Air fryer surge: the new wind of the home economy? Impulsive consumption pseudo-demand?

Usually do not cook much, is generally the company downstairs or the community door of the catering shop to deal with, occasionally with friends, colleagues about dinner, or simply go home to order takeaway, with the rented roommatetogether, can not only chase the play while eating, but also put on a very comfortable posture. On the one hand, because of the busy work, really do not have time in the kitchen, on the other hand, less than the self-proclaimed no interest in cooking, there is no cooking skills.

This may represent some of the daily diet of young white-collar workers in Shanghai.

But recently things have changed, and restrictions on home office and takeaways have led to frequent visits to and from the kitchen. Cool skins, steamed fish, sandwiches, these are the dishes that were first tried in The Course. At the moment of steaming fish out of the oven, she also took a photo to share in her own honey group, "Look at me, learn to steam fish, haha." Yu Cheng said.

The sandwiches made by Yu Cheng sell well, and the edges of the sandwiches are sealed and the ingredients inside are completely wrapped. Yu Cheng told reporters that this is with her recently just bought from the Internet breakfast machine made. The size of the breakfast machine is exactly the size of a piece of toast, "in fact, it is a small electric cake."

This may also represent the daily cooking of home isolation during an outbreak for some people.

Behind the surge

With the friend's circle of cooking competition, kitchen appliances also ushered in a wave of surge.

Tmall's latest figures show that the first hour sales of sandwich machines this year were up 1500 per cent year-on-year, with 38 minutes of chef's sales surpassing that of the same period last year.

Suning recently released the February small appliances new data show that the kitchen small appliances, electric ovens increased by 280% yoY, air frying pans increased by 659% YoY;

With the "Internet small appliances first stock" known as the Small Bear Electric (SZ:002959), after it was reported that its electric rice lunch box in February 1 - February 25 sales of more than 280,000 units, a sharp increase of 300 percent year-on-year, 150 percent month-on-month growth. Bear electric son said that after the outbreak, electric rice boxes have become just needed products, the recent resumption of work after the birth, market demand is a surge.

However, the reporter noted that on the interactive platform, there are investors asked: This is the new trend of the housing economy, or impulse consumption of pseudo-demand?

The story that began with Cheng later also reversed, she told reporters that the first few days of cooking is still more fulfilling, but then online work, work even more complicated, takeaway also can not point, cooking has become a forced move. With the recent return to normal commute strain, back to the company's working meal days, her sandwich machine, yogurt machine also idle there.

In this regard, Pacific Securities home appliance sourcing analyst Xiao Wei in an interview with the Economic Observer, said that the wind is the wind, demand is also demand. For now, the market response is real demand. Compared with the growth in yogurt machine sales caused by the melamine incident in 2008, the growth of yogurt machines did not peak until 2016, so in the long run, such demand is not pseudo-demand, will increase.

Out of the need for diversification and consistency

At present, market analysis has begun to divide small household appliances into two categories, one is the United States, Supor, Jiuyang as the representative of the sale pot, magnetic, pressure, beans, materials, squeeze and other traditional categories of small household appliances giant, one is the bear electrical appliances as the representative, avoid the leading category, to small, innovative, sub-subdivision of small appliances as the main research object of the emerging brand.

Tianfeng Securities Research Institute home appliances team in the research report gave the small home appliance market segment generated behind the logic: with purchasing power allows, people's consumer demand will increase from basic consumption to other levels of consumption. Whether it is "consumption upgrade" or "consumer degradation", the core logic is in the consumer pursuit of more cost-effective products, demand from the "product force to add" and "price to subtract" two dimensions of dispersal, more and more market segment demand to gradually form.

In Xiao Wei's view, the traditional small home appliance solder was born in a good era, like rice cooker belongs to the just need type of products, the market space is larger, accompanied by a growing variety, can support a longer time. Now the emerging small appliances, belong to the optional consumption, for the long tail market, the market size is relatively small. So his idea of expanding with new products would be more direct and faster.

In several Cubs electronics brokerage research reports, all mentioned its ability to expand new products and product segmentation of the advantages.

Huatron Securities analyst Yan Yuan month in the research report analysis pointed out that the company focused on innovative emerging small appliances, covering a wide range of products, including ice cream machines, Japanese omelettes, barbecue machines and many other traditional taps ignored long tail categories, to meet the needs of consumers of various types of segmentation.

