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Stock stable, industry benign turnover

The third quarter continued the trend of the first half, the overall channel inventory situation is relatively good. Large lighting and CSAResearch joint research shows that the physical market channel store average inventory ratio of 39%, the average inventory turnover rate of about 2.6 times, the basic and the first half of the flat. Among them, 58% of the dealer inventory in the normal or normal high within the scope of stocking more adequate, normal operation. There are 30.87% of the dealers reflect the existence of inventory backlog, of which about 8% of the dealer inventory backlog serious.

From the market situation at all levels, although the three or four lines of the market is much higher than the second-tier market, but a second-tier market inventory backlog than the three or four lines of serious market. From the data point of view, the highest for the three-tier market, inventory accounted for the proportion of sales accounted for 56% of the average, close to Liu Cheng, which means that the average market share of the third line market is 1.6 times the market line. However, feedback from the dealer point of view, three or four lines of market inventory backlog is far lower than a second-line market. Third-line market at least, only 17% of the dealers reflect the existence of inventory backlog, the lowest of the four; second-tier market inventory up to 35% inventory rate, the first-line market also has about 30% of dealers reflect the existence of unsalable inventory. It is noteworthy that the four-wire market is still 2% of the shops reflect the stock can not keep up, can not meet the sales needs.

The second half of the three-tier market penetration rate, the market capacity growth faster, indoor lighting products and light source products sold smoothly. Coupled with the focus of the manufacturers to develop third-line market and laying outlets, the sales incentives and after-sales service policy in place, so that the three-line market dealers better inventory conditions. Second-tier market growth slowed down in the second half, and fierce competition, the introduction of new high frequency, product prices fell faster, leading dealers do not want inventory.

4. High-speed growth period, corporate expansion, brand melee

(1) business continued to force the market, the home market gradually opened

Commercial lighting market is the fastest growing market, 2014 is the outbreak of business license. According to CSAResearch estimates, by the end of 2013 LED commercial lighting penetration rate of about 12% in 2014, commercial lighting LED lighting products in the amount of more than 70% will increase in 2013. Entity channel data show that the first half of commercial lighting products, the overall increase of more than 30% in the third quarter fell slightly, but still maintain about 23% growth rate.

From the research situation, 65% of the dealers said that commercial lighting is one of the main segments of its market, clearly to commercial lighting for the main products accounted for 52.11%. 85% of the merchant’s business reflects the most significant increase in sales in 2014, with a growth rate of 10% to 30%, accounting for about 6%, about 20% Merchants achieve high growth (more than 30%).

In the market, the products with better sales are downlights, tube lamps, bulb lamps and spotlights. The downlight (including the ceiling) is the best selling category in the market, and the fastest growing is the flat light And cast light. Brand, Panasonic, Mu Lin Sen, Yaming, billion light, Philips, Foshan lighting, Shi Ford, Qin Shang, three male aurora and NVC are outstanding.

Sub-area, the hotel lighting growth slightly faster than the business and office lighting. From the actual level, the three-and four-line market growth significantly, especially the three-tier market, business super market growth rate or even 40%; and first-line, second-tier market growth has stabilized. In addition, the four-line market and even township-level channels, under the guidance of the project, LED commercial lighting products increased significantly.

The second half of the home market performance is better than the first half. Mainly in the home market dealers, 86% reflect the sales of home lighting products increased significantly over the same period last year, of which 16.4% of the dealer growth rate of more than 30%. And the business is different from the market, the home market is still a typical alternative market, downlight is the highest sales of products, followed by bulb, tube lights, spotlights and other light source products, bulb is the fastest growing Home products.

(2) market dispersion, segmentation of the brand competition situation gradually established

2014 LED lighting market is the rapid outbreak of the year, but also a large influx of the brand a year. With the LED market this piece of cake is constantly bigger, many brands also accelerate in the channel “Happy Valley enclosure”, the traditional lighting brand and emerging LED brand constantly confrontation, competition intensified, LED lighting market concentration significantly reduced. According to CSAResearch and large lighting joint research data show that the first three quarters of 2014, the physical channel distributors TOP3 brand market share of about 22.1%, compared with 2013 decreased by 18.4 percentage points.

Although the market share has been diluted, but the vast majority of brand sales volume is still growing significantly, 83.8% of the brand channel sales growth significantly, but also 16% of the brand sales decline.

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From the perspective of market competition, the traditional lighting brand with its many years of accumulated resources, have achieved a successful transition in 2014, LED lighting products continue to increase the proportion of sales. Overall, the top 20 brands in the sale, the traditional lighting strong brands, such as Op, NVC, Foshan Lighting, Philips, three male Aurora still occupy 15 seats, five emerging lighting brands, including woods, billion light, ground , Long side, Youyou also into the top 20 seats. However, sales growth from the dealer point of view, the growth rate of emerging brands is much higher than the traditional lighting brand, wood Linsen, billion light is the fastest expansion of the two brands.

From a single product point of view, emerging brands began to attack the traditional strong brand. According to CSAResearch and large lighting joint research data show that about one-third of the best-selling products in 2014 sales fell significantly, two-thirds of the basic growth. However, TOP25 brand of a single product, 70% of the best-selling products are a large decline. Among them, the biggest impact is the international brand, Philips, OSRAM’s best-selling single product sales in 2014 fell to four percent to 60%; and Yaming, Buddha, Qin Ming Shi and other traditional lighting big selling single product sales year on year The decline is more than 4 percent.

However, the traditional three people NVC, three male aurora, Op, but still maintained a significant increase in sales of single product, especially NVC and three male, single product growth rate of up to 80%, which is mainly due to years of brand management and solid Of the channel network to easily achieve from the energy-saving lamps to LED lighting “seamless docking.” New LED brand, the wood Lin Sen single product performance, growth of more than 100%, rectangular lighting, billion light growth rate also reached 60% to 70%.

(3) “high brand, low price” is the mainstream trend of products

Continuation of the first half of the trend, “high brand, low price” LED lighting products continue in the entity channel “big kill four.”

At present, the highest sales of products mainly concentrated at both ends: First, the higher value-added ceiling lamps, lanterns in the field of lamps, the traditional lighting brands have been admitted, a large number of professional areas of lighting brand fierce competition, the market growth Accompanied by a sharp decline in prices, while the domestic brand has a high reputation of the traditional lighting, Philips, NVC, Op and other brands grow rapidly. On the other hand, in the field of low value-added light source products, the advantages of traditional light source brand by a greater impact, a large number of emerging brands influx, these brands with relatively low prices to capture the market. Wood Linsen, billion light, the country star photoelectric and other significant growth, while the traditional light source brand growth rate than the first half has slowed. This feature is manifested in the northeast, central and western regions and second and third line market is particularly evident.

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