The first quarter of 2024 came to an end. The small household appliance industry showed strong resilience in the “storm”. AVC’s omni-channel promotion data for the first quarter of 2024 showed that the overall retail sales of small kitchen appliances (including categories: coffee machines, rice cookers, induction cookers, electric pressure cookers, soy milk machines, wall breakers, blenders, juicers, electric kettles, grilling machines, electric steamers, health pots, grilling machines, desktop single-function small ovens, air fryers) was 14.4 billion yuan, a year-on-year decrease of 0.6%; the retail volume was 72.02 million units, a year-on-year increase of 6.1%; the average price was 200 yuan, a year-on-year decrease of 6.3%.

Affected by the environment in recent years, the progress of improving the gap between the rich and the poor in my country is relatively poor. The high-income group has too much money but nowhere to spend it, the middle- and high-income groups have money but are unwilling to spend it, and the middle- and low-income groups have little money but dare not spend it. Finally, the low-income groups have no money to spend. Therefore, in 2024, we will find that consumers’ extreme pursuit of cost-effectiveness is more vivid than in 2023. Therefore, from the perspective of the entire small household appliance industry, the average price will drop sharply.

Among the numerous small household appliances, the categories have shown diversified development, but the common point is that most categories have shown a decline in average prices. From the perspective of overall category performance, relatively small-scale categories have recovered this year after accelerating overdrafts in 2020, such as electric stew pots and health pots; traditional large single-product rice cookers still maintain a stable and small growth, but air fryers, ovens, wall breakers and other categories are still affected by the high base and perform poorly.

From the product side, multifunctional products such as multifunctional pots, foldable multifunctional pots, and meat grinders that can knead noodles are also popular with consumers. With the arrival of the hot summer, summer outdoor cool small appliances are believed to be popular again with the blessing of the tourism boom. It is recommended that brands prepare in advance.