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At present, the sales of locks are relatively stable, but the industry generally lacks brand awareness - Zongyi
2023-06-05
In the current home market, customers are selling breakeven products to recover funds and reduce inventory pressure, resulting in an increase in sales of door and window locks. At present, the performance of the lock market is as follows: in terms of domestic sales, the trend of door locks, handle locks, anti-theft locks, hinges, door stoppers, etc. is good, and the trading volume is large; Chain locks, motorcycle padlocks, and disc locks are popular among consumers and have considerable sales. In terms of export sales, foreign merchants mainly focus on inquiry and return orders, with a strong wait-and-see atmosphere. Traditional styles have stable sales and broad prospects.
Recently, due to downward fluctuations in the prices of copper, zinc and other metal raw materials, merchants have carried out breakeven sales to recover funds and reduce inventory pressure. Sales of most lock products have increased. In addition, the introduction of measures to expand domestic demand has alleviated some of the pressure caused by the financial crisis, and the significant increase in domestic sales is a powerful supplement to the contraction in export sales. At present, the market performance is as follows: in terms of domestic sales, there is an increase in home decoration in autumn and winter, with good trends in products such as door locks, handle locks, anti-theft locks, hinges, and door suckers, and a large trading volume; Chain locks, motorcycle padlocks, and disc locks are also popular among consumers and have considerable sales. In terms of export sales, foreign merchants mainly focus on inquiry and return orders, with a strong wait-and-see atmosphere.
Traditional styles have stable sales and broad prospects. As the New Year approaches, the demand for traditional door locks among the general public has increased, such as spherical locks, handle locks, and plug-in door locks. Recently, the sales trend has been stable, with domestic sales being the main focus. Most merchants also produce door locks according to different levels of demand in urban and rural areas, and the sales prospects are very promising.
Multiple factors make the lock industry highly competitive
However, currently, about 88% of the lock products in the market come from within Zhejiang Province, with Yiwu accounting for about 28% of the local market, and the direct sales proportion of manufacturers reaching 70.5%. The main focus is on producing low-end lock products, while high-end products are scarce. Due to the fact that the lock industry is a labor-intensive industry with low entry barriers and low level of specialization, competition is becoming increasingly fierce.
General lack of brand awareness
The scale of China's lock industry is small, and there are not many leading enterprises, which cannot effectively drive the development of the lock industry. China's lock industry belongs to the low-end market, and the enterprises themselves lack brand awareness and do not pay too much attention to brand establishment. Some enterprises are only limited by factors such as workshops, funds, and manpower, and lack brand awareness.
The increase in raw material costs has recently driven up costs in many downstream industries, including the lock market. The increase in raw material costs has constrained the development of some enterprises, which may face bankruptcy. Some enterprises will increase product prices to absorb the increase in costs, reducing their profit margin and increasing competition, which also seriously affects the establishment of corporate brands. So the development of China's lock market is slow.
A new round of technological competition in the high-end lock industry has begun, and the future development trend of high-end products with high technological content is obvious. In recent years, with the rapid development of pillar industries such as residential, automotive, mid to high end office buildings, and hotels, as well as the increasing demand for highly preventive lock products in defense, public security, finance, and other systems, high-end locks have become popular. Due to the high technological content, more prominent humanization, and personalized characteristics of high-end locks, the product profit is also relatively high. In addition to the accelerated replacement speed of lock products, high-end locks will gradually become the mainstream among locks. According to industry insiders' estimates, the market prospects for high-end locks will be very promising.
Establishing a corporate brand is closely related to the price of a company's products during the development process. Product prices always affect the company's sales revenue and profits. In addition to the performance, technical content, and purpose of the product, there is often an intangible thing that determines the price of the product, which is the brand of the enterprise. In the trade arena, merchants choose a certain brand of product. As long as the product has excellent quality and generates credibility in the minds of consumers, the brand has value. Even if the price is much higher than other similar products, consumers still buy it and use its high price as a symbol of noble status.
Recently, due to downward fluctuations in the prices of copper, zinc and other metal raw materials, merchants have carried out breakeven sales to recover funds and reduce inventory pressure. Sales of most lock products have increased. In addition, the introduction of measures to expand domestic demand has alleviated some of the pressure caused by the financial crisis, and the significant increase in domestic sales is a powerful supplement to the contraction in export sales. At present, the market performance is as follows: in terms of domestic sales, there is an increase in home decoration in autumn and winter, with good trends in products such as door locks, handle locks, anti-theft locks, hinges, and door suckers, and a large trading volume; Chain locks, motorcycle padlocks, and disc locks are also popular among consumers and have considerable sales. In terms of export sales, foreign merchants mainly focus on inquiry and return orders, with a strong wait-and-see atmosphere.
Traditional styles have stable sales and broad prospects. As the New Year approaches, the demand for traditional door locks among the general public has increased, such as spherical locks, handle locks, and plug-in door locks. Recently, the sales trend has been stable, with domestic sales being the main focus. Most merchants also produce door locks according to different levels of demand in urban and rural areas, and the sales prospects are very promising.
Multiple factors make the lock industry highly competitive
However, currently, about 88% of the lock products in the market come from within Zhejiang Province, with Yiwu accounting for about 28% of the local market, and the direct sales proportion of manufacturers reaching 70.5%. The main focus is on producing low-end lock products, while high-end products are scarce. Due to the fact that the lock industry is a labor-intensive industry with low entry barriers and low level of specialization, competition is becoming increasingly fierce.
General lack of brand awareness
The scale of China's lock industry is small, and there are not many leading enterprises, which cannot effectively drive the development of the lock industry. China's lock industry belongs to the low-end market, and the enterprises themselves lack brand awareness and do not pay too much attention to brand establishment. Some enterprises are only limited by factors such as workshops, funds, and manpower, and lack brand awareness.
The increase in raw material costs has recently driven up costs in many downstream industries, including the lock market. The increase in raw material costs has constrained the development of some enterprises, which may face bankruptcy. Some enterprises will increase product prices to absorb the increase in costs, reducing their profit margin and increasing competition, which also seriously affects the establishment of corporate brands. So the development of China's lock market is slow.
A new round of technological competition in the high-end lock industry has begun, and the future development trend of high-end products with high technological content is obvious. In recent years, with the rapid development of pillar industries such as residential, automotive, mid to high end office buildings, and hotels, as well as the increasing demand for highly preventive lock products in defense, public security, finance, and other systems, high-end locks have become popular. Due to the high technological content, more prominent humanization, and personalized characteristics of high-end locks, the product profit is also relatively high. In addition to the accelerated replacement speed of lock products, high-end locks will gradually become the mainstream among locks. According to industry insiders' estimates, the market prospects for high-end locks will be very promising.
Establishing a corporate brand is closely related to the price of a company's products during the development process. Product prices always affect the company's sales revenue and profits. In addition to the performance, technical content, and purpose of the product, there is often an intangible thing that determines the price of the product, which is the brand of the enterprise. In the trade arena, merchants choose a certain brand of product. As long as the product has excellent quality and generates credibility in the minds of consumers, the brand has value. Even if the price is much higher than other similar products, consumers still buy it and use its high price as a symbol of noble status.
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