Source: China Appliance Magazine
Amid the overall lackluster performance of Chinese home appliance industry from January to July 2019, dishwasher sector stands out with strong growth, posting combined sales value of 3.46 billion Yuan, a year-on-year growth of 24.9%, and sales volume of 725,000 units, a year-on-year growth of 24.9%, according to All View Cloud.
Online market accounts for 40% of the total market size by retail sales value and 50% by retail sales volume, which points to the conclusion that online market has become the main battle ground of dishwasher enterprises. New brands emerging from January to July at online market numbered 48 and new models 223, while the number for offline market was 15 and 124 respectively. Price wise, the average online price slid by 2.8%, with that of in-sink models and countertop models down by 16% and 16.6% respectively and drawer dishwashers, out of the pack, up by 18.9%.
Though the average price falls under the pressure of intensified online competition, we learn from our interviewees that, the potential of the sector is still huge. Li Liuwei, Director of Sales of Built-in Product Division of Vatti, points out that, the rising sector has maintained a compound growth rate of more than 30% for the past few years, which shows the industry’s potential and users’ high expectation for it. Shi Yingqing, Chief Engineer of built-in products of Macro, believes that, dishwashers could be a must-have of Chinese kitchens considering the large market space to be unleashed. Currently, the penetration rate of dishwashers in China posted 1.3% yet the number for developed countries is 60%-70%.