Core Viewpoint - Chinese brands, particularly Haier, are successfully establishing a high-end image in the European refrigerator market while facing low-price competition from other Chinese e-commerce platforms [1][2]. Group 1: Market Dynamics - The European refrigerator market is valued at $13.36 billion with a compound annual growth rate (CAGR) of 3.06% [1]. - Low-price strategies are prevalent among Chinese brands, with discounts reaching up to 50% during major sales events like "Black Friday" [1]. - The EU's new energy efficiency policies are driving consumers to replace old appliances, leading to a 2.4-fold increase in sales of new A-rated refrigerators in 2023 [1]. Group 2: Haier's Market Position - Haier has become a significant player in the European refrigerator market, ranking among the top three brands alongside local giants Beko and Bosch [2]. - Haier's price index exceeds 140, indicating a strong positioning in the high-end segment, with its refrigerators leading the €2000 price range in France [2]. - Haier's multi-door refrigerators hold a 40% market share in Europe, showcasing its dominance in the high-end segment [2]. Group 3: Global Leadership and Innovation - Haier has maintained the number one global retail volume for refrigerators for 17 consecutive years, demonstrating its market leadership [3]. - The company's success is attributed to localized research and development, having started exporting to Germany in 1991 and understanding European consumer needs [3]. - Haier's innovative drawer-style refrigerator, launched in 2008, addresses practical and energy-saving needs, contributing to its high-end market positioning [3].

Core Insights - The domestic refrigerator market in China is experiencing growth, with a clear trend towards high-end products and segmentation based on specific usage scenarios [1][5] - Midea has launched the world's thinnest sideboard refrigerator, designed to meet the aesthetic and functional needs of modern consumers [3][9] Group 1: Market Trends - The refrigerator industry is shifting towards high-end products, with consumers seeking advanced features such as AI management, remote control via mobile apps, and smart food recognition [1][5] - The price ceiling in the refrigerator market is being broken, with high-end models reaching prices up to 50,000 yuan [1] - There is a growing demand for personalized and aesthetically pleasing appliances that integrate seamlessly into home decor [5][7] Group 2: Product Innovations - Midea's new sideboard refrigerator has a thickness of only 45 cm and a capacity of 427 liters, allowing for seamless integration into kitchen spaces [3][9] - The refrigerator features a unique "left for ready-to-eat, right for cooking" storage layout, catering to the needs of younger consumers who prioritize both functionality and design [3][7] - Midea is also focusing on high-end customization options, allowing consumers to choose panel colors and internal configurations to match their home environments [8] Group 3: Competitive Landscape - The Chinese refrigerator market, previously dominated by foreign brands, is now seeing increased investment and innovation from domestic companies like Midea [5] - The market share of built-in refrigerators has rapidly increased, reflecting a shift in consumer preferences towards integrated home solutions [5]