The small home appliance market was sluggish in the first three quarters, and frequent promotions in the fourth quarter welcomed growth opportunities

Recently, Ovi Cloud released omnichannel promotion data for January to September 2023. The overall retail sales of kitchen small appliances were 38.86 billion yuan, a year-on-year decrease of 9.6%, and the retail volume was 188.6 million units, a year-on-year decrease of 0.5%; Online retail sales decreased by 9.9% year-on-year to 29.61 billion yuan; The offline retail sales amounted to 9.24 billion yuan, a year-on-year decrease of 8.9%.

Remember in the early stages of the epidemic outbreak, the online market size of small household appliances reached 36.6 billion yuan in 2020, a year-on-year increase of 9.4%. However, in 2022, the growth of the small home appliance market returned to rationality, with a total retail sales of 52.03 billion yuan for 13 categories of small home appliances, a year-on-year decrease of 6.7%; The retail volume was 220.49 million units, a year-on-year decrease of 12.7%.

In recent years, the development of China's small home appliance market can be described as a roller coaster. At the same time, the small home appliance market has also welcomed rational consumers after the vigorous development of the epidemic. This is also because after the outbreak of growth in small home appliance products caused by the epidemic, the market gradually returns to a rational path.

Why did the small home appliance market return to a rational growth trend so quickly? Among them, the decline of the "homestead economy" is not unrelated. After the comprehensive opening up, consumers will go out and become weak in purchasing small household appliances, making it inevitable for small household appliance consumption to return to normal life.

Although the small home appliance industry has shown a sluggish trend, it has also shown many different changes. The main performance is that small home appliance products with high cost-effectiveness still receive attention; Secondly, there is a significant growth trend in high-profile categories such as coffee machines, floor scrubbers, and other products; Thirdly, small household appliances in demand still perform strongly and are very resistant to competition; Finally, high beauty small home appliance products are deeply loved by consumers.

During the 618 promotion period this year, the performance of small home appliance products was also very sluggish. According to comprehensive channel monitoring data from AVC, the retail sales of 618 kitchen small home appliances in 14 categories were 2.52 billion yuan, a year-on-year increase of -19.3%; Retail sales reached 11.16 million units, a year-on-year increase of -16.5%; The average price is 226 yuan, a year-on-year increase of -3.3%.

During the promotion period of the National Day holiday, as it was the first major holiday in the post pandemic era, people's interest in travel was significantly greater than shopping, which also made the performance of the household appliance industry this year not ideal. However, the upcoming Double Eleven Promotion will be a good time for the home appliance industry to showcase historical promotions, and it is believed that the small home appliance industry will usher in a breakthrough.

So, which small home appliance products will become popular choices for consumers during this year's Double Eleven? This should start with the trends in the small home appliance market and other aspects.

Firstly, the demand for small kitchen appliances will achieve stable sales and will not be affected by the trend of the "home economy". This includes electric rice cookers, electric kettles, and so on. These kitchen appliances are commonly used in our daily lives. In a situation of weak consumption, these just in need products will not be affected by the economy, after all, eating is a "top priority" thing.

Secondly, high-quality and refined small home appliance products will become the best-selling products on the Double Eleven. With the rise of a new generation of consumer groups, their demand for high-quality and refined small home appliance products is becoming increasingly strong