Refrigerator market forecast for 2018: The industry will still be under pressure

In the wave of rising prices, the refrigerator market is coming to an end in 2017. The cost pressure on the supply side and the overall lack of demand at the supply end have prompted the company to continuously adjust its product structure and actively develop differentiated products in order to tap more market demand. .

The current raw material prices remain high. In 2018, the refrigerator industry will continue to be under pressure. The concentration of mainstream enterprises will further increase, and SMEs will face a situation of being reshuffled. Under the pressure of cost, the improvement of the average price of the industry is inevitable. The growth point of the market segment and the layout of differentiated products will become a new growth point for the industry. The forecast data of Aowei Cloud Network (AVC) shows that the refrigerator market in the 1818 is expected to have a retail volume of 33.96 million units, a year-on-year increase of 0.6%. The estimated retail sales amount is 96.4 billion yuan, a year-on-year increase of 2.6%. In terms of price, the average online price increased by 4.0% year-on-year, and the average price of offline increased by 7.0%. The omni-channel market was affected by the sharp increase in the online market. The average price of the industry was diluted to a certain extent, up 2.0% year-on-year.

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First, the brand's large pattern continues to be concentrated, and SMEs may be shuffled out.

From the previous "four golden flowers" to the current "1+4+N", the brand concentration of the refrigerator industry has been rising year by year. The competition of domestic-funded enterprises has become increasingly fierce, and European and American brands have remained basically stable. Japanese and Korean brands have either turned to high-end markets or focused on differentiated markets. The days of small and medium-sized brands have become more and more difficult.

On the one hand, the release of demand for the mains market is mainly from the replacement, in which the demand for refrigerators is more than 70%. In the update demand, brand influence and professionalism have become an important reference in the decision-making process of consumers, so high-end brands will have an absolute market advantage; on the other hand, in the face of increasing pressure on raw material costs, in addition to high-end products versus cost The pressure tolerance space is relatively plentiful. The scale advantage and competitiveness of mainstream enterprises are prominent. The size and high-end advantages of small and medium-sized enterprises are not available, and the living conditions are worrying. In addition, the online market “Yunmi” and “Gome” enter the brand. The number has slightly increased, but “Yunmi” has certain brand appeal and inherent consumer groups. The “Gome” channel has obvious advantages, online competition will be more intense, and the brand structure still has room for optimization.

Second, the market segments are different, and differentiated products are emerging one after another.

1. Air-cooled two or three doors still have space for demand

In the price competition in 2016, the price difference between two or three air-cooled and direct-cooled products was almost flattened, and the air-cooling technology in the two or three market quickly penetrated. Therefore, the share of two or three doors is in the general trend of structural upgrading. Exposed, but air-cooled two or three products still have a certain market stock.

2. The frequency conversion penetration is almost completed, and it is difficult to drive the price increase of the opening door.

For the door market, it was once used as a weapon for the price war in the refrigerator industry. The proportion of retail sales below 3K was as high as 20%. 2017 is a year of sharply adjusting the structure of the opening market. The monitoring data of Avi Cloud (AVC) shows that In 2017, the average price of door-opening products was 5,675 yuan, a year-on-year increase of 5.5%. The positive price growth is due to the rapid penetration of frequency conversion, and Aowei Cloud Network (AVC) analysis believes that leaving the penetration of frequency conversion, there is limited room for structural adjustment of the open door market, and the price is expected to rise only slightly.

3. Find incrementals in differentiated products

Air cooling, frequency conversion popularization, intelligent development is stable and slow, the market is currently lack of disruptive and revolutionary technology, the product is seriously homogenized, the layout of differentiated products highlights the company's research and development and innovation capabilities. At present, the products of special-shaped doors are emerging one after another, and the participation of enterprises is gradually increasing. The structure of the door of the refrigerator will be greatly enriched in the future. The space saving of ultra-thin and free-embedded products is highly compatible with the high housing prices of first- and second-tier cities, and the national preservation standards are constantly improved. The continuous breakthrough of fresh-keeping technology will provide a reference for consumers to choose high-quality refrigerators.

On the whole, the market demand for refrigerators is not strong, and the operating costs of superimposed enterprises are rising, and competition is intensifying. Future industry competition will become a competition for comprehensive strength. In 2018, SMEs are still focused on survival, while mainstream companies focus on optimizing product mix, strengthening key markets, and amplifying the advantages of differentiated products.

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