Recently, Ms. Duyen Hong, who lives in Ho Chi Minh City, Vietnam, purchased an AQUA multi-door refrigerator under Haier's price of over RMB 10,000. According to Vietnam, which has a low consumption level and an average monthly salary of about 1,800 yuan, this is extremely extravagant for most people. When talking about the reason for choosing AQUA refrigerator, she said that it was mainly because her daughter bought AQUA's T-door refrigerator a year ago and she left a good impression. The refrigerator is equipped with the original function of dry and wet storage, which greatly satisfied. The differentiated storage needs of Vietnamese users.
In fact, Ms. Duyen Hong is not a case. In Vietnam, Haier Refrigerator has achieved the brand value through the high-end layout and won the favor of many Vietnamese users. According to GFK data, Haier's AQUA multi-door refrigerator market share is 22.5%, ranking in the multi-door refrigerator market NO.1; in March this year, AQUA refrigerator market share in Vietnam reached 20%, ranking first in the industry. This is further evidenced by the “Haier era†of refrigerators in the world, and Haier’s global brand influence is deepening.
Chinese refrigerator companies in Vietnam: opportunities and challenges coexist
For Chinese refrigerator companies, the huge potential of the Vietnamese market and the space left by the popularity of refrigerators provide an excellent opportunity for their development. On the one hand, Bloomberg News forecasts that Vietnam will continue to rank among the top in Asia with a 6.5% economic growth rate in 2018. The rapid development of the economy has a huge effect on the refrigerator market. On the other hand, previous data showed that the penetration rate of the Vietnamese refrigerator market was 49%. Vietnam's total population exceeds 90 million. Such a large market base also means that the demand for refrigerators is still large. Affected by economic growth and consumption upgrades, the Vietnamese refrigerator market has experienced rapid growth with a growth rate of 10%.
As a developing country, the potential of the Vietnamese refrigerator market is obvious to all, but at the same time, Vietnam's real social situation also puts higher demands on Chinese refrigerator companies. Although Vietnam is a “neighbor†of China, Chinese refrigerator companies have innate geographical advantages, but little is known about the economic culture, consumer demand, and channel construction of the Vietnamese market.
In addition to the social factors in the Vietnamese market, Chinese refrigerator companies are also facing challenges from other refrigerator companies in the world. Compared with the Japanese and Korean companies that started early in China's refrigerator enterprises, they have turned their eyes to Vietnam since the last century, and some enterprises have set up refrigerator factories in Vietnam. The localization is firmly rooted and once formed a monopoly pattern dominated by Japanese and Korean brands.
Haier Vietnam's main high-end differentiation strategy: market share of 20%
In recent years, the development opportunities in the Vietnamese market have attracted many Chinese refrigerator companies to enter. In the face of the coexistence of opportunities and challenges in the Vietnamese market, Haier Refrigerator has achieved the “Trinity†localization through measures such as layout factories since its entry into the Vietnamese market, and has broken through the market barrier with high-end strategy and product differentiation strategy, achieving high-end The multi-door market and the overall market share ranked first.
Specifically, one, the AQUA refrigerator has developed a unique high-end road in the Vietnamese market. For Vietnamese users, refrigerators with a price of 4,500 yuan and a volume of 450 liters or more are high-end refrigerators. In recent years, AQUA refrigerators are constantly introducing high-end products such as T-doors, door-to-doors and multi-doors into the high-end market in Vietnam, and have achieved results, with high-end products accounting for 20% to 25%.
Second, the high-end differentiated products of AQUA refrigerators meet the storage needs of users. As the world's second largest coffee exporter, Vietnam has a huge coffee production. However, the local high temperature and high humidity tropical monsoon environment is not conducive to the storage of coffee and other ingredients. Based on this, the wet and dry storage technology developed by Haier not only provides a storage environment with a humidity of 90% for fruits and vegetables, but also provides a dry storage environment of 45% for dry goods such as coffee and tea. In addition, the glass appearance and large-capacity design of AQUA refrigerators highlight the noble and beautiful products, which meets the local consumer's aesthetic appearance and large-capacity consumer demand for refrigerators.
To export products to the outside world, we must export innovative models and brand claims, which is the only way for the brand to rise. Under the guidance of the “one person in one†mode, AQUA refrigerators have reached the first place in the Vietnamese market, and Haier refrigerators have topped the list in the global market for 10 consecutive years, and the brand is in the hearts of global users. This not only shows that the world's refrigerators have entered the "Haier era", but also that Chinese companies have set a model on the road to globalization.
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