In the past few years, driven by the "home economy" and "lazy economy", small household appliances have been favored by young people by virtue of their small size, easy operation, high appearance, high cost performance and other characteristics, ushering in a period of rapid growth. However, as consumers gradually return to rationalization, the market has entered the stage of stock competition.
Some industry insiders pointed out that if you want to stand out from the fierce industry competition, you must be user-centric and form differentiated advantages, so as to get out of the homogenization dilemma. High-tech, intelligent, green and environmentally friendly products obviously have higher competitiveness and premium ability.
According to the financial reports released by 25 small household appliance listed companies, more than half (13) of the company's revenue declined, such as Dehao Runda, which mainly exports coffee machines, and Liren Technology, which started as an electric baking pan, fell by more than 30%. There are 12 companies that have achieved positive revenue growth, such as Johnson Co., Ltd., which is mainly engaged in ODM/OEM business of vacuum cleaners, and Bei Sui, which has been deeply involved in the intelligent portable massager product market for more than 20 years, with an increase of more than 40%.
The 5-10 places on the list are Lake Electric, Rock Technology, Feike Electric, Aojiahua, Xiaoxiong Electric, and Delmar. Among them, Xiaoxiong Electric and Delmar are both from Shunde, the "capital of China's home appliances", but their performances are very different.
Founded in 2006, Xiaoxiong Electric started from a yogurt machine, and now it has independently developed more than 80 product categories, more than 900 models, won more than 2,100 national patents, and exported to more than 100 countries and regions such as the United States, Japan, South Korea, and Thailand. Last year, the revenue was 4.712 billion yuan and the net profit was 445 million yuan, an increase of 14.43% and 15.24% year-on-year respectively.
Deerma, which was launched in May last year, is driven by the dual core brands of "Delmar" and "Philips", and its main products cover home environment, water health and personal care health. Last year's performance declined, with operating income of 3.153 billion yuan and net profit of 109 million yuan, down 4.64% and 42.93% year-on-year respectively. The company actively made adjustments, added the authorization of Philips fitness equipment, and will no longer carry out the "Vantage" brand life and bathroom products business in the future.
Joyoung, which ranked fourth, withdrew from the ranks of 10 billion yuan, recording revenue of 9.613 billion yuan and net profit of 389 million yuan in 2023, a year-on-year decrease of 5.54% and 26.58% respectively, and the third consecutive year of decline in revenue and profit. When it comes to the brand, many people will first think of the soymilk machine, as the so-called success is also Xiao He failure, the revenue of more than three percent of the food processing machine series fell by 10.18% last year.
Joyoung is not without trying to make changes, they proposed to transform to a "leading brand of quality small household appliances", on the one hand, to expand the product to induction cooker, rice cooker, wall breaker, air fryer, water purifier and other categories, on the other hand, its Shark (shark) brand launched vacuum cleaners, sweeping robots, electric mops, hand suction and other products. However, at present, the potential energy of the layout of new categories has not yet been transformed into the potential energy to drive growth, last year's nutrition cooker series, cookware series have declined in different ranges, only the Western-style electrical appliances series rose 2.60%.
Xinbao shares, which ranked third, handed over a report card with revenue growth of 6.94% to 14.647 billion yuan and net profit growth of 1.64% to 977 million yuan. Headquartered in Shunde, Guangdong, this small household appliance company currently operates under the main brands of Mofei, Dongling, Baishengtu, Mingzhan, Gelan, etc., and its products involve kitchen appliances, home care, baby appliances and other fields.
Ecovacs, a leading cleaning appliance company, achieved revenue of 15.502 billion yuan last year, a year-on-year increase of 1.16%, of which the total revenue of Ecovacs (service robots) and Timco (smart living appliances) accounted for 96.45%. The shipment of all-round sweeping robot products reached 1.551 million units, an increase of 68.6%; A total of 3.227 million units of Tim Ke Fuwan series floor scrubber products were shipped, an increase of 25.4%.
However, the company fell into the dilemma of increasing revenue but not increasing profits, and its net profit fell 63.96% year-on-year to 612 million yuan, mainly because of the intensified competition in the clean electrical appliance market, the main price segment of the product sinking significantly, and new products such as lawn mowing robots and Shiwan intelligent cooking machines are still in the net investment period.
In the small kitchen appliances market contraction (retail sales of 54.93 billion yuan, down 9.6% year-on-year; retail sales were 265.43 million units, down 1.8% year-on-year; The average price decreased by 8.0% year-on-year), but Supor achieved contrarian growth, with revenue increasing by 5.62% year-on-year to 21.304 billion yuan.
In addition to the main brand, Supor has introduced high-end brands such as WMF, LAGOSTINA, KRUPS, TEFAL and other high-end brands under SEB Group, so as to complete the full coverage of mid-to-high-end brands in the field of small household appliances and kitchen cookware. The company adheres to the differentiated product innovation strategy, continuously launches innovative and intelligent and healthy and nutritious creative products with cooking functions, accelerates the layout of small-capacity, multi-functional and outdoor product lines, and launches new categories such as portable coffee machines and intelligent stir-fry machines. Last year, it also released the industry's first smart food life co-creation platform "Cloud Cuisine".
In addition to the open flame cookware business and small kitchen appliances business, Supor actively expands new categories. In the household appliances business, it actively develops vacuum cleaners, garment steamers, electric heaters, air circulation fans and other categories. In the kitchen and bathroom appliances business, gas stoves and other products have been launched.