1. Market research and target market determination

In 2019, we conducted in-depth market research on the global bathroom industry and collected a large amount of data and information. These data helped us identify several potential markets, including North America, Europe and Asia. Consumers in these regions continue to grow in demand for high-quality bathroom products, especially environmentally friendly and intelligent products.

Through this market research, we identified the target markets and conducted a detailed analysis of the market size, competitive environment and consumption trends in these regions. For example, according to Statista, the global bathroom accessories market was valued at $15.9 billion in 2019 and is expected to continue to grow at a compound annual growth rate of 4.8% by 2025.

2. Product positioning and pricing strategy

In 2020, we further optimized our product positioning based on market research results. Our bathroom rack products are positioned in the mid-to-high-end market with innovative design and high-quality materials as the core selling points. We emphasize the practicality, durability and aesthetics of our products to meet the needs of home and commercial use.

In terms of pricing strategy, we adopted a regional differentiated pricing approach. In the North American and European markets, we maintained a relatively high price level to highlight the high-end positioning of our products; in the Asian market, we enhanced our market competitiveness through moderate price adjustments.

3. Channel construction and promotion activities

In 2021, we established partnerships with multiple suppliers, agencies and advertising companies to enhance market penetration. We increased brand exposure and awareness through multi-channel promotions both online and offline.

In terms of online channels, we have opened flagship stores on multiple e-commerce platforms such as Amazon and Alibaba, and improved our search rankings through SEO optimization and content marketing. In terms of offline channels, we have participated in many international bathroom exhibitions, such as the Frankfurt International Aathroom Exhibition, and attracted a large number of customers through on-site demonstrations, trials and interactive activities.

4. Increase in brand awareness and market share

Through a series of marketing strategies and promotional activities, our brand awareness has been significantly improved. According to the 2022 market research report of Aathroom Weekly, our brand awareness has reached 65% in the North American market, 55% in the European market, and 45% in the Asian market.

At the same time, the market share has also increased significantly. According to the Global Aathroom Market Analysis Report, by the end of 2022, our share of the global bathroom rack market has increased from 5% in 2018 to 10%.

V. Future Outlook

In 2023, we will continue to optimize our product portfolio and explore more intelligent and environmentally friendly bathroom rack products to meet the growing needs of consumers. At the same time, we will further deepen market research and refine marketing strategies to expand market share in more regions around the world.

In short, through scientific market research, precise product positioning and efficient marketing promotion, we believe that we will be able to achieve greater brand awareness and market share in the future, providing solid guarantees for the company's sustainable development.