Chinese home appliance companies, future growth depends on whether their new products can excite consumers. According to the findings, In November 2016, property sales growth slowed to 7.9 % from the 26.4 % year on year growth rate recorded in the previous month which is the slowest pace in a year.
Albany, NY -- (SBWIRE) -- 04/24/2017 -- In recent years, China's home appliance market has stepped into its plateau stage and are seeking the breakthrough. Traditional home appliance companies encountered the bottleneck of their development, and the market is generally weak, showing a lack of energy for further development. A new study, examining the overall industry and market status of home appliances in China have been broadcasted to the online repository of Market Research Hub (MRH). The title of the study is "Chinese Home Appliance Industry and Market, January 2017" which covers the shipment and sales volume, share ranking, export volume from January 2016 to January 2017.
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For Chinese home appliance companies, future growth depends on whether their new products can excite consumers. In past few years, Rising incomes, the expansion of chain enterprises, greater retail power over suppliers, and wider product ranges have all supported the growth of the industry. But then, increased industry competition in the recent years has resulted in profit declines, sales of home appliances have seen weak or negative growth, as companies slash product prices in order to maintain their sales and to increase market share. According to the findings, In November 2016, property sales growth slowed to 7.9 % from the 26.4 % year on year growth rate recorded in the previous month which is the slowest pace in a year.
The Home Appliance Store industry in China retails household electric appliances which include four major categories:
Washing machine
Refrigerator
Television
Air Conditioner
These goods are purchased from domestic and international manufacturers and wholesalers. Moreover, Sales volume of international and Chinese home appliance brands, including their market share ranking across these four categories are also highlighted in this study. When it comes to shipment volume of four major home appliances in China from January to December in 2016 based on statistics by China's National Bureau of Statistics, the refrigerator industry topped 92.4 million units, up 4.6% year-on-year.
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Due to the constant decline in the sales of home appliances, Chinese leading appliance manufacturers are focusing more on functions, design and brand reputation. Also, appliance makers are increasingly turning to social media to win the hearts and minds of China's young and internet-savvy consumers, who are driving the replacement cycle. Accounting for 19.95% of the total home appliance market in China, the online home appliance market is dominated by top-3 online retailers, which includes JD.com, Tmall.com and Suning.com.
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