走向全球中国品牌的战略意义-2024中国消费电子和家电行业趋势报告中英双语版

Goingglobal:strategicimplicationsforChinesebrands AmarkettrendsreportonChinaconsumerelectronicsandappliancesindustry Trendsreportfor2024 Tableofcontents 1Executivesummary04 2Chinaconsumerelectronicsandhomeappliances06 (CEH)marketoverview 3GlobalCEHmarketopportunity17 4CEHmarketsegmentations19 5Industrybestpractices31 6EYsolutionsandcasestudies40 7References46 Executivesummary Chinaisaglobalpowerhouseforconsumerelectronicsandhomeappliances,dominatingthemarketwithover22%ofglobalsales.ItalsoholdsasignificantpositionintheAsia-Pacific(APAC)marketintermsofsalesvolume.Asthe‘world’sfactory’,Chinahasmassiveelectronicmanufacturingandexportingcapabilityacrossawiderangeofelectronicproductsincludingsmartphones,computers,televisions,consumerappliancesandelectroniccomponents.Thecountryhasbeenhometomostpopulardomesticandmultinationalconsumerelectronicsbrandsforovertwodecadesduetotheeaseofsourcingelectroniccomponentsforproducts,savingsignificantlogisticscosts.MajorcitiessuchasShenzhen,hasestablishedasahubfortheelectronicsindustrywithend-to-endvaluechaincapabilitiesincludingpresenceofcomponentmanufacturers,low-costworkers,andproductassemblysuppliers.Strongsupplychainnetworkwithsomeofthelargestcontainerportsglobally,suchasShanghai,Shenzhen,andNingbo-Zhoushanwhichfacilitateseasymovementofproductsinternationally,alsoenablesthemarketgrowth. Theconsumerelectronicsmarketattainedsignificantgrowthoverthepastdecade,drivenbymultiplefactorsonbothsupplyanddemandsides.Rapidurbanization,adoublingofdisposableincome,arisingmiddleclasspopulationandincreaseinloweragegrouppopulationhavesignificantlybolsteredthedemandforhightechconsumerproductsforpersonalandprofessionalusage.Ontheotherhand,low-wageworkers,easyaccesstorawmarketsandcomponents,governmentpoliciesthatsupportinnovationandhighskilledworkforcecontributetotheupliftmentoftheregion. Themarketwitnessedadisruptionindemandsincethepandemicwithunevensales.Therewasaremarkablerecoveryin2021,attributedtoasignificantriseinremotework,demandforhouseholdconvenienceproductsandconsumersreinstatingtheirelectronicspurchasingdecisionsthatwasputonhold.However,themarkethasexperiencedagradualdownturnagainin2022,anditisfurtherexpected tolargelyremainsluggishin2023duetomixedconsumersentimenttowardsinvestmentsinnewproducts. Inrecentyears,themarketgrowthisprimarilydrivenbytheconvenienceofonlinechannels,productadvancementsforsustainability,durabilityandconvenience,availabilityofeasycredittoenablepurchases,andgovernmentincentiveprogramstoboostconsumption.Themarketisalsoexhibitingsignificanttransformationmarkedbyincreasingpopularityofsmarthomedevicesforpersonalizedconsumerexperiences,demandfor5Genableddevicesforbetterproductsresponsivenessandreliabilityandriseinattractiontowardspremiumandhigh-performanceconsumerelectronicsproducts. Asinnovationalwaysremainedakeydifferentiator,Chinesemanufacturerscontinuetoimproviseproductattributesbyintegratingartificialintelligence(AI)and5Gintotheirdevices,revampingphoneswithfoldablefunctionalityandadvancedcamerasystems,adding3Dtechnologyindisplays,launching5GenabledPCs,developinglocaloperatingsystemsforbothsmartphonesandPCs,andmanymore,toprovideaconnectedandpersonalizedexperiencetocustomersaswellasforreducingthedependencyonforeignbrandedproducts.Thereisalsoanincreasealignmenttowardsdevelopingsustainableproductsusingrecycledplastics. 4Goingglobal:strategicimplicationsforChinesebrands However,Chineseconsumerelectronicsandhomeappliancescompaniescontinuetofaceroadblockssuchasintensecompetitionandmarketsaturation,pressurizingthemtocontinuouslyinnovateandevolveproductssuitableasperchangingconsumerpreferencesandadoptfastergotomarketstrategies.Toovercomesuchchallenges,Chinesebrandscanleveragetheircapabilitiestofurtherdeveloptheirbusinessesglobally. China'sdominanceinconsumerelectronicsexportsisundeniable,withitsglobalsharereachingastaggering42%8in2022.Thoughtheriseinexportsofhomeappliancesandcommunicationequipmentisinsingledigit,demandforcost-effectiveproductswithinnovativefeaturesisdrivingthesalesvolumeglobally.ThepopularityofChineseproductshasspreadtoregionssuchasSoutheastAsia,Africa,LatinAmerica,andevenEurope.ThisprovidesafavorableenvironmentandsignificantopportunityforChina’sconsumerelectronicscompaniestoexpandtheirpresenceandcapturealargermarketshare.However,thiswillrequirestrategicvisionwithamultifacetedapproachtoestablishastrongbrandperceptionandreputationinforeignmarketswithreadinesstoaddressanychallenges. CertainChineseleadingbrandsintheconsumerelectronicssegmenthavesetanexamplebyflourishingthemselvesasagloballyrecognizablecompanybyexploringtheirpotential.Thecompaniesinitiallygaineddominantpositioninlocalmarketsbyproductdifferentiation,prospectingemergingareasthroughtheirstrongdistributionnetworkandharnessingcostinnovationacrossthemanufacturingoperationstomaintaintheircompetitivepricing.Thislocallygainedreputationenabledthemtoincreasetheirproductexportsinitiallyandthenstepuptheirfootholdsoperationallyincountriesinwhichtheirproductsholdhigherdemand. Intheinitialstagesofgloba