The home appliance market has strong resilience and great potential
Since the beginning of this year, despite the impact of the new crown pneumonia epidemic, the characteristics of my country's home appliance market with strong resilience and great potential have not changed.
A few days ago, the General Office of the State Council issued the "Opinions on Further Unleashing Consumption Potential and Promoting the Sustainable Recovery of Consumption", proposing measures such as vigorously developing green consumption and fully tapping the consumption potential of counties and townships.
"Policy guidance and basic demand-driven are expected to add a touch of color to the 'May 1' home appliance market." Liu Jiyuan, research director of the kitchen and bathroom big data division of Aowei Cloud, said that as the impact of the epidemic is gradually brought under control, the implementation of consumer policies and measures will be effective. , coupled with the high efficiency and multi-contact force of e-commerce, the home appliance market may experience "small explosive" growth in the later period.
Consumer coupons drive sales
On the first day of the "May Day" holiday, Wang Jingyu, a resident of Dongcheng District, Beijing, and his lover entered the Lenovo Bridge store of Suning Tesco in Beijing to buy home appliances with a negative nucleic acid test certificate within 48 hours.
"When you buy a refrigerator, buy a refrigerator that has a large capacity and does not occupy a lot of space. Energy saving is very important." Wang Jingyu introduced that his home is a one-bedroom house of 60 square meters.
After careful selection, Wang Jingyu and his wife purchased a free built-in refrigerator and an all-in-one washing and drying machine, both of which are first-class energy-efficient products.
Among them, the total volume of the refrigerator is 500 liters, and it also has the function of oxygen control and preservation.
Thanks to the Beijing green energy-saving consumption coupons and promotional offers, they saved 2,200 yuan this time.
According to the policies issued by Beijing to promote green energy-saving consumption, from April to September this year, green energy-saving consumption coupons will be issued to consumers in Beijing to encourage consumers to purchase and use green energy-saving products. 20 categories of washing machines, laptops, tablets, etc.
"At present, consumers have received 124,800 Beijing green energy-saving coupons through the Suning Tesco APP, driving home appliance sales of 35 million yuan." Lu Fuyan, Marketing Director of Beijing Suning Tesco told reporters that since April, Beijing Suning Tesco has achieved high energy efficiency. Sales of air conditioners and refrigerators and freezers performed well, with a year-on-year increase of 180%.
According to feedback from manufacturers, affected by the epidemic, residents in some areas have increased demand for food storage, which has driven the sales of refrigerators and freezers.
At the end of April, the sales data of ice-cold products of Hisense Refrigerator Company increased significantly compared with the beginning of April.
The relevant person in charge of Hisense Refrigerator Company said that the company has increased the production and supply of large-capacity refrigerators and household freezers, and strengthened technology upgrading and research and development.
The newly launched WILL SPACE super space refrigerator, which is healthy and fresh, has an inner wall thickness of only 33 mm. Compared with ordinary refrigerators, the inner space is larger, the amount of foaming material is greatly reduced, and the emission reduction effect is obvious.
Rapid growth of new categories
At present, the epidemic prevention and control is normalized, and the flow of people in stores is reduced. Home appliance manufacturers are actively carrying out marketing innovations, expanding the market through online and offline integration, linking users more efficiently, and promoting conversion.
On the occasion of "May 1st", Robam Electric held a large-scale live broadcast online, and corporate executives brought star experience officers to the promotion.
After large-scale marketing and promotion in the early stage and the organization of various outlets, the cumulative exposure of the live broadcast on the entire network was 64.588 million, the number of viewers was 626,000, and consumers booked nearly 40,000 orders.
Among them, there are more than 10,000 dishwashers.
Ye Danpeng, CMO of Robam Electric, said that at present, domestic kitchen appliance brands attach great importance to the development of emerging categories such as dishwashers and integrated stoves. The increasing investment in research and development and the accelerated pace of product innovation have made the demand for new categories more and more strong.
The company must meet the needs of consumers at all levels for high-quality kitchen life with more complete categories and better products.
