In the future, the competition in the kitchenware market will become even fiercer, and the entire industry will be reshuffled.
Kitchenware, as a household essential daily necessities, with the improvement of people’s living standards, the demand for kitchen utensils is also increasing. China has about 1.3 billion people, and the market space is extremely large. In recent years, China’s kitchenware hardware market sales volume is 35%. The speed is rising. From the 20th century, 80 years, a short period of 20 years of development, kitchenware industry has become a sunrise industry, entering a qualitative period from rapid growth to maturity.
In recent years, there have been some new development trends in the Chinese kitchenware industry:
The development of information technology has brought opportunities and challenges to enterprises. In terms of opportunities, information technology can help optimize business processes, reduce management costs, and gain advantages in competition. Companies that cannot use information technology to improve their processes are clearly at a disadvantage.
Product structure evolves in the direction of beauty, fashion, environmental protection, and low energy consumption. Low value-added products must continue to withstand the impact of the domestic industry and deeper competition.
Distribution channels brewing change. With the rise of the home appliance chain industry in recent years, it has become an important channel for the current home appliance industry sales, but due to the higher entry costs and operating costs of home appliance chain stores, existing manufacturers are looking for other ways, such as access to building materials and kitchens. Exhibition hall and so on.
The competition in the future kitchenware market will become more intense, and the entire industry will be reshuffled. However, most businesses are small and in a difficult situation. The lucrative profits have led some large home appliance companies to start rushing out of the kitchen and bathing market so that the competition can quickly be upgraded nationwide. In particular, many multinational corporations have brought back the advantages of technology, branding, and marketing to make the competition of domestic kitchenware more intense.
At the same time, the vast rural market remains to be developed. Coupled with the demand for upgrading of urban residents, the demand for kitchenware will continue to grow steadily. In this rapid development, I believe the prospects of kitchenware hardware industry are very substantial.