Facing consumption upgrade, kitchen and bathroom supplies requirements increase
With the improvement of the quality of life, consumers have higher and higher requirements for kitchen and bathroom products and small household appliances, which are facing a new round of consumption upgrades.
In the kitchen and bathroom products and small household appliances industry, the two sub-industries of small kitchen household appliances and cooking utensils are worth looking forward to. The first reason is that the consumption of small kitchen appliances and cooking utensils is relatively limited by the real estate, and mainly depends on the influence of consumer confidence. Second, it is less affected by the increase in labor costs. On the one hand, kitchen and bathroom products and small household appliances companies generally have higher profit margins. If the product price does not increase, the fluctuation of net profit will be less than 15% for every 10% increase in labor costs; on the other hand The low value of a single product makes it relatively easy to raise prices and has a high cost pass-through capability.
In 2009, the total market capacity of kitchen and bathroom products in my country was nearly 220 billion yuan, of which the kitchen supplies market was nearly 120 billion yuan (including 75 billion yuan for small kitchen appliances, 19 billion yuan for cooking utensils, and about 20 billion yuan for other kitchen utensils), and nearly 100 billion yuan for bathroom products. Yuan (including nearly 68 billion yuan for water heaters, about 1 billion to 1.5 billion yuan for the Yuba market, and the remaining 22 billion yuan for sanitary ware).
The compound growth of the industry of small kitchen appliances in the next three years will remain around 20 percent. On the one hand, some small kitchen appliances still have a lot of space for popularization and are still in a period of rapid growth, such as electric pressure cookers and soymilk machines;
Comparing the global per capita consumption of small kitchen appliances, China is still at a low level. In the past, China's small kitchen appliance companies were still lacking in innovation. They mainly introduced Western-style small appliances, such as microwave ovens, induction cookers, etc., but there were also cases of innovating and expanding into new markets according to the needs of Chinese characteristics, such as Yuba and soymilk machines.