Compared with the pressure on the home appliance market, the sales of emerging categories maintained a rapid growth momentum.
According to the total data pushed by Aowei Cloud, the retail sales of dishwashers in the first quarter of this year increased by 20.6% year-on-year, and the retail sales in the second quarter are expected to increase by 23% year-on-year.
During the "May Day" period, the retail sales of clothes dryers are expected to increase by 55% year-on-year.
"The penetration rate of dishwashers in my country is now about 2 units per 100 households, which is much lower than that of Japan, Italy and other countries. In the long run, the market still has a lot of room for growth." Liu Jiyuan said that people's yearning for a better life has raised the issue of home appliances. New demands and market segment business opportunities continue to emerge.
With the expansion of usage scenarios, there are clothes dryers in the balcony scenario, integrated stoves and dishwashers in the kitchen scenario, and projectors in the living room scenario.
The Politburo meeting of the CPC Central Committee held recently called for timely response to market concerns, steadily advancing the reform of the stock issuance registration system, actively introducing long-term investors, and maintaining the stable operation of the capital market.
Recently, relevant departments have intensively put forward measures to steadily promote the entry of medium and long-term funds into the market.
Experts said that in the short term, these measures will further stabilize investor expectations, boost the confidence of all parties, and maintain market stability; in the long run, medium and long-term funds from various channels are expected to further expand the proportion of equity investment and become my country's capital market. stabilizer" and "ballast stone".
The proportion of institutional investors has steadily increased
Recently, due to the increase of unstable and uncertain factors, A-shares have experienced sharp fluctuations.
How to guide more medium and long-term funds to enter the market to stabilize short-term market fluctuations and further improve market resilience has become one of the key tasks promoted by the regulators.
On April 26, the China Securities Regulatory Commission issued the "Opinions on Accelerating the Promotion of High-Quality Development of the Public Fund Industry", proposing to increase the proportion of medium and long-term funds.
Continue to promote insurance, wealth management, trust and other asset management institutions to increase the actual proportion of equity investment through direct investment, entrusted investment, and public funds.
Zhang Jun, Chief Economist of Morgan Stanley Securities (China), said that in comparison, short-term funds excessively pursue short-term gains, and an excessively high proportion of them will cause large short-term market volatility, push up systemic financial risks, and be detrimental to the financial market. Healthy and stable development. "Accelerating the process of institutionalizing market investors and accelerating the entry of medium and long-term funds such as pension funds and bank wealth management funds into the market is of great significance for the long-term and healthy development of the capital market."
In recent years, the proportion of shares held by institutional investors in the circulating market value of A shares has generally shown an upward trend.
The data shows that the proportion of professional institutional investors in the market value of tradable stocks has risen from 18% at the beginning of 2019 to 24.6% at the end of 2021.
At the same time, foreign capital has gradually become an important supplier of medium and long-term funds.
Fang Xinghai, vice chairman of the China Securities Regulatory Commission, said at the Boao Forum for Asia 2022 annual meeting that in recent years, great progress has been made in attracting funds from foreign institutional investors. From 2019 to 2021, a total of 887.4 billion yuan of foreign capital was introduced in the stock market, accounting for the circulating market value of A shares. The ratio is about 4.5%.
However, experts said that compared with overseas mature markets, the overall share of stock market value held by institutional investors in my country is still relatively low, and there is much room for improvement in the future.
"Overseas medium and long-term investors are still optimistic about China's economy and renminbi assets. Under the background of increasing financial opening in China and accelerating the integration with international standards at the institutional level, more overseas medium and long-term funds can be attracted and imported." Zhang Jun said.
The entry of personal pensions into the market brings new opportunities
Not long ago, the General Office of the State Council issued the "Opinions on Promoting the Development of Individual Pensions", which clarified that individual pension participants can choose to purchase financial products such as savings deposits, bank wealth management, commercial pension insurance, and public funds that meet the regulations.
The China Securities Regulatory Commission stated that the "Opinions" will help accelerate the construction of a new pattern of benign interaction and coordinated development between pensions, capital markets and the real economy.
