The refrigerator industry is in recession and sales will decline in the second half of the year

After experiencing a cold winter in the first half of the year, the refrigerator market has not shown any signs of recovery. Due to the uncertain economy in the second half of the year and the serious overdraft of consumer demand, the recession of the refrigerator industry has become a foregone conclusion. It is estimated that the retail volume of the refrigerator market will drop by 2.5% year-on-year in the second half of the year.

Data from iiMedia Research show that in the first half of the year, my country's refrigerator market retail volume was 17.25 million units and retail sales were 43.6 billion yuan, down 10.5% and 8.6% year-on-year respectively.

China's refrigerator manufacturers are facing a turning point in the development of the industry. In the first half of the year, the sales of home appliances increased by 5.3% year-on-year, and the growth rate slowed down by 6.2 percentage points year -on-year. Due to the overall increase in raw material prices, the profit margins of home appliance companies have become very small. With the decline of the real estate market and the overdraft effect of policies, the refrigerator industry has had a significant impact. This downward trend will continue for a period of time in the future. How can refrigerator companies break through in the second half of the year and improve their innovative development is the key.

In the first half of this year, the home appliance market seemed lively, but in fact the growth rate was slower than in previous years. Judging from the home appliance sales data for the first half of 2014 released by the Ministry of Commerce, the overall sales performance of home appliance companies was mediocre, affected by multiple factors such as the macroeconomic environment, the downward trend in the property market, and the early release of consumption potential .

According to data from Aowei Consulting, after the growth in recent years, the scale of the primary and secondary markets has stabilized and it is difficult to achieve a large increase. The primary and secondary refrigerator markets fell by 11.6% year-on-year in the first half of 2014. After experiencing the stimulus of the home appliance subsidy policy, the growth of the third and fourth tier markets has also encountered certain bottlenecks and it is difficult to return to the historical high point.

Specifically, in terms of product types, the mainstream two-door products have declined significantly, with their retail volume falling sharply by 16.6% year-on-year in the first half of the year. The main reason is the impact of three-door and multi-door products on two-door products. In terms of channel types, two-door products have declined in all channels, especially in local home appliance channels; three-door products have shown a downward trend in large chain channels, but have grown significantly in supermarket channels, and three-door products have grown significantly in the third and fourth-tier markets.

Although the overall market is in decline, the online market is still developing. In the first half of the year, offline terminal sales were 16.23 million units, a year-on-year decrease of 7.3%, and online sales were 1.64 million units, a year-on-year increase of 74.7%. The impact of online on the offline market still exists.

As a winner of Toutiao's Qingyun Plan and Baijiahao's Bai+ Plan, the 2019 Baidu Digital Author of the Year, the Baijiahao's Most Popular Author in the Technology Field, the 2019 Sogou Technology and Culture Author, and the 2021 Baijiahao Quarterly Influential Creator, he has won many awards, including the 2013 Sohu Best Industry Media Person, the 2015 China New Media Entrepreneurship Competition Beijing Third Place, the 2015 Guangmang Experience Award, the 2015 China New Media Entrepreneurship Competition Finals Third Place, and the 2018 Baidu Dynamic Annual Powerful Celebrity.