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

According to the data of Yikang in GFK, from 2012 to 2022, the sales of clean appliances in China reached a compound growth rate of 28%, and the market size also increased from 2.9 billion yuan to 34.8 billion yuan. It can be said that China's clean appliance market has achieved leapfrog growth in a decade. Although the growth rate of clean appliances is very fast, the penetration rate of clean appliances in China is still low, but this is also a great opportunity. As a new category of rigid demand for life, the market space and potential of intelligent clean household appliances is huge.

Thanks to the rapid development of China's urbanization and the rapid growth of e-commerce platform, consumers' demand for clean appliances is increasing day by day. With technological innovation and product iterative upgrading, clean electrical products also solve consumers' pain points to a certain extent, improve the use experience, and then drive the growth of the market. In the future, with the continuous innovation of subdivision scenes, the continuous deepening of consumption upgrading and the lead of emerging channels, intelligent clean household appliances will also usher in a new wave of growth. In this regard, GFK is predicted that by 2030, the entire market scale of clean appliances in China can reach 60 billion yuan, 40 million units or so.

With the increasing maturity of the clean electrical appliance market, consumers' demand for the quality and function of products is increasing, and the competition among brands is becoming increasingly fierce. Although the traditional industry giants still occupy a certain market share, but the leading edge continues to narrow, emerging brands are springing up like bamboo shoots after a spring rain, and the era of post-wave is coming.

As a late challenger, chase Technology has achieved corner overtaking by virtue of its strong R & D capability and precise strategic layout, and has become an absolute leading brand in the field of intelligent cleaning in only two years. According to GKF data, in October 2023, it became the largest omni-channel retail sales share of large cleaning products, with a market share of 22.5%. In the floor-sweeping robot category, the retail sales share increased rapidly to 21.4%, surpassing stone technology to become the industry's TOP2; floor washer category, with a market share of 30.6% and a month-on-month increase of 12.1%.

In this year's Singles' Day, pursuit Technology sold 2.1 billion yuan in all channels, and last year's Singles' Day increased by 100 percent. In Douyin, Kuaishou and other social e-commerce platforms, looking for technology to dominate the list of several categories to top the list, the brand power is skyrocketing. In the two major e-commerce platforms of Tmall and JD.com, pursuit Technology also stands out: in Tmall, pursuit Technology won the sales list of home cleaning brands TOP 1, floor cleaning robot, floor washer, vacuum cleaner three major brand list TOP 2; in JD.com, pursuit Technology ranked TOP 2, TOP 3 and TOP 4 respectively in the three major brand lists of floor washer, floor sweeper robot and vacuum cleaner.

Offline, Chase Technology reached 20 million customers during the "double 11" period, received 350000 visitors, 30,000 families bought products, and the cumulative turnover exceeded 100 million. In the Southeast Asian market, Chase Technology sales exceeded 100 million, and a number of best-selling products, including L20 Ultra and H12 Pro, were sold out.

Throughout the year, chase technology has been booming, leading the development of the industry. In the first half of this year, chase technology has become the only high-growth brand in the floor-sweeping robot industry with a growth rate of 138.6%. From January to September 2023, the revenue of pursuing brands increased by 106% year-on-year, while the overseas search business grew by 110% from January to July 2023. In the high-end market, pursuit technology also performs well. Oviyun data show that from January to October 2023, the market share of floor-sweeping robots with pursuit technology in the 5000 yuan + price range ranks first, with a market share as high as 40.13%.

As early as the beginning of this year, Chase Technology proposed to be number one in technology, market share and profit in the next three years. Then how can chase achieve the three firsts and become the weather vane of the industry? The answer may not be unique, but it is certain that the pursuit has led the industry in market layout, product research and development, marketing strategy and channel construction, and the three first goals are not just a slogan.

On November 16, the performance & Product Technical Communication meeting was held on November 16, which comprehensively analyzed the recent achievements and the future development pattern. The following is the record of Qattora (edited).

Rapid growth, looking for two years to be a leading brand in the cleaning category

Q: the pursuit of Singles Day has achieved a growth of 100%. How is pursuit achieved? Can it continue to grow?

Chase Technology: chase Technology has doubled its growth on Singles Day this year, and ranked No. 1 in the smart cleaning field in October, according to GFK. The success factor of pursuing technology to maintain high growth mainly lies in the pursuit of leading technology and product power, so new users and old users firmly choose to pursue.

Chase, as a young technology company, always attaches importance to the real needs of users and is deeply loved by young users. behind maintaining the vitality of product innovation, chase spares no effort to increase R & D investment, forming a huge technology compound interest effect. so that chase can be targeted to bring more suitable products and prices for different user groups.

Finally, the rapid development of domestic and international, online and offline multi-channels is also an important weight to pursue the future to maintain high growth.

Q: what are the technical advantages of looking for core categories and what is the current market share? What are the achievements in the high-end market?

Search for technology: in the category of floor-sweeping robots, the exclusive research and development of bionic robotic arm technology can really solve the pain points of users' corner cleaning, and become the standard for users to choose and buy floor-sweeping robots. X30 Pro as the new flagship of the bionic robot family successfully entered the market sales of TOP 10, and the cumulative sales of the bionic manipulator family exceeded 150000 units. With the trend that frivolous embedding has become the development trend of high-end household appliances, seeking homeopathy has launched the pursuit of Master space master, perfectly integrated into the modern decoration style, and become the absolute king of omni-channel 7k + price end and embedded floor sweeping robot, with a market share of far more than 90%. According to Oviyun's data from January to October 2023, the market share of searching for floor-sweeping robot products in the 5000 yuan + price range ranks first, as high as 40.13%. In October alone, the market share is as high as 50.71%.

