Therefore, people will have more "free money" to spend on low-priced and delicate products, so as to obtain psychological comfort.
release time：
2023-12-28
"The worse the economy gets, the better low-priced FMCG products like lipstick will sell."
This is the famous "lipstick economy" theory. The reason is that when the economy is in a downturn, people are not confident in their future expectations and tend to be conservative in their consumption of high-priced products, so they will have more "free money" than usual.
Therefore, people will have more "free money" to spend on low-priced and delicate products, so as to obtain psychological comfort.
Since the epidemic, the global economic growth pressure, is in line with the background of the lipstick economy, and in the home appliance industry, small home appliances relative to large appliances in terms of belonging to the people are more willing to, more able to consume FMCG, during the epidemic did promote a wave of demand for the release of the achievement of small home appliances of the highlights of the time. Now, with the gradual recovery of the economy, people are more invested in social scenes, according to a number of organizations, the overall market size of small household appliances this year has shrunk significantly.
When the small appliances mapping exquisite life is no longer so effective, the industry how to face the downward market status quo?
The ever-changing small home appliance industry
As we all know, the small home appliance industry is a short cycle of new, fast-changing. This year, in addition to the much-anticipated air fryer big dive, there are many categories of change is also quite obvious.GfK in Yikang pushed the total data show that from January to September 2023, the cooking class and the environment of the home category of small household appliances scale growth rate fell by 14.5%, 12.5%, cleaning, personal care and ironing market growth rate increased by 4.2%, 25.2% and 6.7% respectively.
Translated with www.DeepL.com/Translator (free version)
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