In the first three quarters of 2021, the refrigerator market in China is affected by the low base of last year, showing a situation of rising volume. According to the total data pushed by AVC, the retail volume of the refrigerator market from January to September 2021 was 6.767 million units, a year-on-year increase of 11.9%, and the retail sales were 9.08 billion yuan, a year-on-year increase of 16.2%. On a monthly basis, starting from April, the overall market growth rate has been under pressure, demand has narrowed, and offline performance has been particularly pronounced, with the year-on-year growth rate turning from positive to negative. With the accelerating shift of purchase channels to online, the proportion of the online market continues to expand. As of September this year, the proportion of online retail sales has exceeded 50%, becoming an important channel to stimulate market development.
In terms of prices, in the context of rising prices of raw materials, pressure from upstream industries is reflected in the retail market, leading to continued increases in product prices.
In terms of scale, AVC’s monitoring data shows that from January to September 2021, online retail volume and retail sales volume increased by 21% et 27.4% year-on-year, respectively, and offline increased by 8.9% et 12.4%, respectively.
Looking forward to the fourth quarter, under the background that the overall consumer demand in the market is slightly weak and online traffic is becoming expensive, it is predicted that the retail volume of the omni-channel market in the fourth quarter of refrigerators will be 2.02 million units, a year-on-year decrease of 18.8%, and the retail sales will be 2.71 billion yuan. A year-on-year decrease of 15.7%.
The LED lightings for refrigerator or freezer are one kind of our main products, so the refrigerator market is important for us. We will continue to pay attention to it.
