Amazon's annual gross profit is 1.9 billion US dollars, and its small appliances sales are growing against the trend!

Speaking of JS Global Life, many sellers may feel unfamiliar, but speaking of Morning North Technology, sellers must be very familiar with it. At the end of 2020, when Vesync, the parent company of Shenzhen small home appliance seller Morning North Technology, was listed on the Hong Kong Stock Exchange, many people speculated that it would be the next JS Global Life.

As we all know, the epidemic has greatly stimulated the purchase of small household appliances, and JS Global Life has naturally benefited from it. Recently, JS Global Life released its 2021 full-year performance report, with very strong growth in both revenue and net profit. We know that due to pressure from logistics, platform policies and other aspects, the performance of many sellers last year was not very ideal. Now it can be said that JS Global Life has handed in a performance report that goes against the trend.

Earned $1.9 billion in one year, making a fortune from the huge sales

The 2021 performance report shows that JS Global Lifestyle's total revenue was US$5.151 billion, a year-on-year increase of 22.8%; gross profit was US$1.924 billion, a year-on-year increase of 10.4%; and adjusted net profit was approximately US$502 million, a year-on-year increase of 19.8%.

On March 23, 2022, the Office of the United States Trade Representative announced that it would restore the tariff exemption until December 31, 2022, and retroactively to October 12, 2021. According to the preliminary assessment of JS Global Lifestyle management, the exemption covers most of its vacuum cleaners, air purifiers and air fryers imported from China to the United States. It can be seen that JS Global Lifestyle's gross profit is far more than 19.24.

The performance report shows that Shark is still the number one vacuum cleaner brand in the United States, while Ninja continues to maintain its position as the number one kitchen appliance brand in the United States. In addition, in the United States, the market share of all categories operated by JS Global Lifestyle has increased. Among them, the market share of cleaning appliances, cooking appliances and food preparation appliances in the United States increased from 28.1%, 22.6% and 28.6% to 30.9%1, 27.4%2 and 33.1% respectively.

As for the reason for the continued expansion of market share in the United States, JS Global Lifestyle did not shy away from pointing out that it was because they had put a lot of effort into new product promotion, including the introduction of new categories and product iterations.

The performance report shows that JS Global Lifestyle launched 9 new categories in 2021, allowing it to win market share in these new categories. These new categories include:

1. Shark Air Purifier 4 and 6 , which deliver air silently through 4 or 6 powerful fans, track air quality and automatically adjust power to keep the air clean at all times. Air purifier is a new product category launched by SharkNinja in the first half of 2021.

2. Shark HyperAIR quick-drying hair dryer . This is JS Global Lifestyle’s first foray into the personal care category. Its high-quality air power and new-generation intelligence provide a simple and healthy hair care experience.

3. Ninja CREAMi , which uses everyday ingredients to make ice cream, smoothie bowls, milkshakes, etc. This is JS Global Life's first entry into the ice cream making category.

4. The Ninja professional cold-pressed juicer , developed in collaboration with Joyoung , enables you to make nutritious juices and healthy drinks at home.

5. Ninja Foodi NeverDull advanced knife system provides consumers with advanced knives that remain sharp for a long time.

6. Ninja precision temperature electric kettle allows consumers to brew every cup of tea or coffee at the perfect temperature.

7. Ninja Foodi 2-in-1 flip-top toaster combines the functions of a toaster and an oven in a compact space.

8. Ninja DualBrew Pro specialty coffee system integrates K-Cup coffee capsule function into the Ninja coffee product line for the first time.

9. Shark Vertex Barrel Vacuum with DuoClean PowerFins Technology combines Shark's powerful suction and advanced cleaning technology into a compact barrel vacuum cleaner.

Meanwhile, the innovative new products launched by JS Global Lifestyle in 2020 under existing and new product categories also contributed to the growth in 2021. For example, the Shark Vacuum Mop (a cordless vacuum cleaner with powerful suction to suck away dry garbage and large steam jet technology to wash out sticky materials stuck in the gaps, and no need to change the mop) and the Shark Smart Vacuum Mop. Also included are the Ninja Foodi Powerful Wall Processor (intelligent torque gives variable speed adjustment function, which can stir and penetrate at any speed and never lose balance), the super-large capacity Ninja Foodi Smart XL 6-in-1 Indoor Grill with innovative smart cooking system, the Ninja Foodi 10-in-1 XL Professional Air Fryer and the new series of Ninja Foodi NeverStick cookware. All of these new products are based on the Ninja Foodi product portfolio successfully launched by JS Global Lifestyle in 2018 and 2019.

Sellers all know the importance of advertising in the process of launching new products. JS Global Life is also willing to invest in advertising to give new products ample display opportunities. The performance report shows that in 2021, it invested $317 million in advertising, $35 million more than the previous year. And JS Global Life said that they continue to make extensive use of their insights into consumers to verify that the products they launch will resonate with consumers, create surprises, and achieve the declarations made in their advertisements.

Not only in the United States, the Shark and Ninja brands also performed well in Europe, and JS Global Living achieved significant growth in all major categories in the European market.

Overseas revenue accounts for more than 70%, and the two major brands are selling well in Europe and the United States

Although the Joyoung brand is well-known in the domestic market, JS Global Lifestyle's main revenue still comes from overseas. The performance report shows that the SharkNinja division's revenue was US$3.715 billion, up 35.9% year-on-year, accounting for 72.1% of JS Global Lifestyle's total revenue, while the Joyoung division's revenue was US$1.436 billion, accounting for only about 27.9% of the total revenue.

There are two main reasons for the growth in revenue of the overseas division. One is the continuous launch of new products and product iterations. The other is that the continued international expansion in Europe and other regions contributed significant growth in 2021, especially in Israel and Japan. JS Global Life launched a number of cleaning equipment designed specifically for the Japanese market, which are deeply loved by consumers.

The SharkNinja division mainly includes Shark and Ninja. In terms of specific brands, the Shark brand recorded revenue of US$2.013 billion, an increase of approximately 18.0% year-on-year, due to growth in the entire line of cleaning appliances, including corded vacuum cleaners, cordless vacuum cleaners, sweeping robots and floor cleaning products (including steam mops). Cordless vacuum cleaners achieved significant growth in all major regions, North America, Europe and other markets including Japan. The success of sweeping robots was mainly driven by the strong acceptance of its high-end navigation sweeping robots by North American channels and consumers. The Ninja brand recorded revenue of US$1.723 billion, an increase of approximately 62.3% year-on-year, due to the expansion of North American product categories, the launch of new products and entry into new European markets. Specifically, newly launched products in the food preparation appliances and cooking appliances categories drove significant growth in 2021.

In terms of specific markets, during the reporting period, North America recorded a total revenue of approximately US$2.964 billion, a year-on-year increase of 34.1%. Europe recorded a total revenue of approximately US$617 million, a year-on-year increase of 36.7%. Other markets recorded a total revenue of approximately US$172 million, a year-on-year increase of 78.8%, mainly from the Japanese and Israeli markets.

It is worth mentioning that during the reporting period, the SharkNinja division recorded a gross profit of approximately US$1.487 billion, an increase of approximately 17.6% year-on-year.

According to the latest industry ranking data from F&S (Frost & Sullivan), JS Global Lifestyle's market share ranking in 2021 has risen from fifth to fourth, and its ranking in small household appliances remains third. Its market share has increased from 4.5% in its IPO and 7.3% in 2020 to 8.4%, achieving a three-step jump. JS Global Lifestyle will have great potential in the future.

JS Global Life

Small appliances