Shulou(Shulou.com)11/24 Report--

From "the air fryers can no longer sell" to the "Internet celebrity small household appliances" on the Little Red Book, which has become the "idle king" of Xianyu, when the dividends of the home economy and the lazy economy have receded, the entire small home appliance industry is undergoing an inevitable baptism and change. Some people leave the stage, some people go back to the center of the stage.

On October 27, 2023, Little Bear Q3 Quarterly report was released. According to its financial report for the third quarter of 2023, the company's operating income in the first three quarters reached 3.318 billion yuan, an increase of 22.96% over the same period last year; the net profit belonging to shareholders of listed companies was 316 million yuan, an increase of 31.24% over the same period last year, and the overall growth performance was in line with expectations. The R & D expenditure in the first three quarters was 106 million yuan, an increase of 11.74 percent over the same period last year.

Under the pressure of the small household appliance industry as a whole, why can Xiao Xiong achieve steady growth?

Strengthen rigid demand, become bigger and emerging, Little Bear Electric Appliances continues to grow with its product strength and innovation.

According to AVC's omni-channel data from January to September 2023, the overall retail sales of small kitchen appliances fell 9.6% year-on-year, and retail volume dropped 0.5% year-on-year, including online retail sales down 9.9% and offline retail sales down 8.9%. Some professionals have pointed out that the overall pressure on the industry is closely related to the disappearance of the dividend of the residential economy and the rational purchase of consumers. But the slowdown in demand does not mean that there is no demand. The overall growth performance of Little Bear Appliances in the first three quarters is the best proof.

Xiao Xiong Electric Appliance has always been user-centered, insisting on practicing its internal skills and constantly improving its core competitiveness. This is specifically reflected in the fact that it continues to improve its own product strength and innovation, thus having the ability to continue to walk in the front end of the industry in product innovation and invigorate the product market, and to find new increments in the stock market on the one hand, on the other hand, it continues to open up more subdivided new tracks.

Throughout the various stages of development of Little Bear Electric Appliances, we have achieved accurate insight into the needs of current mainstream users, and created numerous popular styles. Whether it is to break the traditional cooking mode of yogurt machine, egg cooker, or popular style health pot, one-person food electric cooker, or a new category, namely hot water dispenser, and so on. From scratch to excellent, Xiao Bear has created numerous popular styles, invigorated the market for a wider range of small household appliances, and really become the weather vane of the industry. Based on the present, Little Bear Appliance can not only deeply meet the personalized needs of different types of users, but also continue to create an exquisite lifestyle for users through the layout of the whole scene.

According to Ovi online data, Q3 Little Bear Electric Appliances performed well in rigid demand categories such as rice cookers and electric pressure cookers, with sales growth of 9% and 12% respectively. It can be seen that the continuous strengthening of the rigid demand category of Little Bear is mainly due to its continuous product and technological innovation, and the rigid demand category will continue to contribute to the growth of sales scale for Little Bear. Take the electric rice cooker, for example, in view of the problem of cooking miscellaneous grains and poor taste, Xiao Xiong Electric miscellaneous grain rice cooker achieves no manual soaking rice in advance and cooks healthy Q-bullet miscellaneous grain rice more quickly through four product upgrades; aiming at the pain point of the wall-breaking machine which is noisy and difficult to clean, Little Bear Electric can disassemble and wash the wall machine with 10 times noise reduction black technology, and adopts the patent design of "detachable knife", which not only does not disturb the user, but also can clean 360 °without dead angle.

The maturity of rigid demand category is the foundation, Little Bear further expand the market by expanding emerging categories, increase market share and meet the personalized needs of users at the same time. For the group of baby mothers who require health and convenience, Xiao Bear Electric "grinding" cooking sticks and multi-functional milk conditioners are good helpers for raising children; for young people who love the outdoors, Little Bear Electric Appliances contains folding tea makers, outdoor power supplies and other products that are portable, safe and practical, and are standard for camping. For the beauty party that focuses on its own quality of life, Little Bear Electric high-speed hair dryer, tooth punch, moxibustion and other new products, novel design and easy to use, is a necessary good thing. Because of this, Little Bear's performance has increased steadily in recent years.

In addition, Xiao Bear is actively responding to industry changes and seizing the growth opportunities of emerging e-commerce to actively layout Douyin channels. According to third-party data, sales of Little Bear Appliance's Q3 Douyin platform grew rapidly in 2023 compared with the same period last year. The bright performance of categories and emerging channels will strongly lead Little Bear to continue to grow in the future.

Open the full-link digital intelligence manufacturing, become the strongest support for high-quality growth

Under the current industry situation, Xiao Xiong's performance is undoubtedly the benchmark of high-quality growth. Why can Xiao Bear outperform the industry? To get to the bottom of the matter, it has opened up the full chain of mathematical intelligence manufacturing is the strongest support. You know, in the new generation of industrial change has come, the manufacturing industry as a whole to digital, intelligent transformation and upgrading of the moment, the first step in the industry is to seize the opportunity.

Xiao Xiong Electric Appliance takes the lead in layout, speeds up the pace of digital intelligence transformation and upgrading, gradually builds digital intelligence solutions for the whole process from research and development, design, production to operation, breaks the traditional industrial structure, and strides towards digital lean manufacturing. According to the financial report in the first three quarters, Little Bear's R & D expenses increased by 11.74% compared with the same period last year, which is the performance of strengthening Little Bear's internal R & D design and digital intelligence manufacturing.

In the field of product research and development and design innovation, Little Bear Appliance uses digital tools to accurately capture user needs through big data, and feeds back to product research and development and iteration. For example, mini rice cookers and small capacity soymilk machines are specially developed for groups living alone. From landing to the production and manufacturing of products, Xiao Xiong Electric Appliances realizes the lean and efficient production of large-scale products through digital factories, and realizes the iteration of new products faster and better. At present, it has 5 intelligent manufacturing bases of 580000 square meters, more than 70 production lines and 2 domestic top-level automatic production lines, realizing the empowerment of 5G and other industrial Internet technologies.

Back to the enterprise itself, Xiao Xiong Electric Appliance has opened up the whole industry chain such as customer orders, product manufacturing, production capacity, warehousing and distribution through the system construction and integration in various business fields of research, production, supply, marketing and finance by means of process, data and system "three-wheel drive", and the use of new generation digital platforms such as ERP, intelligent manufacturing platform and marketing platform. Facing the market and users, Little Bear Appliance is different from traditional small household appliance brands and online celebrity brands that do not have the ability to develop and create their own. It keenly captures consumer trends and changes in user demand, and is based on strong R & D and strong manufacturing. It realizes the flexibility and customization of product innovation and manufacturing, which also makes Little Bear more resilient and evolutionary, and always stands up in the industry cycle.

And these are also the strong support of Little Bear Electric's continuous landing boutique strategy. By promoting high-quality products from research and development, digital manufacturing, quality and other aspects, Little Bear finally gives consumers a better product experience and service experience. This also helps Little Bear Electric Appliances to expand its territory in the market and win a broader space for development.

When the tide recedes, we will know who is swimming naked. Xiao Xiong Electric Appliance uses its strength to prove that it has come out of the burnout period ahead of the industry and reaped a steady stream of new momentum in maintaining the "fast track" of high-quality development. For Little Bear Electric, the current growth is a performance, and the high-quality growth with a long tail is the future.

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