Latest Data | China's monthly online sales of smart door locks surpassed one million units
According to the "China Smart Lock Online Retail Market Monthly Tracker" report by RUNTO, in October 2024, China's online smart door lock market (excluding emerging e-commerce platforms like Pinduoduo, Douyin, and Kuaishou) reached sales of 1.0003 million units, marking an 83.1% year-on-year increase and a 114.8% month-on-month increase. The total sales revenue was 1.24 billion CNY, up 68.6% compared to the previous year and 194.5% from the previous month. This is the first time that China's e-commerce sales of smart door locks have surpassed one million units in a single month.
The primary factors driving this surge were the early start of major promotional events combined with government subsidy incentives. The 2024 Double 11 sales event began on October 14, running for a record-long 35 days, featuring a variety of promotions including discounts, direct price cuts, billion-
CNY subsidies, and significant platform coupons. Additionally, local governments offered trade-in subsidies tailored to regional needs, leading to price reductions of over 20%—and in some cases up to 35%—for popular models from leading brands.
The 2024 monthly sales and changes in China's online smart door lock market
Source of Data: RUNTO Online Monitoring Data, Unit: 10,000 sets.
Promotions Drive Average Price Above 1,000 CNY
In 2024, the average price of smart door locks in the online market has fluctuated around 1,000 CNY, dipping below this mark during off-peak seasons. However, during promotional periods, the substantial discounts from leading brands typically push the average price above 1,000 CNY. According to RUNTO's online monitoring data, in October 2024, the average online price for smart door locks rose by 37.1% month-on-month to 1,236 CNY.
Due to attractive discounts on high-end products, the market share for mid-to-high-end segments showed significant growth. The price ranges of 1,000-1,499 CNY, 1,500-1,999 CNY, and 3,000-3,499 CNY were particularly notable, with sales in each segment more than doubling year-on-year.
However, the dominant price range in the online market remains below 1,000 CNY. RUNTO's monitoring data indicates that in October 2024, the sub-1,000 CNY segment accounted for 47.5% of total sales, with a 79.7% year-on-year increase in volume.
2022-2024 Trend of Average Prices in China's Online Smart Door Lock Market
Source of Data: RUNTO Online Monitoring Data, Unit: CNY.
Top 3 Brands Remain Stable; Haier and Inshow Show Rapid Growth
According to RUNTO's online monitoring data, in October 2024, the market share of the top four brands (CR4) in the online smart door lock market increased by 4.2 percentage points to 52.5%.
Leading brands Xiaomi, Desman, and Kaadas firmly held the top tier, with each brand achieving a sales share of over 8%, and their combined share reaching 46.4%. Haier and Inshow ranked in the second tier, with sales shares between 5% and 7%. Brands like Lockin, EZVIZ, and Huawei had sales shares below 4%.
Notably, livestreaming continues to be a key promotional strategy in the smart door lock industry, with single products from Dessmann and Inshow surpassing 10,000 units sold in major influencers' livestreams.
Facial Recognition and Cat-Eye Screens Penetrate Over 40%
RUNTO's data also showed that in October 2024, the penetration rate of facial recognition smart door locks reached 40.0%, up 14.5 percentage points year-on-year. The penetration rate for smart locks with cat-eye screens was 50.2%, representing a 15.8 percentage point increase from the previous year.
Among multifunctional products, the "Facial Recognition + Cat-Eye + Screen" series saw the most notable growth. Sales for categories such as "Facial Recognition + Cat-Eye + Screen," "Facial Recognition + Cat-Eye + Screen + Palm Vein," and "Facial Recognition + Cat-Eye + Screen + Finger Vein" all surged by more than 200% year-on-year.
October 2024 Year-on-Year Sales Change for Typical Products in China's Online Smart Door Lock Market
Source of Data: RUNTO Online Monitoring Data, Unit: %.
November 11 Boosts Traditional E-Commerce Smart Lock Sales by 44% in Q4
The Double 11 shopping festival has concluded. According to RUNTO's data, during the 2024 Double 11 period, traditional e-commerce platforms in China saw smart door lock sales surpass 1.1 million units. Driven by this event, it is expected that the online market (excluding emerging platforms like Pinduoduo, Douyin, and Kuaishou) will reach 1.91 million units in sales during Q4, marking a 44% year-on-year growth.