Posted on December 4, 2018
China is facing a new consumption update
At present, China is ushering in a wave of consumption upgrading. Traditional survival and material consumption are beginning to give way to new consumption such as development and service consumption. Benefiting from this round of consumer upgrade, personal care small household appliances industry has been injected with fresh blood. China’s small household appliances market has achieved higher growth rate than that of small household appliances market, and its scale and volume are constantly rising. According to China’s State Grid forecast, the size of small household appliances market will increase to 32.6 billion yuan in 2020, and the compound annual growth rate will reach 17% in 2017-2020.
In addition to the continuous innovation of products and modes and the promotion of consumption driven by factories, the “oxygen supply” of the national policy has also promoted the development of small household appliances. For example, “Consumer Goods Standards and Quality Improvement Planning (2016-2020)” issued by the State Council in September 2016 clearly put forward the need to “optimize the appearance and function design of shaver and other personal care small household appliances products” to continue the development of “blood supply” small household appliances industry.
It is reported that the main household appliances are hair dryer, electric shaver, electric toothbrush, straight/curler, haircut, hair ball trimmer, pore cleaner, electronic beauty instrument, electronic massager and other products. As far as the current situation of the industry is concerned, although the small household appliances industry has a vigorous development momentum at this stage, there are still many problems in the industry. For example, consumer guidance needs to be strengthened; the types of small household appliances produced by various companies vary greatly; enterprises in the industry are reluctant to communicate.