Analysis Of Current Status And Development Prospects Of Power Tool Industry A

- Jul 10, 2018 -

The development of economic globalization is deepening and the market for power tools is developing rapidly. The Internet has transformed many business models of traditional industries over the years. As a traditional industry, power tools are inevitably subject to the challenges of the Internet. Many power tool companies embrace the e-commerce market. In an attempt to be free from the subversive effects of the marketing model. For the time being, the power tool industry, which is huge in the market, has not been fortunate to become a piece of fat on the e-commerce market.

The transformation of electric tools can be seen everywhere. In the early years, by building a self-owned brand e-commerce platform, due to the manpower and capital consumption, and the inability to achieve the expected traffic, it began to slowly be abandoned. At present, it is mainly a third-party B2C e-commerce. Platforms such as Tmall, Jingdong, Suning, Amazon, etc. The benefits brought by entering the e-commerce market are that the power tools change their production, operation and sales through the Internet, so that small and medium-sized brand power tool enterprises can get more opportunities and take the future into their own hands.

According to analysis, in recent years, the power tool industry has shown a rapid development trend, with a convenient sales model of e-commerce, domestic power tools firmly occupy the main domestic market, as consumers become more aware of the brand, foreign countries such as Bosch, Hitachi, Stanley and other power tool brands began to “invade” the domestic market with the help of e-commerce platforms. Although China is the world's largest production base for hand tools, export tools are mostly OEM-based. Many foreign well-known brands purchase and label the products and sell them back to the domestic market. In addition, the market competition of domestic enterprises is not standardized, which makes the export prices lower and lower. Therefore, domestic brands face enormous challenges.

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