounting for 17.6% online. Although the performance of each sub-category of the household appliance industry is poor, it shows great potential.

According to the 2022 White Paper on the Trend of Global Small Home Appliances released last year, the per capita consumption of global small home appliances has reached the threshold of US $30, and the per capita consumption of developed countries can reach 1.5-2 times that of developing countries. As the largest home appliance market in the world, the Asia-Pacific region is full of opportunities, and China's small home appliance market is also full of opportunities.

What are the trends of small household appliances, or where are the future growth opportunities? The author believes that the development direction or growth trend of the small home appliance market is mainly in the aspects of green and healthy, intelligent and functional diversification, which will be the core direction for small home appliance products to achieve countertrend growth.

The first is the greening of household appliances. The trend of healthy small household appliances is becoming more and more obvious. Seizing the opportunity of healthy small household appliances can realize the renewal of products. In the post-epidemic era, people's demand for healthy small household appliances is generally high, and many small household appliances for personal care also pay more attention to people's health needs.

In addition, with the help of the national energy conservation and environmental protection policies, healthy and energy-saving household appliances are increasingly favored by consumers, such as mite-removal instrument, germ-removal sweeping and dragging all-in-one machine, air purifier, etc. These healthy household appliances will become one of the mainstream directions in the future.

Next is the intellectualization of home appliances. With the post-90s gradually becoming the main consumer, with the evolution of young consumers' concept of life and the upgrading of intelligent demands, there is an increasing demand for their hobbies, physical health and intelligent and comfortable life. Small household appliances such as multifunctional cooking machines, floor washers, instant water dispensers, fruit and vegetable washers, food heating plates, cat water feeders and other small household appliances will become the topic of small household appliances in 2022.

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For example, with intelligent programs, small kitchen appliances that can realize one-button cooking, as well as devices that can access to IOT, small appliances that can be controlled by mobile phones, and so on, intelligence will become one of the driving forces to promote the development of small household appliances in the future.

The last is the diversification of functions. With the development of the small home appliance market, the small home appliance products have gradually transitioned from a single function to a diversified function era. In addition, there are more and more types of small household appliances, and they are becoming more and more detailed. For example, there are mops, mops, and mops. The water dispenser is also divided into health pot, coffee machine, milk tea machine, and so on. The variety of small household appliances is also becoming more detailed.

With the improvement of living standards, all kinds of smart small household appliances and small household appliances have become the new favorites of consumers, and multi-functional products are the objects of people's pursuit.

Founder of the People's Home Appliance Network Yang Fan, a senior media person, said: "Although the small home appliance market has declined in 2022, the future of the entire small home appliance market is full of opportunities, especially in the trend of intelligent, healthy and green, and functional diversification. However, the market entry threshold of small home appliances is relatively low. While being vigilant against vicious competition in the industry, we should exert our imagination, create more innovative products, and achieve breakthroughs and transformation."

It is estimated that by 2023, the market size of China's smart small household appliances is expected to reach 192.4 billion yuan, full of opportunities and challenges.