In 2017 and 2018, The total number of new products launched by The Cubs reached 58, 89, the research and development cost rate showed an increasing trend year by year, the first three quarters of 2019 the company's research and development cost rate increased by 0.55% to 3.1%, research and development investment accounted for the same level of revenue in the industry.

In Xiao's view, innovation ability is the core element of both traditional and emerging home appliance brands.

"In the diverse demand, the enterprise must do one thing is constantly inward, do research and development, expand the category, and then let the market to choose. "That's what Xiao said: to move out of a coherent need for a variety of needs.

After the end of the home cooking craze

Love of cooking after 90 Han Qing did not know what air frying pan is, once on Taobao platform to watch their favorite live stream, see the net red recommended this product, the same day also sold semi-finished fried chicken package. Net red introduction air fryer without additional oil, is the use of the machine's baking device to quickly heat the air, so that the food becomes cooked, but also can force out the meat itself grease. Under the heart, along with the fried chicken package, Han Qing bought one. "My mom knows the air fryer, and she says it's popular now. Han Qing told reporters.

According to Taobao live data analysis platform live eye 3.8 section data, the whole network hot product TOP20, home appliances category emerging as a list of new talent, accounting for 30% of the list.

Some industry views point out that from the 2019 development of home appliance brands, some emerging brands are indeed from the live platform, social e-commerce began to exert power, emerging home appliance categories are generally not just needed, curiosity, impulse shopping in line with the live broadcast and social e-commerce shopping properties.

Xiao believes that, on the whole, live broadcasting will empower the industry, and empowerment is more in the direction of optional consumption. The strength of live power mainly depends on whether there is just need and the difference in consumption frequency and cycle. But whether from the perspective of live delivery or from the point of view of small home appliance companies, both have the centripetal force to promote cooperation, both need to develop, both need to find incremental.

From the perspective of many industries, next, to the United States, Supor, Jiuyang as the giant of the traditional small household appliances category competition pattern is relatively stable, on the one hand, because of the traditional category of brand association is high, on the other hand, because of the high penetration of offline channels. As a result, the competition opportunities of emerging brands will be more invested in emerging channels and innovative categories.

According to the relevant data cited by Huatron Securities, compared with developed countries such as Europe and the United States, China's small home appliance market, whether from the choice of product types and the actual number of existing there is a large room for improvement. According to CBNDATA, there are about 200 small household appliances in developed markets in Europe and the United States, while there are fewer than 100 kinds in China. Euromonitor international data show that China's household small household appliances hold less than 10 kinds / households, compared to Europe and the United States and other developed countries (30 kinds / households) still have a large room for improvement.

"Inward" is the "product force to do addition" pointed out by Tianfeng Securities, and outward is shown as "price subtraction".

Some point out that from the stage of small home appliance development, most categories have entered the mature period, the market has begun to weaken, the average price of small appliances is expected to continue to explore in 2020.

In this regard, Xiao Wei believes that indeed most of the small household appliances category has entered the mature period, such as the traditional six categories (pot, magnetic, pressure, beans, materials, press) growth rate has been single-digit or even negative growth. Because the threshold of small appliances is relatively low, so enterprises in the layout of the time, basically compared to who is running faster. "He's not fighting in positions, he's less big-scale than big appliances. Therefore, Xiao Wei believes that later competitors will inevitably affect the average price trend of small appliances, the decline in the average price is a normal in the short term. In the medium to long term, the growth point still depends on constantly looking for new categories and product upgrades.

From China's household appliancecategory, in 2019 the domestic household appliances major categories of domestic retail sales generally showed a downward trend, including white electric air conditioners, refrigerators and washing machines fell 3.4%, 1.2% and 1.2% YoY, kitchen electricity fell 0.6% YoY, the performance of small household appliances products outperformed each sub-category, achieving 3.6% YoY growth.

Xiao said that the current small small appliances represented by the bear are still in the relatively small stage, so its growth rate is naturally faster than the traditional small appliances. The way the company grew up is more clear, relying on the expansion of categories to create demand.

Tianfeng Securities' research report gave the next step of the consumer trend prediction is: further evolution into the recent increasingly increasing consumer rationalization. When the growth rate of purchasing power can not meet the rate of expansion of demand category brought about by the upward shift in demand level, the rationalization of consumption demand will occur.