The capital market will help pensions to share the development achievements of the real economy, promote the long-term preservation and appreciation of pensions, and actively respond to the aging of the population; pensions are long-term, standardized and large-scale, and through active investment in the capital market, provide more for the real economy. Long-term and stable development funds.
Industry insiders generally believe that the development of personal pensions is expected to bring more incremental funds to the capital market, which will help foster and develop long-term institutional investors and further boost market confidence.
Li Qiusuo, managing director of the research department of CICC and a strategic analyst, said that the construction of the personal pension system is conducive to the development of new businesses of relevant banks, insurance, public funds and other financial institutions, and is also expected to bring new types of long-term investors to the capital market. .
From the experience of some mature markets, the establishment of the relevant pension insurance system has brought long-term funds to its capital market, which has played a good supporting role in the long-term stable development of its stock market.
"The income payment characteristics of personal pensions determine that they are aimed at long-term value preservation and appreciation, with high security and robustness. Therefore, the vigorous development of personal pensions will provide long-term and stable capital inflows for the capital market, and contribute to the stability of the capital market. Development plays a positive role," said Li Zhan, chief economist of China Merchants Fund Research.
Great potential for trade-in
Taking advantage of the "May 1" promotion, Wang Kangjin, a resident of Jinshui District, Zhengzhou City, went to a local store to buy home appliances.
"My appliances have been used for many years, and I want to replace the refrigerator, washing machine, and air conditioner while taking advantage of the subsidy for trade-in appliances." Wang Kangjin said that he lives in an old house and has great restrictions on the size and location of appliances. The merchant also dispatched home improvement designers in advance. Come to measure.
Since March this year, Zhengzhou City has launched a home appliance trade-in activity, that is, a subsidy of 20% of the actual transaction price of a single new home appliance, with a maximum subsidy of no more than 500 yuan per unit.
Trade-in activities are widely welcomed by consumers.
At present, the sales of my country's home appliance market show obvious characteristics of changing from stock to increment.
The China Household Appliances Service and Maintenance Association predicts that the increase in the stock of household appliances in my country will exceed 50% this year, which will become a new trend in the consumer market.
On April 26, the activity of "setting off a larger-scale home appliance in hundreds of cities, thousands of villages, and ten thousand households, benefiting the people, collecting the old and renewing the new trend" was launched.
Liu Xiumin, chairman of the presidium of the China Household Appliances Service and Repair Association, said that this event will build a new scene of home appliance consumption to awaken consumers' new concept of home appliance consumption and promote the replacement of old and new home appliances.
Take advantage of professional investors
In recent years, the deepening reform of my country's capital market has continued to advance, creating conditions for attracting various institutional investors, and professional institutional investors have developed rapidly.
Taking public funds as an example, the scale of public funds and equity funds has achieved large-scale growth.
Data show that by the end of 2021, the total size of public funds exceeded 25.6 trillion yuan, of which equity funds accounted for 9 trillion yuan, accounting for 35.2%.
Jiang Xiangyang, chairman of Bosera Fund, said that the rapid development of institutional investors and long-term funds has strengthened the buyer power in the capital market, and has formed effective checks and balances on the financing and operation of listed companies through market-oriented methods, which is conducive to the capital market to play a pivotal role in resource allocation.
How to further play the role of professional investors in the future?
"We should vigorously develop institutional investors and introduce medium and long-term funds." In Li Zhan's view, it is necessary to further relax the proportion and scope of medium and long-term funds entering the market, and accelerate the introduction of relevant policies to guide long-term investment of funds.
Wang Yifeng, chief analyst of the financial industry of Everbright Securities, said that for insurance funds, insurance institutions can continue to be guided to allocate more funds to equity assets, moderately increase the allocation ratio of equity assets, and support insurance companies through direct investment, entrusted investment, etc. channel and increase capital market investment; for bank wealth management funds, bank wealth management business needs to further strengthen investment capacity building, and steadily involve and expand equity asset investment.
Zhou Lei