The big distributor once invested 5 million! It has annual sales of over 100 million with small single products

"Technology changes life" is now gradually becoming a reality.

You can let the rice cooker at home cook rice while sitting in the office. When you get home, there will be hot water for taking a shower and the air conditioner will be at the right temperature. With one-touch control , you can quickly create a comfortable home environment.

Smart homes have developed from single-product intelligence to today's whole-house intelligence . A number of sellers have also moved from domestic to overseas and occupied a large share of this market segment.

Single product sales reach $1 million

When reviewing the trends of home furnishing brands going overseas in recent years, Yien.com noticed a brand that it had never paid attention to before - Meross. It thought it was a brand that had just been established or just starting to gain momentum, but this was not the case.

Meross is listed in the monthly or semi-annual "China Cross-border E-commerce Brand Influence List" released by the National Business Daily and Yishi Technology , and it also appears on other overseas lists.

Meross has successfully entered the overseas market, focusing on smart home gadgets such as smart sockets, smart lighting , smart temperature control and smart switches .

The Amazon search page shows that Meross has set up a flagship store on this leading platform. One of its brand's smart garage door openers and remote controls is compatible with Apple, Amazon, Google and other systems and is priced at only US$49.99. However, its sales in August exceeded 2,000 units, which means that the sales of this single product in August were close to US$100,000, which is equivalent to about RMB 710,000 based on the exchange rate before the holiday .

In addition, it can be seen from the listing that the above-mentioned smart garage door opener remote control has received more than 5,000 reviews since it was put on the shelves, and is on the BS list in Amazon's " Garage Door Keypads & Remotes " category .

Data shows that from January to August 2024, Meross's smart garage door opener MSG100HK repeatedly appeared on Amazon's sub-category BS list, with total sales of up to US$1 million .

Not only the above-mentioned products, but also a smart mini plug under Meross priced at US$23.99 has accumulated nearly 11,000 reviews since its launch . In terms of functionality, the socket supports Wi-Fi connection, is compatible with Amazon, Google and other systems, and can be remotely controlled.

On Amazon, Meross's product series in multiple matrices are ranked on the BS list of subcategories, with most of them receiving over a thousand or even tens of thousands of reviews.

Although Meross does not have many categories of smart home products and its product prices are lower than those of smart security products, it has also established an independent website in order to become a truly mature overseas home brand.

According to Similarweb data, in August, Meross's official website, meross.com, had 333,200 visits, and the average monthly visits in the past three months (June-August) were 356,400. Although the number of visits to its independent website is far less than that of smart home giants such as TP-LINK , it is slowly increasing.

Online, Meross has entered mainstream platforms such as Amazon, eBay, and Walmart, and established independent websites for its own brands ; offline, Meross has also laid out corresponding marketing channels to provide scenario-based experiences.

The "Big Brother of Cross-border Business" has provided 5 million angel round investment

The sales of a single product reached 1 million US dollars in 8 months, and the company behind Meross is also intriguing.

In 2016, Chengdu Meross Technology Co., Ltd. (hereinafter referred to as "Meross Technology") was established. Its founder Wang Yao was responsible for the international marketing business of TP-LINK for 9 years . It is worth noting that on the overseas official website of Meross, it is introduced that most of the founding team members of the company are from the Fortune 500 , including Microsoft , Cisco , MediaTek , TP - Link , Huawei , etc.

Such a founding team also laid a strong foundation for R&D and international market promotion for Meross' subsequent development.

With smart home gadgets as its matrix, Meross Technology targets overseas markets. It then launched the brand Meross and began to develop, produce and sell smart home security and energy-saving products .

In fact, smart home is already a fiercely competitive red ocean. Many overseas giants such as Anker have already made plans. How to grab a small piece of the "cake" in this fight ? Meross avoided larger home appliances and chose a series of products such as smart WIFI amplifiers and smart sockets.

This strategy is effective, and Meross's overseas performance is now booming.

In 2018, Mi Rui Technology's annual sales reached RMB 40 million, and it is expected to reach RMB 120 million in 2019 .

In 2021, data from Mirui Technology showed that the quarterly repurchase rate of Meross's old customers exceeded 30%, and the average order value was twice that of new users.

In the same year, its co-founder said in an interview with Red Star News, " In terms of product sales, we can rank among the top five or even the top three in the overseas market. From 2018 to 2020 , the annual sales have basically doubled or tripled. The company's sales have exceeded 100 million in just three years since its establishment. "

The favor and support of capital and the improvement of performance are complementary. According to Qichacha data, since its establishment in 2016, Mirui Technology has won four rounds of financing, with investors including Yuanjing Capital and Dingxiang Capital. In the angel round of financing, it even received a 5 million yuan investment from the former "cross-border leader" Kuaishou .

Judging from the disclosed amounts, in four rounds of financing, Mirui Technology has received no less than 15 million yuan in investment.

With the help of capital, Meross Technology has invested more. Meross's products are one of the few in the world that can support seven major mainstream platforms such as Apple, Google, and Amazon at the same time . They can also adapt to different usage scenarios and have a variety of control methods .

Precisely because of this, it is deeply recognized by users. Data shows that in 2023, Meross's shipments in the North American market will reach 1.5 million units. As of now , its global shipments have exceeded 7 million units . It has more than 3 million global consumers , and its products are exported to 137 countries and regions around the world.

In conclusion:

Whether it is whole-house customization or single small accessories, smart home products have become the basis or even standard for home decoration for more and more consumers. Smart toilets, smart door locks, smart cameras, smart beds, smart kitchen appliances, etc. It can be clearly felt that the consumer demand for these products is getting higher and higher at home and abroad.

Shoptop's report shows that the global smart home market revenue is expected to grow at a rate of 60% in the next four years and reach US $222.9 billion in 2027.

Taking the smart socket involved in the above-mentioned Meross as an example, in 2023, Amazon's Amazon Smart Plug shipments reached 6 million units , becoming one of the best-selling smart sockets ; TP-LINK 's brand KASA shipments reached 5 million units in the North American market , firmly ranking at the forefront of the smart socket market .

Looking at the broader smart home accessories market, TP-LINK 's brand Tapo covers smart sockets, smart lighting , etc. , with shipments reaching 3 million units in 2023 ; Govee's shipments in the North American market reached 1 million units in 2023 .

In the smart home field, not only emerging brands are venturing into the market, but also traditional home appliance giants such as Haier and Gree are making efforts. Even Internet technology giants such as Baidu and Alibaba, as well as 3C giants such as Huawei and Xiaomi are eyeing it .

In the future, we will see who will dominate the ups and downs of this sea area ...

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