bingopromotions| The best solution for the stock era! Xiaoxiong Electric: Putting products first to support high-quality development

Throughout the competition in the small home appliance market in recent years, the competition is extremely fierce. In the crazy first half, every family went to great lengths to win the carnival of data. After that, problems such as changes in the concept of consumption, declining demand, lack of stamina and so on emerged one after another, the incremental era of small household appliances braked sharply, and the era of stock opened in an all-round way. Turning to the front, all the families are thinking carefully, how to play in the second half?

Xiao Bear Electric Appliance (002959), which has just passed the 18-year-old "bar mitzvah", has clearly defined the development path of "product first" and laid the tone for the high-quality development road in the future. What is the product first? On the one hand, we should continue to create good products that meet the needs of users.BingopromotionsOn the other hand, we should have the strength of "doing well every product", and be able to create "flagship products", break through the limit of team innovation ability, and sample for the industry. In Xiao Xiong's view, no matter how the market changes, users' pursuit of good products and good experience will not change. So, where is the chance to win in the stock era? For Xiao Bear Electric Appliances, product power is the last word.

Going back to basics, good products are more persuasive.

Judging from the overall performance of the small household appliance market in 2023, there is a phenomenon that can not be ignored. Individual care small household appliances have emerged as a new force, and the retail sales of hair dryers alone have reached 90%.Bingopromotions60 million yuan, an increase of 29.9 percent over the same period last year. Compared with the out-of-favor air fryers and multi-function breakfast machines, the situation of "ice and fire" in the small home appliance market proves that the stock era still has new increments to be excavated.

So where is the new increment? The user has the final say. Why can health care products such as hair dryers and electric razors grow against the trend? The reason is actually very natural: under the penetration of appearance economy, single economy and self-pleasing economy, users need new personal care products that are more beautiful, easy to use, convenient and intelligent. Therefore, as long as we can find out where the users' new needs are in time, and meet or even exceed the expectations of users with a better product experience, then the brand will have a steady stream of vitality.

Going back to Xiao Bear, from its 2023 annual report data, it can be seen that not only revenue and profit have increased, but also electric and pot kitchen appliances have increased by 18.24% and 19.84% respectively compared with the same period last year, while other small household appliances, including foot tubs and high-speed hairdryers, have seen a 67.54% year-on-year increase in revenue. The data is the most convincing. In the relatively tight market of small household appliances, Little Bear Appliances has achieved steady growth. Not only the rigid demand category is outstanding, but also the emerging category has won more and more users' attention and recognition.

So, how does Little Bear do it? This is inseparable from its two key routes of strengthening rigid demand and expanding emerging, upgrading the use experience of traditional rigid demand products through technological innovation and functional iteration, while continuously expanding new categories to give users fresh and pleasant surprises. Take the rice cooker for example, Xiao Xiong Electric Appliance innovates a number of technologies to achieve a healthy Q-bullet miscellaneous grain rice without having to soak rice in advance, which can further meet the healthy eating needs of users. In the field of emerging categories, Little Bear Electric Appliances continues to launch all kinds of "artifacts" in response to the specific and micro needs of users for high-quality life. For example, for daily washing underwear, underwear, socks and other small clothes, mixed washing is unhealthy, separate washing and troublesome problems, Little Bear Electric launched the double-cabin washing machine, to achieve thorough washing at the same time can also achieve effective sterilization, anti-mites, do not take up space but can upgrade the happiness of life in a straight line.

Up to now, Xiao Bear has created 80 categories and more than 900 models of products, no matter it is a category or a single product, there is no lack of popular styles. The reason why it can constantly push through the old and bring forth the new, the R & D support behind it is the key. Xiao Xiong Electric Appliance has built a three-tier R & D system, creating nearly 2000.