may be the most concerned issue for everyone, but this is powerless and no one can predict the stock price. Here we will sort out the recent trends of the industry price war for everyone.
2020-2021, the development direction of the sweeping robot industry is relatively clear: from stand-alone products, to self-dust collection/self-cleaning products, and then to all-around base station products, participants in the industry generally follow this path to develop, essentially It is a necessary function to "from nothing to something".
In 2022, the top players (except Yunjing) have launched all-round base station products. With the start of the price war in the second half of the year, we gradually observed that the strategic differentiation of participants has begun . This article will sort out this out and analyze the possible impact.
1, Ecovas
Currently Ecovas' strategy is to actively respond to the price war by reducing costs and price reduction and launching castrated products, and at the same time, strive to achieve the goal of allows competitive products to cover all price range . We have previously counted the price reduction of the T10 series, and will not go into details here. After the price reduction of , the sales of T10 OMNI have increased significantly.
In addition, we have observed a "one-point" change in Ecovacs' sub-brand: Ecovacs is trying to promote the functions of mid-to-high-end models to the low-price zone. The most obvious thing about is a stand-alone model below 1,000 yuan. Only products without navigation + mechanical obstacle avoidance can be purchased under 1,000 yuan in the middle of last year. Now the 799 yuan product has a basic wide-angle lens navigation, and you can choose Allocation of base station. Ecovacs' approach will undoubtedly have an impact on some mid- and low-end brands.
2, Stone Technology
In September, the main products of Stone Technology have experienced price reductions. 3. Based on the online market share data, the price reduction of Ecovax T10 has caused the impact of stone's competitors, and the stone technology strategy has also changed. Price war among peers.
Another change is that stone will transform to self-built production capacity. In fact, this behavior of is completely understandable. On the one hand, self-built production capacity is conducive to enterprises responding to market changes faster. Moreover, was actually dragged down by outsourced production capacity and outsourcing channels last year and this year. In fact, for , the main OEM of stone, , Xinwangda , the order of stone is only a very small part of , which will cause stone to not take the dominance in the order schedule and will easily drag down product iteration. The self-built production capacity of stone is located in Huizhou, Guangdong, which shows that there are also large-scale export considerations.
However, this also means two things: one is that Shitou may need to continue to invest in funds in the past two years, and the other is that its net profit margin will be relatively reduced in the future.
3. Zhuimi+ Xiaomi
As the initiator of the price war, Zhuimi+Xiaomi undoubtedly follows the cost-effective strategy of . Although Zhuimi S10 is different from other flagship phones, it cannot be ignored in its price range. However, recently launched the flagship all-round base station product X10, which seems to be moving towards a comprehensive brand. began to cover various price bands from bottom to top.
4, Yunjing
Finally, let’s talk about Yunjing. One of the advantages of this company is to build a high-quality service system on its own. , however, its product strategy is quite unique. The J3 just launched focuses on intelligent cleaning, which is essentially a software innovation based on user experience. However, its pre-sale price is 4,999 yuan, and it is not equipped with an all-round base station. The competition in this price band The force still needs to be observed .
We observe Yunjing's products, especially J2. Although can set a precedent in the industry to a certain extent, it will always be quickly caught up and improved . However, judging from the data, J2, whose product strength is obviously lagging behind, is still Having a very good sales volume only shows that Yunjing's "first" behavior can bring about a relatively strong brand effect .
However, the product strength of this J3 remains to be seen. Whether its large single product strategy can continue to be effective depends on market verification.
Summary: At present, the top players of sweeping robots have shown relatively obvious strategic differentiation. Zhengxing Research Institute believes that in the long run, there is still huge room for the sweeping robot industry. As long as participants do not fall behind, they can enjoy enough industry dividends and will benefit from the increase in industry concentration brought about by competition. However, in the short term, the fierce competition has also brought uncertainty, and investors should be mentally prepared for the performance of leading companies to fall short of expectations. However, today's research report of CICC also compares the sweeper industry with the air conditioner in 2015, and everyone knows it. However, we can see from the lines that researchers have experienced the pessimism of the short-term market. The important reason why
sweeping robots is that they are optimistic about the improvement of penetration rate . If readers who have retained this view or oppose the opposition, it is not recommended to pay attention to this industry.
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