Smart Door Lock Annual Report: Five Highlights for 2023---Part 3
Channel section: Diversified coexistence of pathways, stabilizing tradition and expanding new horizons
The rise of China's household smart door lock industry is in a period of channel transformation, with stable development of traditional e-commerce, continuous expansion of emerging e-commerce, and gradual increase in the rate of high-end decoration matching. The industry has shifted from offline to dual line collaboration, and then to global retail.
Traditional e-commerce: Affected by factors such as industry scale development, cost reduction, and brand competition, the prices of traditional e-commerce channels have declined. From the perspective of product price structure, the proportion of low-end products has increased significantly. According to online monitoring data from AVC, retail sales of products priced at 800 yuan and below accounted for 45.6%, an increase of 14.1 percentage points from last year. However, under the layout of brands such as Kaidi Shi, Deshmann, Luke, and Huawei in the high-end market, the proportion of retail sales above 2500 yuan remained basically unchanged compared to last year, and the proportion of retail sales reached 19.4%, an increase of 1.9 percentage points compared to last year. At the same time, the average price in the high-end price range showed an upward trend.
Emerging e-commerce: Currently, emerging e-commerce is booming, and various industries are actively expanding, including China's home smart door lock industry. According to online monitoring data from AVC, the proportion of emerging e-commerce in the online market will further increase in 2023. Among them, the proportion of retail sales was 29%, an increase of 4 percentage points from last year; The proportion of retail sales was 24%, an increase of 6 percentage points from last year. From the perspective of price range structure, the increase in the proportion of high-end products in emerging e-commerce is also one of the main reasons for the annual average price increase.
Fine decoration channel: The matching rate of smart door locks in the fine decoration channel has shown a continuous growth trend. According to big data from AVC Real Estate, the matching rate reached 82.2% from January to November 2023. In the smart door lock supporting brand structure of the refined decoration market, Kaidi Shi brand occupies the first place. Compared with the same period last year, Yale and Desman have improved their rankings, and Sakura has entered the TOP10 ranking.
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