This report looks at the following areas:
- The current market landscape of major home appliance categories
- Key factors affecting industrial development and consumer demand (macroeconomic conditions, demographic changes, policy, technology, consumer trade-up and trade-down trends)
- Performance of leading major home appliance companies, product innovation trends and emerging brands
- Annual tracking of ownership rates and purchase interest in major home appliance categories
- Information channels and marketing content/methods that influence consumers’ decisions
- Our focus on TV: attractive features, brand preferences and perceptions of mainstream brands
Despite the implementation of stimulus measures, sustaining growth in the consumption of major home appliances remains a challenge. In a saturated market, focusing on both product development and brand building will become increasingly crucial.
Diana Shao, Director, China Insights
Collapse All
-
Executive summary
- Key issues covered in this Report
- Report Scope and Definition
- What you need to know
- The market
- The major home appliances market in China remains under pressure
- Companies and brands
- Comprehensive major home appliance companies maintain steady growth, with opportunities remaining for brand breakthroughs in segmented markets
- New product trends
- The consumer
- Key points of consumer insight
- Issues and insights
- What we think
-
The market
- Market overview
- The market for major home appliances remains sluggish, with weak demand, while the trade-in programme has become a key driver of growth
- Graph 1: growth rate of total retail sales of consumer goods and retail sales of *household appliances and audio/video equipment, 2018-2024
- Market overview for each category
- Market factors
- Summary of market factors
- While the national economy remains stable, the ongoing sluggishness of the real estate market continues to negatively impact household appliance consumption
- Graph 2: 2024 Q1-Q3 gross domestic product and growth rate
- Graph 3: growth rate of value sales and the sold floor space of newly built commercial housing nationwide, 2018-2024
- Employment prospects and workplace pressures remain challenging, while per capita disposable income growth continues to slow, and efforts to boost consumer spending still face certain pressures
- Graph 4: growth rate of per capita disposable income of residents nationwide (the actual growth rate after price adjustment), 2019-2024
- There is still untapped potential in the rural major home appliances market
- Graph 5: number of major home appliances owned per 100 urban households, 2019-2023
- Graph 6: number of major home appliances owned per 100 rural households, 2019-2023
- The trend of an ageing population continues, and the silver economy presents significant opportunities
- Graph 7: number and proportion of population aged 65 and above, 2019-2023
- China’s family structures are shifting towards smaller sizes, giving rise to the ‘one-person/two-person household’ economy
- Graph 8: family structure changes*, 2002-2022
- Generative AI has a profound impact on the technological and functional upgrades of major home appliances
- The trade-in programme acts as a stimulus to boost consumer spending on household appliances
- More than half of consumers are still inclined to maintain their current spending levels on major home appliances, but the desire to upgrade washer and dryer products is increasing
- Graph 9: desire to trade up for white goods, 2022-2024
- Despite a lack of clear inclination to trade up, consumers still ‘want it all’ when purchasing major home appliances, valuing performance, appearance, price and service equally
- Graph 10: important factors when purchasing major home appliances, 2024
-
Companies and brands
- Key Players’ Performance
- The three all-encompassing home appliance giants still maintain net profit growth in 2024
- Major TV companies show mixed performance
- Segmented markets offer brands opportunities for cross-category breakthroughs
- New product trends
- TV manufacturers are engaged in a fierce competition to leverage AI for superior picture quality
- However, marketing methods that utilise AI to capture attention should be approached with caution
- Smart remote controls have the potential to become the next ‘hit product’ in transforming the user experience with home appliances
- A new design format has emerged for dual-drum washing machines
- Breakthrough in drying technology directly addresses usage pain points
- Mini all-in-one washer-dryer units are gaining popularity
- Refrigerator compartmentalisation is becoming more refined
-
The consumer
- TV
- There has been no significant change in the willingness to purchase TVs, with women aged 30-39 and large households with children driving replacements
- Graph 11: planning to replace the TV at home, by gender, age and living situation, 2024
- Graph 12: TV ownership rate and purchase interest, 2023-2024
- Superior picture quality remains the key attraction for TV buyers, while enhanced control experiences serve as a strong driving factor
- Graph 13: attractive features of TVs, 2024
- With intense competition over picture quality, smart remote controls serve as a key factor in highlighting product advantages and differentiation
- Clear details in dark scenes and smart functions can effectively drive replacements
- Graph 14: TV features that attract buyers, by intention to upgrade, 2024
- Consumers continue to trust and support domestic brands, but foreign brands targeting the premium market still hold a certain appeal
- Graph 15: TV brand preference, 2024
- Sony demonstrates relatively high brand loyalty, while domestic brands still need to improve brand stickiness
- Graph 16: TV brand loyalty*, 2024
- Gen Z prefers Xiaomi, post-1980s favour Skyworth, and post-1990s/post-1995 focus on Sony
- Graph 17: previously purchased TV brands, by generation, 2024
