On the evening of August 30, Haier Zhijia released its 2023 semi-annual report. According to the financial report, the overall share of Casati in the first half of 2023 increased to 14.2%, continuing to maintain the high-end first. Among them, the share of 1W+ refrigerator accounted for 39.4%, the share of 1W+ washing machine accounted for 82.9%, and the share of 1.5W + air conditioner accounted for 29.2%.
In the special stage when the development of the home appliance industry is blocked, Casati's achievements are hard-won. Through the past, we find that the reason why Casati can get out of its own "Casati speed" is inseparable from the two-pronged combination of products and scenarios and the completion of the high-end brand system from the three dimensions of quality, value and market share.
In the future, Casati has the opportunity to continue to expand its influence in the home appliance market with such advantages.
The middle class is expanding and the demand for high-end home appliances is soaring
In the past two years, the development of the home appliance market has encountered bottlenecks, and many brands have locked their attention on the high-end market. Because, from a macroeconomic point of view, the high-end market is relatively little affected by factors such as the external environment and price fluctuations. At the same time, with the slowdown of the overall demand of the industry and the acceleration of the consumption upgrade process, the high-end business sector will be an incremental market for the home appliance industry in the future.
According to the "China Home Appliance Market Report" released by the China Electronics Information Industry Development Research Institute, consumption upgrading to activate the high-end market has become an important engine to drive the mainland home appliance market out of the trough rapidly. Behind this is the rise of more and more middle classes. According to World Data Lab, it is expected that by 2030, 1 billion people in Asia alone will join the middle class, and the global middle class will exceed 4 billion in 2021.
The emergence of more and more middle classes around the world is bound to bring about the improvement and expansion of consumption on the consumer side. Therefore, for the home appliance industry, high-end and scenario-based products will be more and more favored by users. Therefore, we see that more and more home appliance companies are carrying out high-end layout, not only Casati, Midea's COLMO, AEG, Hisense's Toshiba, ASKO, Skyworth's METZ, Fangtai's Bai Kitchen ROKI...
More and more home appliance companies are adding "high-end", in this context, consumers have more and more choice space, so only by bringing users an ideal experience can they truly seize the opportunity of the upward cycle, and the brand will continue to expand its business share.
Why can Casati continue to lead in the field of high-end home appliances?
As we all know, the past few years have been the "darkest moment" for the development of the home appliance industry. As far as 2022 is concerned, according to the "2022 China Home Appliance Industry Annual Report" guided by the China Household Appliances Research Institute and compiled by the National Household Appliance Industry Information Center, the export and domestic sales scale of the home appliance industry will decline in 2022, of which the export scale of the home appliance industry will be 568.16 billion yuan, down 10.9% year-on-year, and the domestic sales scale of the home appliance industry will be 730.72 billion yuan, down 9.5% year-on-year.
In the context of industrial growth and intensified high-end competition, Casati has achieved 10-fold growth in 6 years. How does Casati sustain long-term growth? In summary, it may be related to two capabilities: First, it meets the needs of specific scenarios. For high-end home appliances, brands want consumers to pay for them, and need to reflect differentiation in the design or service of the product itself to meet the needs of some specific scenarios, Casati is the same in the design of home appliances.
For example, the F+ free built-in refrigerator has narrowed the heat dissipation gap of the refrigerator from 10cm to 2cm for the first time, opening the era of home appliance and home integration; The "air washing" equipped with the washing machine is praised by foreign media as the third way of washing and caring after water washing and dry cleaning; The world's first "one-machine double-barrel" "zone wash" washing machine, which not only leads the industry in balance, stability and noise performance, but also automatically identifies and finely cares for different types of fabrics... Together, these create the differentiation of Casati's high-end products.
While exploring user pain points and needs and constantly innovating products, Casati is also iterating on technology. At present, Casati has mastered a number of world-leading core technologies. For example, its refrigerator fresh-keeping technology jumps out of the traditional low-temperature preservation mode, and adopts technologies such as oxygen barrier dry and wet storage, MSA oxygen control and preservation; The dishwasher is equipped with a 7X cleaning system, which can cover the whole water flow of 360°, and with the continuous high temperature of 70°C, it can efficiently disintegrate large oil stains and achieve disinfection, cleanliness and brightness.
In addition, Casati not only has high-end home appliances, but also high-end products such as conductors, galaxies, connoisseurs, etc., in addition, Casati also has a layout in terms of smart scenes. For example, in the Casati smart living room, smart devices can be interconnected, and after coming home from work to brush your face and enter, the lights, curtains, and air conditioners in the home will automatically turn on; If you don't know what to wear before going out, you can quickly get a dress recommendation through the virtual fitting of the smart cloud mirror; The selected clothes have folds, put it in the washing and drying machine, and the clothes can be sterilized and shaped in 15 minutes. The smart living room with better interactive experience and the smart bedroom with better sleep experience give Casati the advantage of smart scene experience that is different from the functional experience of single products in the industry.
Second, Casati has successfully created a high-end brand image. In the field of home appliances, brand image is an important competition dimension between manufacturers. Therefore, in order to fight the siege, Casati may need more refined and differentiated brand building while facing competitors, especially in the home appliance industry, homogenization, low value, price war has become the negative characteristics of this market, if Casati can not make a breakthrough in the brand, it is likely to fall into a "bitter battle", it is difficult to obtain greater upward space.
Born in 2006, Casati has been adhering to the integration of exquisite life into brand style, product concept and design language, and in the past 17 years, Casati has completed the high-end brand system in three dimensions of quality, value and market share from both products and scenes.
In the past, Casati has created a variety of social life topics that reflect the soul of international high-end brands with the taste of brand art and the charm of cutting-edge science and technology, which have been effectively disseminated around the world. This has also allowed its influence among high-net-worth individuals to expand. For example, the Italian royal princess, the governor of the Perlis state in Malaysia, the descendant of Luxembourg's high-end watch and jewelry brand, as well as the 600-year-old owner of the Ten Torre castle in Belgium, the 300-year-old Hinwick estate owner in the UK, and the villa owner worth 200 million yuan on the shores of Lake Geneva in Switzerland, etc., have all been attracted by Casati's high-end products and smart scenes, and have become loyal users of Casati. From the data point of view, industry data shows that Casati has ranked first in the high-end market share for 6 consecutive years.
Through technical advantages, innovation capabilities, and additional value added to products, Casati has formed a unique and high-value-added experience advantage for users, making it a model of high-end home appliance brands in the hearts of users, naturally leading in the field of high-end home appliances, and making Casati a model for China's home appliance industry, especially in the high-end field.
Conclusion: At present, the high-end market is one of the few sustained high-growth tracks in the home appliance industry. Under the favorable environment, Casati has achieved good results with its innovative ability and brand effect. However, in the face of the challenges of more and more high-end brands, Casati, which continues to lead, cannot relax its vigilance, and needs to continue to consolidate the moat and further expand its market share to ensure a sustained leading position.