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E-commerce helps hardware tools open up new battlefield
In the article, it's highlighted how e-commerce has become a powerful new frontier for hardware tools, especially in China. According to 2011 data on import and export of the tool industry, China’s position as a leading player in the global hardware market is being solidified. In that year, the total value of tool hardware exports reached $10.606 billion, showing a 26.7% increase compared to the previous year. Specific categories like small power tools saw a 22.3% growth, reaching $2.614 billion, while sawing products rose by 24.9% to $1.212 billion. Measuring tools had a significant jump of 50%, hitting $897 million, and garden tools increased by 16.8% to $563 million. Pliers and wrenches also performed well, with increases of 28.3% and 24.1%, respectively, while kit tools grew by 15.9% to $431 million.
On the import side, the total value was $5.166 billion, up 21.9% year-on-year. Notably, measuring tools were the largest import category, at $2.673 billion, rising 26.4%. Small electric tools increased by 16.1% to $433 million, and kits saw a massive 53.8% surge to $40 million. This indicates strong demand for quality tools in key markets, even amid economic challenges.
Traditional hand tools such as wrenches, pliers, and saws continue to be highly sought after globally, maintaining steady growth of around 20% over time. This shows that Chinese manufacturing is gaining more traction in the international market. Meanwhile, the domestic market presents a different challenge, with high-end brands like Stanley and Shida still dominating. Smaller brands face an uphill battle but can now leverage e-commerce to level the playing field.
With the rise of the internet, e-commerce has become a game-changer. The growth of platforms like Taobao and Tmall illustrates this trend. For example, during the "Double 11" event, sales skyrocketed from 52 million yuan in 2009 to 19.1 billion yuan in 2012, showcasing the immense potential of online retail.
According to iResearch, China's e-commerce market expanded significantly in 2011, with a transaction volume increasing by nearly 2 trillion yuan compared to 2010. Looking ahead, the market is expected to maintain its upward trajectory, surpassing 10 trillion yuan by 2013. As e-commerce becomes more integrated into daily life, industries like hardware tools are beginning to explore digital opportunities.
For the hardware and tool industry, e-commerce offers more than just convenience—it breaks down geographical and time barriers, creating new trading opportunities. In the online space, quality and service matter most, allowing companies to build their own brands. As the e-commerce sector continues to evolve, it's clear that it will bring fresh momentum to the domestic hardware industry. The future looks promising, and we're excited to see what comes next.