- Graph 18: the TV brand most likely to be chosen when replacing an existing one, by generation, 2024
- Domestic brands still need to build a distinctive brand image
- Graph 19: TV brand perceptions, 2024
- White goods (refrigerators, washing machines, air conditioners)
- Traditional double-door/triple-door refrigerators still dominate in popularity, while more innovative multi-door and door-to-door models continue to attract consumer attention
- Graph 20: interest in replacing and purchasing refrigerators, by product format, 2024
- Graph 21: refrigerator ownership rate, 2023-2024
- Consumers’ willingness to replace refrigerators is not strong, while those interested in purchasing are relatively focused on door-to-door refrigerators
- Graph 22: purchase interest among respondents who do not own the following refrigerators, 2024
- Graph 23: replacement intentions of respondents who own the following refrigerators, 2024
- Post-2000s favour multi-door refrigerators, while post-1990s tend to prefer door-to-door designs
- Graph 24: consumers who do not own multi-door or door-to-door refrigerators but are interested in purchasing them, by generation, 2024
- The air conditioner market is under pressure as consumer demand for standing air conditioners weakens
- Graph 25: interest in replacing and purchasing air conditioners, 2024
- Graph 26: ownership rate of air conditioners, 2023-2024
- Tub washing machines still retain a certain audience, but demand and the market continue to shift towards drum models
- Graph 27: interest in replacing and purchasing washing machines, 2024
- Graph 28: washing machine ownership rate, 2023-2024
- Demand for dryers and all-in-one washer-dryer units is strong
- Graph 29: replacement and purchase interest in dryers and all-in-one washer-dryer units, 2024
- Graph 30: ownership rate of independent dryers and all-in-one washer-dryer units, 2023-2024
- Consumers are more inclined to purchase independent dryers
- Graph 31: replacement intention among consumers who own independent dryers/all-in-one washer-dryer units, 2024
- Graph 32: purchase interest among consumers who do not own independent dryers/all-in-one washer-dryer units, 2024
- Older consumers demonstrate a strong interest in dryers and all-in-one washer-dryer units
- Graph 33: consumers who do not own independent dryers or all-in-one washer-dryer units but are interested in purchasing, by generation, 2024
- Families remain the target audience for dryers/all-in-one washer-dryer units, but brands should not overlook smaller household segments
- Graph 34: consumers who do not own independent dryers or all-in-one washer-dryer units but are interested in purchasing, by living situation, 2024
- Marketing channels and content
- Targeting online and offline channels simultaneously is essential, with content platforms presenting opportunities for major home appliances
- Graph 35: channels for obtaining information on major home appliances, 2024
- Graph 36: channel distribution for obtaining information on major home appliances, % of consumers, 2024
- A well-thought-out strategy centred on the brand’s offline stores can lead to the greatest increase in consumer reach
- Mature consumers prefer one-stop channels that provide comprehensive information and value offline experiences, while younger consumers tend to favour online channels with strong social attributes
- Graph 37: selected channels for obtaining information about major home appliances, by age, 2024
- Professional content and user experience sharing hold the greatest marketing influence
- Graph 38: marketing methods and content that influence purchasing decisions for major home appliances, 2024
- Comprehensive ecommerce platforms still need to improve the provision of professional content
- Graph 39: selected marketing content that influences purchase decisions, 2024
- Brands can focus on investing in professional evaluations and usage experience sharing on short video platforms and Xiaohongshu, with influencers on Xiaohongshu having a greater impact than those on short video platforms
- Graph 40: selected marketing content that influences purchase decisions, 2024
- Brands’ official websites/apps should focus on professional content and showcase their technology
- Graph 41: selected marketing content that influences purchase decisions, 2024
-
Issues and insights
- The next smart upgrades for major home appliances should focus on enhancing core performance
- Intelligent upgrades and energy efficiency improvements are key directions for major home appliances
- Graph 42: the most important factors when purchasing major home appliances, 2024
- AI-powered enhancements in core performance and energy efficiency
- Build a distinctive brand image and strengthen the emotional connection with consumers
- Domestic home appliance brands still need to establish a strong and distinct brand image
- Highlight brands’ identities and style through collaborations with the art world
- Showcase humanistic care, fostering a deeper emotional connection with consumers
- Enhance the narratives of brands’ history and ethos, fostering stronger emotional connections
- Understand consumers’ garment care needs and seize the opportunities in the washing and drying sector
- The washing and drying sector offers significant market opportunities
- Consumers’ garment care needs are becoming more refined and diverse
- Consumers’ use of laundry detergents and laundry care products is diversified
- Graph 43: laundry and fabric care products used over the past 6 months, 2022-2024
- Consumers show a significant preference for natural, skin-friendly and hypoallergenic claims in laundry and fabric care products
- Graph 44: appealing claims featured on laundry and fabric care products, machine wash vs hand wash, 2024
- The washing and care of outdoor wear has gained attention, and home appliance brands can partner with laundry brands to offer expert guidance
-
Appendix – methodology and abbreviations
- Methodology
- Abbreviations
Why Choose Mintel?
