The Peak Season Is Approaching, And The Washing And Care Home Appliance Market Is Expected To Perform Well in The Fourth Quarter

This year, the washing and care home appliance market in China has shown a steady development trend. At the 2024 China Household Laundry and Drying Industry Summit Forum, many industry experts were full of expectations for the fourth quarter market of the washing and cleaning industry, believing that with the release of the dividends of the trade in policy, it is possible to achieve excess growth.
From January to August this year, the retail sales of washing machines (including sets) reached 53.8 billion yuan, a year-on-year increase of 0.2%, with a retail volume of 24.37 million units, a year-on-year increase of 4.3%; The retail sales of dryers (including sets) reached 8 billion yuan, a year-on-year increase of 14.1%, with a retail volume of 1.41 million units, a year-on-year increase of 22.8%. According to He Jinming, Vice President of Aowei Cloud Network, autumn and winter are the peak sales seasons for the hair care market, and the hair care industry is expected to see outstanding performance.
In China's home appliance market, washing machines have completed product popularization earlier. According to China Home Appliances Network, the current market for household washing machines in China is between 450 million and 490 million units. It is expected that the replacement volume will reach 28.88 million units by 2024 and 37.83 million units by 2029. Lv Shenghua, the editor in chief of China Home Appliance Network, believes that ice wash household appliances entered the stock market earlier and have relatively stable updates. Compared with other household appliance categories, the washing machine market has less fluctuation, rapid technological progress, and significant improvement in product structure. Various types of products such as washing and drying sets and MINI products meet the needs of different scenarios.
Since the beginning of this year, the policy of exchanging old for new has been continuously strengthened, and washing machines, as one of the eight major categories of household appliances exchanging old for new, have become a key focus area for the industry and enterprises. Xu Dongsheng, Vice Chairman of the China Household Appliances Association, called on washing machine companies to make every effort in the fourth quarter of this year to implement the national trade in policy. According to data from OvCloud, the omnichannel retail sales of the home appliance market (excluding 3C) declined by 3.4% year-on-year from January to August. However, after August, with the implementation of the trade in policy, the home appliance market grew by 3.6% that month.
Wan Gaoxiang, Market Director of Rongshida Smart Home Appliances, believes that product replacement can be grasped from three dimensions: first, product replacement, based on product safety and user health needs, new products are of higher quality, which is the replacement of basic functions; The second is to classify new products, such as mother and baby washing, pet washing products, and a family may need multiple washing machines; The third is deep replacement, with rich functions such as drying and care after washing clothes in the washing machine, which better meets the market's demand for new products and reflects users' pursuit of higher quality clothing care.
Currently, consumers' pursuit of home quality of life is focused on dimensions such as intelligence, energy efficiency, and health, and they have put forward higher requirements for washing and drying products. Weng Zongyuan, the Planning Director of Haier Washing Machine, stated that the demand for washing and maintenance has shifted from clean washing to healthy washing and efficient drying. Issues such as residual odors in the washing machine drum and long drying time of the washing and drying integrated machine urgently need to be addressed. The X11 washing machine launched by Haier meets the first level health and cleanliness standards, and is equipped with wind cruise control technology to solve problems such as dehumidification and odor prevention; PTC washing and drying all-in-one machine improves drying efficiency with clean filter intelligent drying technology.
For some time now, the market for clothes dryers and integrated washing and drying machines has shown outstanding performance, but it also faces the problem of insufficient user awareness. Zhao Fu, Deputy Secretary of the Party Committee and General Manager of Shandong Xiaoya Holdings Group, pointed out that some consumers have insufficient understanding of the functions, effects, and usage methods of dryers, which affects their purchasing decisions.
At the forum, the "2024 China Household Laundry and Drying Products Revitalization Consumer Guide", guided by the China Household Electrical Appliances Association and compiled by China Home Appliance Network, was officially released. It covers the key points, characteristics, and precautions for buying and selling laundry and drying products, helping consumers choose suitable laundry and drying products and smoothly complete the replacement or purchase process.
Overall, the washing and care home appliance market is experiencing a peak sales season in the fourth quarter, facing challenges but numerous opportunities. Enterprises need to seize the opportunity of the trade in policy, innovate products and improve services around consumer demand, in order to achieve excess market growth and sustainable development. At the same time, strengthen consumer education, enhance users' awareness of emerging products such as dryers, and further expand market space.