The home appliance industry can be divided into white appliances, black appliances, kitchen appliances, and small household appliances
The home appliance industry is divided into white electricity, black electricity, kitchen appliances, and small household appliances, among which, white appliances and kitchen appliances belong to durable consumer goods, while black appliances and small household appliances have the attributes of fast-moving consumer goods.
Due to the high replacement cost of white appliances and kitchen appliances, consumers pay more attention to the top brands
The kitchen appliance industry emphasizes functionality, especially range hoods, which is a good business with a high technical threshold and stronger functional attributes.
From fume removal, low noise, self-decontamination, and non-washing, aesthetics is the last product element, and even aesthetics can be ignored.
Kitchen appliances, the core of this business is brand and channels, one is to invest a lot of effort in advertising, at the same time, channel construction can not be soft.
The killer feature of Robam Appliances and many other home appliance companies is "agent shareholding". It adopts the agency system and gives shares, and the interests of the agents are deeply bound, so that the sales enthusiasm of the agents is more stimulated
This case is actually a study of agency system VS distribution system, which can stimulate the sales enthusiasm of agents to a greater extent, but at the same time, it also has to sacrifice some financial data: for example, low inventory turnover, slow cash flow, and small accounts receivable
Area of new homes sold, area of new homes completed.
In fact, many areas of the home appliance and home furnishing industry are closely related to these two data.
New home sales are a leading indicator, and new home completions are a lagging indicator
The growth rate of the industry is directly related to the growth rate of the completed area of new houses.
The performance growth rate of Robam Appliances in the first quarter of this year was less than expected, to a large extent, it may be related to the decline in the area of new housing completions last year
Regarding the future growth rate of Robam Appliances, the first is to look at the growth rate of the industry represented by the completion of new houses, which represents the driving force of exogenous growth
The first is to look at the endogenous sales growth drivers brought by the core of its business model, "agent shareholding".
Nowadays, the growth rate of real estate tends to decline, which is already a visible trend, then, in the next years, endogenous drive must become the core of performance growth in the field of home appliances and home furnishings.
For Robam Appliances, driven by endogenous growth, it depends on "agent shareholding" - in fact, it is not so difficult to judge the future trend, and it can also be roughly judged from the timing and cost price of its agent shareholding launch plan
Will boss appliances let their agents lose money, and what will be the result if they let a large number of agents be trapped and lose money. You can even think a little further about whether its management will allow such a situation to happen
We judge that it will continue to launch an agent stock ownership plan according to the operating situation in the future to boost performance.
Predict the follow-up and listen to the next breakdown
It does not constitute any investment advice, the stock market is risky, and you need to be cautious when entering the market