In recent years, the home appliance industry has witnessed a surge in popularity for products like the new wind system, dishwashers, and washing machines—often referred to as the "new opportunities" in the market. For example, according to Zhongyikang data, the dishwasher market saw retail sales of 1.98 billion yuan in 2016, marking a 104.8% year-on-year increase. By January to November 2017, the market had already reached 3.95 billion yuan, reflecting an impressive 119.5% growth. Nail Technology suggests that there are two key factors behind this rapid rise.
First, the shift in consumer behavior driven by lifestyle upgrades and the growing "lazy economy." As China's economy continues to develop, people have become more affluent and are now more focused on convenience and quality of life. The younger generations, particularly those born in the 80s and 90s, are driving demand for high-quality, innovative products. This has led to the introduction of differentiated appliances such as smart ventilation systems, which cater to modern living needs. Additionally, the rise of the "lazy economy" reflects a trend where busy individuals prefer to spend their free time on leisure rather than household chores. This is why appliances like dishwashers and dryers are gaining traction—not just for their efficiency, but also for the lifestyle they represent.
For instance, dishwashers not only save time but also offer a more hygienic and convenient way to clean dishes. Dryers provide the flexibility to wash and dry clothes anytime, regardless of weather conditions. They also ensure that clothes remain soft, flat, and free from bacteria or dust. Similarly, fresh air systems have become a top choice for many due to their ability to purify and circulate air throughout a home.
Second, the high profit margins and the current popularity phase are fueling the growth of these emerging appliances. According to Zhongyikang, in the first 11 months of 2017, the dishwasher market sold 902,000 units, generating 3.95 billion yuan in revenue—an increase of 131.3% and 119.5%, respectively. The dryer market was also booming, with expected sales reaching 192,000 units and 680 million yuan in 2017, up 42% and 81.2% year-on-year. Fresh air systems also saw strong growth, with annual sales projected to hit 9 billion yuan—a nearly 50% increase.
Moreover, during this popular phase, three main factors are accelerating the adoption of these products. First, increased consumer awareness: for example, 85.3% of respondents have heard of fresh air systems, and 54% plan to purchase one within the next 1–2 years. Second, a wide range of price options allows consumers to choose based on their budget and needs. Dryers, for instance, can cost anywhere from 1,000 to tens of thousands of yuan. Finally, the rising middle class is demanding higher-end products, pushing up average prices and creating a more mature market.
In conclusion, the combination of consumption upgrades, the "lazy economy," high profit margins, and a growing middle class has created a favorable environment for emerging home appliances. Companies should continue to innovate, educate the market, and accelerate product adoption to fully benefit from this wave of growth.
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