Q1 has always been the off-season for the air conditioning industry (the peak season generally occurs from May to July). This year, the downturn in the online market of air conditioning is becoming more and more obvious.
According to the data of Whale Staff, from January to March 2024, the cumulative sales volume of air conditioners on the online e-commerce platform (JD.com, Tmall and Taobao) was about 2.7 million pieces, down 23% month-on-month and 15% year-on-year, and the cumulative sales were about 8.2 billion yuan, down 30% month-on-month and 20% year-on-year.
Judging from the current market performance, the air conditioning industry is very likely to usher in an overall price reduction this year. The average price of online air conditioners in Q1 this year has decreased by about 6% compared with last year. According to last year's level, the average market price of air conditioners during this year's peak season is expected to be about 8% lower than now.
*The data comes from Whale Staff (obtained and counted from public sources, and the data is for reference only)
The market pattern has largely not changed, and it is still a two-man competition between Gree and Midea. In the first quarter, Gree led Midea by a slight margin, with the cumulative proportion of the two reaching nearly 47%, and the cumulative sales reached 4 billion yuan. The quarterly sales of the remaining top brands such as Xiaomi, Oaks, Hualing, and Haier all exceeded 500 million yuan. (Detailed sales data can be viewed on the Whale Staff platform)
*The data comes from Whale Staff (obtained and counted from public sources, and the data is for reference only)
Judging from the price band data, the main reason for the decline in the average market price in Q1 is that the air conditioners at the price of "less than 1,000 yuan" are selling hotly, both in terms of sales volume and sales, which have increased compared with the previous quarter and the same period last year.
In this price segment, brands such as Shenhua, Pioneer, and Dongbao are popular choices, and it can be seen from the product attributes that such products are mostly used in rental houses and small households.
*The data comes from Whale Staff (obtained and counted from public sources, and the data is for reference only)
In the choice of daily household air conditioners, "2000 yuan to 3000 yuan" is the mainstream price, the new level of energy efficiency is the first choice, self-cleaning, frequency conversion cooling and heating is the foundation, and independent dehumidification is a characteristic plus.
The first best-selling product in Q1 was Yunjia 1.5 hp NhGc1B from Gree, with sales of 70,000+, and the second was Midea's cool power-saving 1.5 hp N8KS1-1, with sales of 60,000+. The price of both models is around 3000 yuan. In addition, Xiaomi N1A1, Hualing N8HL1Pro, Konka HV3, Oaks BpR3AQE, Haier B1KTA81U1 and other air conditioners with similar configurations are on the hot list, except for Konka, the average price is about 1500 yuan, and the average price of other popular products is between 2000 yuan and 2500 yuan.
*The data comes from Whale Staff (obtained and counted from public sources, and the data is for reference only)
As the temperature rises, the peak season for the air conditioning market is coming. We will continue to pay attention to the market performance and provide first-hand online data in a timely manner, so that interested friends can pay attention.
The data of Whale Staff comes from public channels, and the data acquisition and statistics may be incomplete, which is for reference only.
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