Mintel is the world’s leading market intelligence agency. We show you how consumers think today and tomorrow. As a trusted partner to industry leaders, we deliver game-changing insights to businesses across the globe, fuelling their marketing and innovation strategies that will shape the future.
Access high-quality market research with every purchase of Mintel’s consumer reports. Here’s what else is included in your report purchase:
- Multiple Report Formats: Mintel’s reports are available in PDF and PPT formats, and are delivered straight to your inbox, so you can easily share Mintel’s market intelligence.
- Access to Mintel’s Clients Portal: After your purchase is completed, you’ll receive an invitation to join Mintel’s Clients Portal, providing instant access to supplementary insights from Mintel’s industry experts.
- Interactive Databook: Mintel’s bespoke consumer data is presented as an interactive website, so you can deep dive into your chosen topic, explore demographics and download specific statistics.
- Custom Presentation Tool: Easily incorporate selected research data and analysis into a tailor-made presentation to win over clients and stakeholders.
Below is a generic PDF sample report. Understand what you are buying.
Please Note: All of the figures, graphs, and tables in this sample report have been redacted.
£ 3,695 (Excl.Tax)
-
Download today with instant access
Pay via credit card or purchase order
-
Multiple formats provided
We send a PDF, Powerpoint and Excel Databook straight to your inbox. An interactive version of the report is also available on our online platform
-
Interactive databook included
Focus on the data that matters most to you with a customisable databook avaliable on our platform
-
Save up to 20% when you purchase multiple reports
Discount is applied directly at checkout
Next Starts Here
Whatever your business needs, we have the solution. From market intelligence reports to customised growth strategies.
Learn moreTrusted by global industry leaders
We use Mintel to inform our thinking and reinforce strategy. If you’re presenting new ideas, it’s essential they are underpinned by robust data and evidence, and clearly rooted in fact.
Mintel gives us all that. It’s a great brand and one that is trusted by clients.
Marie Stafford, European Director, The Innovation Group, VML
We have such a great working relationship with Mintel on lots of different levels. As an insight partner, they have helped us to develop our business planning in specific categories as well as supporting our creative process but they’ve also been super helpful with facilitating our events in their inspirational offices near St Paul’s.
They’re an innovative company, with a client-focused team that always delivers.
Abby Carvosso, Group Managing Director, Bauer Media Group
Mintel is really good for getting a handle on a particular category quickly. If we are working on a new business pitch in an area we don’t have much experience in, it’s a brilliant way to get up to speed with what’s going on, what’s changing and what the key trends are in any category.
It’s very rare now that anyone will plough through a 200-page report – that’s why the summaries are really useful. We know they are backed up by a lot of detail, so if you need to go into something in more depth you know the information will be all there for you.
Pauline Robson, Managing Partner, Mediacom
Working in a customer-obsessed organization means that data and insights have to be at our fingertips. Mintel’s reports help us support anecdotes with real quantifiable insights. The summary sections (which I really like) helps save time by giving a birds eye view of the content before spending time combing through the pages.
Our business review discussions are strengthened by the relevancy of the reports to help us better understand our customers. In addition, the customer service received from the team (especially in crunch periods) makes the process of understanding customer behavior even better.
Ngozi Ngonadi-Nkwoji, Senior Marketing Manager, Amazon
We utilize Mintel Reports, Trends and Comperemedia to mine for insights across the numerous business verticals that Epsilon serves, such as CPG, automotive, telecom, healthcare/pharma, retail and financial services.
By integrating Mintel insight into new business opportunities, we have been able to gain the competitive edge necessary to advance partnerships with global brands and key business players.
For our organization, it’s about depth and breadth. Having one without the other doesn’t enable success in our business.
Virginia Harvey, Secondary Research Manager, Epsilon
Next Starts Here
Whatever your business needs, we have the solution. From market intelligence reports to customised growth strategies.
Learn more