Hot air drying and hot water self-cleaning technology for floor washing machines has become the purchase standard for most users. The H12 series of floor washing machines sold 55000 units on the first day of double Twelfth, and the average unit price of the whole system far exceeded that of the industry and competitive products.

The whole army went out and blossomed both online and offline at home and abroad.

Q: what is the performance of online and offline channels at present? what are the highlights of offline channels?

Pursuit of technology: the pursuit of online and offline is a two-line state of rapid development, the channel ratio is balanced, there are no inferior channels. At present, the magnitude of searching in the three platforms of Tmall, JD.com and Douyin is relatively equal, and it maintains a good cooperative relationship with the docking parties of each online platform, and is supported by key channels.

As of November 2023, Chase China has covered more than 166 cities offline, with more than 767 terminal stores. For pursuit, both direct marketing and distribution should be committed to providing users with better products, experiences and services.

Looking for multiple channels such as laid out shopping centers, traditional department stores, KA chains, furniture and building materials, covering more than 166cities across the country. In Sam, box horse, opening customers and other KA merchants, chase has more obvious perception than competitive products, sales are far ahead, can achieve better profitability, so that high-end walk more stable and smooth.

Q: what are the achievements and actions in internationalization?

Search for science and technology: pursue the global development strategy of adopting multi-category three-dimensional layout, and do category extension and innovation based on core technology, with products covering more than 120 countries and regions, such as China, the United States, Germany, Japan, and so on. and settled in the Middle East, Africa, India, South America and other emerging markets in 2023.

In terms of product design, we pursue the localization strategy that adapts measures to local conditions, and pursue a more mature development in Southeast Asia, Russia, Northeast and Southwest Europe, with a leading growth rate in the industry. In 2022, revenue in Southeast Asia grew by more than 450%, Russian-speaking regions by more than 350%, Northern Europe by more than 700%, and Western Europe by more than 150%.

In the Southeast Asian market, the total sales of Singles' Day in 2023 exceeded 100 million, a year-on-year increase of nearly 10 times, accounting for Shoppe intelligent cleaning appliance Best-Selling TOP 1; floor sweeping robot L20 Ultra sales 5000 + units; floor washer sales exceeded 7500; hair dryer sales are more than 10,000.

The highly competitive intelligent cleaning industry is looking for how to break the situation.

Q: will there be more differentiated technological innovation in pursuit, and in what direction will it be?

Pursuing science and technology: technological innovation is the foundation of pursuing science and technology, pursuing and persisting in long-term high investment in R & D of cutting-edge technology and technology, continuously increasing the ecological layout of generalized robot technology, and constantly reusing cutting-edge technology into multi-category products.

In the category of floor-sweeping robots, the focus will be on cleaning force and self-cleaning force. In terms of cleaning power, Chase will continue to make breakthroughs in high-speed digital motor technology, bionic robotic arm technology and intelligent obstacle avoidance technology based on AI algorithm. In the future, we can imagine using robotic arm technology and algorithms to lift plush toys or shoes that block the road, clean the floor, and then put them down.

In terms of self-cleaning power, chase will actively cooperate with the pre-installation market to create ultra-thin embedded active self-cleaning base station technology, while bringing stronger sterilization technology and hair cutting ability.

In the category of floor washing machines, chase will continue to specialize in strong cleaning technology to deal with stubborn stains and solve hair winding problems; in terms of self-cleaning ability of floor washers, chase will also make efforts in hot air drying, hot water washing and rolling brushes, sterilization and base station launching and disinfection; in terms of experience, it will focus on solving the problem of water stains, so that it can be dragged and dried.

Q: what are the competitive barriers in pursuit of core components? can you tell us the latest progress in R & D and the future direction of technological development?

Pursuit technology: all along, pursuit technology has focused its research and development on the sensing, processing and execution of robots, and has intelligent factories that can meet the production of robot core components to organize a whole set of intelligent factories. it has achieved a lot of innovative success in high-speed motors and aerodynamics, even surpassing Dyson in performance.

At present, the high-speed digital motor has reached the technical level of 160000 rpm / min, 180000 rpm / min and 200000 rpm / min, ranking among the world's leading levels. at the same time, we are looking for the R & D and design capabilities of two types of planetary joints / harmonic joints, and reach the forefront of the industry in the batch performance indicators of many models.

In terms of intelligent algorithms, the search has the ability of the industry-leading AI recognition algorithm, and continues to reserve advantages in motor bottom control and robot motion control, navigation algorithm, vision and AI algorithm.

As of November 2023, the global cumulative number of patents for pursuit of science and technology has reached 4241, including 1457 invention patents. In the direction of generalized robots, a total of 1300 patents have been applied for, involving many core technology points, such as electric control, transmission, perception and so on.

The annual R & D investment of pursuit technology accounts for about 10%, and R & D personnel account for more than 70%. The investment in R & D is far higher than that of their peers. In the future, search will spare no effort to increase R & D investment to ensure sustainable upgrading of technology.

From the challenger to the absolute leader in the industry, the business model of looking for technology for quantity has been validated and has been recognized and supported by both consumers and the industry. As a company with robot genes, Chase has mastered the core high-end technology in the clean appliance industry, and with the effective reuse of the underlying technology, Chase can continue to create the best products for consumers at the same price and bring the best use experience. In the future, Chase will create more technical products through high R & D investment and achieve full-price product layout, so as to enhance the penetration of clean household appliances and lead the industry into the next period of rapid growth.

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