The major home appliances market is highly challenging. Brands need to increase the 'sense of value' through a combination of practical product iterations and services. Catering to the unmet needs of segment consumer groups can also be a way to drive business.
Binyan Yao, Research Analyst, Retail, China
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Executive Summary
- Key issues covered in this Report
- The market
- The company
- The consumer
- Graph 1: ownership and purchase interest in major domestic appliances, 2023
- Graph 2: expectations for refrigerators, 2023
- Graph 3: refrigerator brand ownership, 2023
- Graph 4: refrigerator brand preference for future purchases, 2023
- Graph 5: expectations for washing machines, 2023
- Graph 6: expectations for air conditioners, 2023
- Graph 7: expected services by brands, 2023
- Issues and insights
- What we think
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The market
- Market size and forecast
- Graph 8: retail value and growth of major domestic appliances, 2018-23
- Market segmentation
- Graph 9: retail value of major domestic appliances, by segment, 2018-23
- Graph 10: year-on-year growth rate of retail value of major domestic appliances, by segment, 2018-23
- Market factors
- Graph 11: sales area of commercial residential housing, 2018-23
- Graph 12: consumers' financial sentiment for the year ahead*, 2019-23
- Graph 13: upgrading intention for major domestic appliances in the next three months among owners who want to buy a new one, 2022-23
- Graph 14: numbers of major domestic appliances owned per 100 households, 2018-22
- Graph 15: housing status, by city tier, 2023
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The company
- Key players' performance
- Marketing activities
- New product trends
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The consumer
- Ownership and purchase interest
- Graph 16: ownership of major domestic appliances, 2021 vs 2023
- Graph 17: ownership and purchase interest in major domestic appliances, 2023
- Graph 18: purchase interest in door-to-door and multi-door refrigerators, respondents who have 2/3 doors refrigerators but plan to change vs all respondents, 2023
- Graph 19: respondents who do not have but are interested in buying the following major domestic appliances, by living situation, 2023
- Graph 20: do not have but are interested in buying the following major domestic appliances, by pet ownership, 2023
- Expectations for refrigerators
- Graph 21: expectations for refrigerators, 2023
- Graph 22: expectations for refrigerators, upgraders vs potential buyers, 2023
- Graph 23: expectations for refrigerators, by pet ownerships, 2023
- Refrigerator brand preferences
- Graph 24: brand ownership of refrigerators, 2023
- Graph 25: brand preferences of refrigerators for future purchases, 2023
- Graph 26: retention rate of current owners of major domestic appliance brands, 2023
- Graph 27: refrigerator brand preferences for future purchase, by living situation, 2023
- Expectations for washing machines
- Graph 28: expectations for washing machines, 2023
- Graph 29: selected expectations for washing machines, upgraders vs potential buyers of drum washing machines, 2023
- Graph 30: expectations for washing machines, by pet ownership, 2023
- Expectations for air conditioners
- Graph 31: expectations for air conditioners, 2023
- Graph 32: expectations for air conditioners, upgraders vs potential buyers of stand air conditioners , 2023
- Graph 33: expectations for air conditioners, upgraders vs potential buyers of mounted air conditioner, 2023
- Graph 34: expectations for air conditioners, by city tier, 2023
- Graph 35: expectations for air conditioners, by pet ownership, 2023
- Expectations for services by brands
- Graph 36: expected services by brands, 2023
- Graph 37: expectations of cross-brand trade-ins among owners who plan to change existing major domestic appliances, 2023
- Graph 38: expectations of cross-category trade-ins among owners who plan to change existing major domestic appliances, 2023
- Graph 39: life-related services, by gender and age, 2023
- Graph 40: home partial renovation services, by housing status and by owners who plan to change existing refrigerators, 2023
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issues and insights
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Appendix – size and forecast, methodology and abbreviations
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