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Research Report on China’s high end home appliance market in 2020 From GFK

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The following is the Research Report on China’s high end home appliance market in 2020 From GFK recommended by recordtrend.com. And this article belongs to the classification: GfK Group, Home appliance industry, research report.

Since April this year, China’s epidemic situation has been well controlled, and the overall consumer confidence has been significantly enhanced. In particular, more than 80% of consumers in first tier and new tier cities and high-income population have expressed obvious confidence.

With the improvement of economic growth, the expected income of high-income groups has increased significantly, the expected increase proportion of consumers’ expenditure on home appliances, home furnishings and decoration has led by a large margin, and the high-end consumption has been further driven. From the perspective of high-end people’s consumption values, the attitude of quality and timely enjoyment is very common; from the perspective of categories, the high-end trend of white power, kitchen power, health and cleaning small power is obvious.

GfK proposed that artistic appearance design, breakthrough and innovation of functions, progress of core technology, and satisfaction of intelligent interaction demand are the core factors driving the iteration of China’s high-end household appliances. According to the results of GfK consumer survey, 88% of high-end users show that they attach great importance to the appearance and design of home appliances; 89% of high-end users say that they are willing to pay higher prices for home appliances containing new technologies or advanced functions.

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