Text | Praying Mantis Observation
Author | Yu Yi
The 2022 annual reports of listed companies have gradually entered a period of intensive disclosure. In the current annual report season window, the performance of each company is highly concerned.
On the evening of March 30, Haier Zhijia released its 2022 financial report. The financial report shows that in 2022, Haier Smart Home will achieve revenue of 243.514 billion yuan, a year-on-year increase of 7.2%, and its revenue growth outperforms the industry against the trend; the net profit attributable to the parent is 14.711 billion yuan, a year-on-year increase of 12.5%, and the net profit not attributable to the parent is 13.963 billion yuan , an increase of 18% year-on-year, and the profit growth rate continued to exceed the revenue growth rate.
In the past 2022, under the influence of many uncertain factors, it is not easy for Haier Smart Home to achieve such a result, and it has become a unique bright spot in the home appliance industry. Then the core elements that support Haier Smart Home to outperform the industry against the trend what is it
Haier Zhijia responded to the uncertainty of the global market by growing against the trend
Last year, the drama of "inflation and interest rate hikes" continued to be staged around the world, adding various other challenges, making many industries that were already difficult, such as the home appliance industry, even worse.
Not long ago, Aoweiyun.com released data showing that the omni-channel retail sales of China's home appliance market (excluding 3C) in 2022 will be 764.9 billion yuan, a year-on-year decrease of 5.3%.
In terms of going overseas, the export pressure of China's home appliance industry will increase in 2022: According to the data of the China Household Electrical Appliances Association, the industry's export value for the whole year of 2022 will be 97.25 billion US dollars, a decrease of 6.9%.
The situation in various countries and regions is also not optimistic. For example, in the US home appliance market, core home appliance shipments fell by 6.4%; in Europe, industry sales fell by nearly 8.9%; In Japan, the total sales volume of the ice and cold washing industry for the whole year decreased by 1.5% year-on-year.
Facing such a harsh environment, it is not easy for Haier Zhijia to achieve such results. In addition to the overall revenue growth against the trend, it also performed well in market segments.
The financial report shows that in 2022, China's smart home business will achieve revenue of 126.379 billion yuan, an increase of 4.6% over 2021. According to data from GfK, Haier refrigerators, washing machines, and water heaters achieved continuous growth on the basis of the first share in the market. Among them, the share of refrigerators continued to increase to 43.9%, the share of washing machines continued to increase to 46%, and the share of water heaters continued to increase to 29.8%. At the same time, the share of household air conditioners has increased for 6 consecutive years, and has continued to increase to 19.5%, achieving growth against the trend; the share of kitchen wires has continued to increase, entering the industry TOP3.
Through the comparison of financial report data and industry data, it can be seen that in the face of such an uncertain market environment, Haier Zhijia can hand over such a definite answer, which fully reflects the strength of Haier Zhijia as an industry leader , It also shows that Haier Smart Home is deeply recognized by the consumer market.
In addition, what else supports the certainty of Haier Zhijia?
Behind the counter-growth, the three-level brand strategy of Haier Zhijia continues to ferment
If you pay attention to the current industry, you can find that the consumer demand in the current market is undergoing multi-dimensional changes.
First of all, with the changes in the main body of the consumer market, their requirements for products are no longer just "durable", "pleasant", "appearance" and other elements, and gradually surpass the old elements such as "cost-effectiveness". This is a change in the consumption structure. .
Secondly, the current industry has entered the era of stocks, and the essential competition in the market is no longer the competition of single products, but the ability to "build a home". To put it simply, the market is replacing the demand for renewal by the demand for improvement. Whoever can bring more comfortable home conditions to users can harvest the market.
Finally, there is a change in the purpose of consumption. The current consumption is willing to spend money, but the prerequisite is that it can meet the needs of life and bring convenience to oneself, and the consumption logic of spending money and saving trouble is born.
After understanding the changes in the consumer market, let’s take a look at the actions of Haier Zhijia.
Many years ago, Haier Zhijia started targeted layout and proposed a three-level brand strategy, that is, to build a brand matrix composed of "high-end brands, scene brands, and ecological brands" to meet the needs of consumers in an all-round way. Today's achievements can be understood as the result of three-level brand strategy fermentation.
For example, in the face of changes in consumer consumption factors, Haier Smart Home has created a high-end brand represented by Casarte to meet the needs of the consumer market for appearance and style. And Casarte did not disappoint Haier Zhijia. In recent years, it can be said that it has absolutely led the high-end market. In 2022, it will also rank first in the retail sales of refrigerators, washing machines, air conditioners and other categories in the high-end market.
Haier Triwing Bird, on the other hand, has hit another pain point of users by transforming fragmented items into packaged and scene-based services. Haier Triwing is not limited to home appliances, but also goes deep into intelligent, home and even decoration links. This one-stop model is very popular among young users.
In addition, the establishment of an ecological model is also the first of its kind in the industry. The service circle composed of open ecologies such as the Internet of Food, Internet of Clothing, and Internet of Water continues to meet users' full-cycle life needs such as food, clothing, housing and entertainment, daily necessities, rice, oil and salt. This is also the ultimate embodiment of the industry's ability to compete for "homemaking".
In short, through the latest financial report figures, we have once again recognized the strength of Haier Smart Home to catch up with the industry in all aspects, but behind this, there are by no means no hidden worries. The future Haier Smart Home still faces some challenges.
High growth also has small worries, Haier Zhijia still has challenges
Haier Zhijia can achieve such results, in addition to the three-level brand strategy mentioned above, it is also related to its huge investment.
For a long time, Haier Zhijia has been the one with the fastest revenue growth and the highest gross profit margin among the three major domestic white goods giants. However, the rapid market expansion of Haier Zhijia has led to higher sales costs, which has become a "double-edged sword". For example, the financial report shows that in 2022, there will be more than 900 new triwing stores nationwide, which is one of the sources of higher sales expenses; %.
It can be seen that Haier Zhijia has clearly realized the problems in this area, and has begun to reduce costs and increase efficiency through "digitalization". For example, in terms of management expenses, it has been optimized by 0.2 percentage points compared with 2021; 0.3 percentage points optimized in 2021. Of course, this will be a long-term and arduous task for Haier Zhijia.
In addition, another challenge for Haier Zhijia comes from the expansion of the global market. Judging from the situation last year, Haier Zhijia is stepping up its layout through the high-end brand Casarte and overseas supply chains.
On the one hand, Casarte has accelerated its overseas layout and continued to expand its territory in overseas markets. According to public reports, in Europe, Casarte made an appearance at Milan Design Week in Italy, and at IFA in Germany exhibited a complete set of smart scenes; in South Asia, Casarte held a brand launch conference in Pakistan; After opening a smart home experience center, it entered Singapore and continued to expand overseas market growth space.
On the other hand, Haier Zhijia is accelerating the improvement of overseas supply chains. Not long ago, the Haier Egypt Ecological Park officially held a foundation-laying ceremony, laying out a production capacity of over one million units, which became another milestone in the globalization of Haier's smart home ecological brand strategy.
In the uncertain global market, Haier Zhijia's long-term investment will release more market potential in the next few years.
The contrarian growth of Haier Zhijia's performance has demonstrated its strong business resilience, especially in the global uncertain environment, it is both unexpected and reasonable to hand over a certain answer sheet. Next, what Haier Zhijia has to do is to maintain this high-growth trend against the trend.
*The pictures in this article are all from the Internet