Home appliances such as sweepers, dishwashers, and massage chairs are popular, and leading enterprises are busy expanding

With the Spring Festival approaching, cleaning and health appliances such as sweeping robots, dishwashers, and massage chairs are popular, becoming a new choice for the New Year. Leading enterprises such as Coworth, Fangtai and Ogawa for cleaning appliances, kitchen appliances and massage appliances have expansion plans in the New Year.

According to data from third-party e-commerce platforms, since January 4, 2022, the online sales of sweeping robots with sweeping and dragging functions have increased by 28.12% year-on-year; the amount of dishwasher orders has increased by more than 180%; the sales of smart single sofas have increased by more than double digits compared with the "double twelve" in 2021; the sales of hot smart toilets and toilet lids have increased by 49%, and the sales of touch-controlled multi-functional air heating bath masters, constant temperature showers, and electric towel racks have increased by 51%, 47% and 63% respectively. The cleaning appliances with sweeping and dragging functions are also sold in the Gome New Year Festival.

According to CCTV, in January 2022, the order volume of a Fujian Fu'an massage chair merchant increased by about double that of the previous month, mainly concentrated on guangdong, Shanghai and Chengdu, and the massage chair became one of the new options for young people to pay tribute to their elders.

Clean appliances are becoming a new driving force for the growth of the home appliance industry. According to Aowei Cloud Network (AVC), from January to November 2021, the retail sales of cleaning appliances in the Chinese market increased by 30.7% year-on-year to 27.8 billion yuan, and the retail volume increased by 3.1% year-on-year to 26.56 million units, together with dryers, integrated stoves, dishwashers, freezers, etc., becoming one of the few home appliances to achieve year-on-year growth.

The epidemic has made people pursue a cleaner home environment, and the "lazy economy" has made self-cleaning products sought after, and "functional integration + self-cleaning" has become the trend of the times. Aowei data shows that in the domestic online sweeping robot market, the penetration rate of self-cleaning sweeping robots is about 47% in 2021 and is expected to reach 65% in 2022; the scrubber that integrates vacuuming, mopping and self-cleaning mop functions is expected to increase domestic sales by 327% year-on-year in 2021, and together with sweeping robots, it will become a dual engine for the growth of cleaning electrical appliances.

"With functional innovation and performance upgrades, the average price of online sweeping robots has risen rapidly, and it has risen to 3142 yuan in November 2021." It is expected that the domestic sales of sweeping robots will decrease by 10% year-on-year in 2021. The contradiction between the high unit price of products and the difficulty of stimulating potential demand is one of the difficulties encountered by the cleaning electrical appliance industry. Tian Yali, general manager of the Aowei Cloud Network Ring Power Big Data Division, analyzed to the first financial reporter.

At the same time, new brands have entered, and the competition in the industry has become fierce, which has also made the products tend to be homogeneous. Aowei's data shows that in 2021, there are 30 new brands in the field of sweeping robots and 56 in the field of scrubbers. In the domestic cleaning electrical appliance market, there are more than 70 brands, mainly relying on more than 10 factories to produce, and the technical solutions are mainly water dust and gas dust.

Tian Yali reminded that at present, there are pain points in cleaning electrical appliances that need to be further solved, such as incomplete cleaning, residual water stains, hair winding, heavy products, breeding bacteria, sewage tank cleaning, inflexible roller brushes, difficult to clean under the bed, high noise, low coverage, etc. Real-time self-cleaning, automation and intelligence of products are the development direction of cleaning electrical appliances.

Due to the optimistic prospects of clean and healthy electrical appliances, leading enterprises have expanded production. Coworth (603486. SH) recently announced that it will invest 1 billion yuan to build a high-end intelligent life electrical appliance manufacturing center with an annual output of 12 million units in Suzhou, and will also invest about 1.2 billion yuan to build an annual output of 2GWH polymer lithium-ion battery project in Huzhou. Lake Electric (603355. SH) also recently announced its intention to issue 1.2 billion yuan of convertible bonds, of which 143 million yuan will be used for the new project of 1.25 million units of small household appliances with an annual output of clean and healthy living.

Some insiders have proposed that there is still room for innovation in the battery of clean electrical appliances, and the polymer lithium-ion battery is smaller, lighter in weight, and faster in charging, which is the future direction of technological development.

The leading enterprises of kitchen appliances and massage appliances are also ambitious. The relevant person in charge of Fangtai Group told media reporters, including First Finance, on January 13 that at present, the number of dishwashers per 100 households in China is less than 3, and the market potential is very large.

Previously, Ogawa (002614. SZ) in December 2021 in the exchange with investors said that the current domestic massage chair family ownership of about 1%, with the domestic per capita disposable income growth, massage chair consumption threshold decline, sales channels diversification, population aging and other factors superimposed, the penetration rate will gradually increase, the future in the future in the massage chair market share at the same time, will also strengthen the massage small electrical appliances product innovation and promotion. Times easier (688793. SH) also told investors that the domestic penetration rate of massagers is only 1.5%, and the penetration rates of South Korea and Japan are 15% and 20% respectively, and hope to further expand the "cake" in 2022.