Lack of innovation in small household appliances

The homogenization of small household appliances is mainly due to the low threshold of the industry, which attracts a large number of enterprises to enter, resulting in fierce market competition. In order to compete for market share, enterprises have imitated and copied the product designs and functions of other successful enterprises, resulting in a large number of similar products lacking characteristics in the market.

This phenomenon can lead to the following problems:

Lack of innovation: when the market is full of homogeneous products, enterprises may not be willing to invest a lot of money and human resources in technology research and development and product design in order to pursue short-term interests, resulting in the lack of innovation and characteristics of products.

Reduce product quality: in order to reduce costs, some enterprises may use low-quality raw materials and parts, resulting in unstable product performance and short service life.

Price war intensifies: due to the homogenization of products, enterprises have to adopt the strategy of price war in order to compete for market share, resulting in the compression of enterprise profit space, which further limits the ability of innovation and development of enterprises.

Consumers lose interest in buying: when all small household appliances in the market are lack of features and innovation, consumers may lose interest in buying and choose other alternatives, leading to a decline in demand in the small household appliances market.

Therefore, the small household appliance industry needs to strengthen the construction of regulations and standards, improve the industry threshold, and encourage enterprises to strengthen technology research and development and product design, improve product quality and innovation ability, so as to promote the sustainable development of the industry.