Chinese TCG market closed 2019 with a negative trend

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In the fourth quarter of 2019, the total value of Chinese technology consumer electronics market increased 0.7% year-on-year. In this period, Information Technology, Office Equipment and Small Domestic Appliances markets achieved positive growth respectively by 6%, 2% and 1%, while Consumer Electronics, Photography, Major Domestic Appliances and Telcom products showed decreasing trend by 6%, 5%, 5%,1%.
Air conditioning market sales unit increase 1% in the full year of 2019, the driving roll of low-ended products to market is remarkable.
Drum product showed outstanding performance, entry-level drum products were favoured by consumers most for its “cost-effective” attribute, leading to a rapid growth of market sales volume by 111.2% and sales value by 110.7% year on year. Local washing machine manufacturers followed this trend to make price of the large-capacity drum further lower. Not only that, they also equipped these entry-level drum products with multiple-functions such as “sterilization”, “mite removal” and “WiFi connection” as selling points. Drum product showed outstanding performance
Regarding Small Domestic Appliances, according to GfK Temax, Air humidifier market showed an overall growth trend in 2019 Q4. E-commerce is still the main market for this segment, which accounted for over 90%.
In the last part of last year, VAC unit also increased by +21% year on year, value increased by +8% year on year.
Finally, under the macro background of the global economic slowdown, the sluggish performance of domestic real estate and manufacturing industries, plus the consumption policy stimulus effect yet to appear, the household appliance industry was under pressure in Q4 2019.

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