Automobiles, home appliances record surge in sales
4 years, 8 months ago

Automobiles, home appliances record surge in sales

China Daily  

Employees work on assembly line during a construction completion event of SAIC Volkswagen MEB electric vehicle plant in Shanghai, Nov 8, 2019. China saw the sales of durable consumer goods including automobiles and home appliances notably rebound during the five-day May Day holiday, said a senior commerce official on Friday. Automobile sales of key companies monitored by the Ministry of Commerce in Shanghai, Chongqing and Zhejiang surged by 49.6 percent, 28.5 percent and 8.8 percent year-on-year, respectively, during the May Day holiday period, while the sales of home appliances on some e-commerce platforms doubled on a yearly basis, according to the ministry data. The epidemic has also spurred the growth of online consumption sectors such as fresh-food e-commerce, online education and tele-medical care service, Wang noted. To stabilize the country's consumption market, Wang said 28 provinces and municipalities have issued and dispensed more than 19 billion yuan of consumer vouchers since the outbreak.

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History of this topic

China reports surge in home appliance sales under trade-in program
3 months, 1 week ago

China reports surge in home appliance sales under trade-in program

China Daily  

A consumer learns about trade-in plans for home appliances at a store in Chongqing in July. SUN KAIFANG/FOR CHINA DAILY BEIJING - The ongoing trade-in program for home appliances has led to a surge in sales revenues which topped 33.5 billion yuan since August, the latest data from the Ministry of Commerce showed. MOC data showed that green and smart …

China reports surge in home appliance sales under trade-in program
3 months, 1 week ago

China reports surge in home appliance sales under trade-in program

China Daily  

A consumer learns about trade-in plans for home appliances at a store in Chongqing in July. SUN KAIFANG/FOR CHINA DAILY BEIJING - The ongoing trade-in program for home appliances has led to a surge in sales revenues which topped 33.5 billion yuan since August, the latest data from the Ministry of Commerce showed. MOC data showed that green and smart …

Trade-in consumer goods to bolster consumption
4 months, 1 week ago

Trade-in consumer goods to bolster consumption

China Daily  

Guo Meide, president of Beijing-based market consultancy All View Cloud or AVC. China Daily China's latest efforts to promote the trade-ins of consumer goods, especially within household appliances, will further stimulate consumer spending appetites and bolster consumption recovery, industry experts said. Guo Meide, president of Beijing-based market consultancy All View Cloud or AVC, said the latest policy measures to support …

Trade-in consumer goods to bolster consumption
4 months, 1 week ago

Trade-in consumer goods to bolster consumption

China Daily  

Guo Meide, president of Beijing-based market consultancy All View Cloud or AVC. China Daily China's latest efforts to promote the trade-ins of consumer goods, especially within household appliances, will further stimulate consumer spending appetites and bolster consumption recovery, industry experts said. Guo Meide, president of Beijing-based market consultancy All View Cloud or AVC, said the latest policy measures to support …

China's consumer goods trade-in program spurs car, home appliance sales
6 months, 2 weeks ago

China's consumer goods trade-in program spurs car, home appliance sales

China Daily  

Visitors watch a new energy vehicle equipped with Huawei's Qiankun system at the 2024 Beijing International Automotive Exhibition in Beijing, China, April 25, 2024. BEIJING -- A consumer goods trade-in program rolled out by the Chinese government in March has spurred rising sales of products such as cars, home appliances and furniture. In May, retail sales of cars exceeded 2.27 …

618 shopping gala stimulates consumption
6 months, 2 weeks ago

618 shopping gala stimulates consumption

China Daily  

Workers sort packages at a logistics center in Suqian, Jiangsu province, on June 14. "Consumption has become the main driving force boosting China's economic growth, and the June 18 shopping festival is pivotal to unleashing consumers' purchasing potential and promoting the recovery of the economy," said Wang Yun, a researcher at the Academy of Macroeconomic Research, which is affiliated with …

618 shopping gala stimulates consumption
6 months, 2 weeks ago

618 shopping gala stimulates consumption

China Daily  

Workers sort packages at a logistics center in Suqian, Jiangsu province, on June 14. "Consumption has become the main driving force boosting China's economic growth, and the June 18 shopping festival is pivotal to unleashing consumers' purchasing potential and promoting the recovery of the economy," said Wang Yun, a researcher at the Academy of Macroeconomic Research, which is affiliated with …

Shopping carnival features shift in demand
6 months, 3 weeks ago

Shopping carnival features shift in demand

China Daily  

A staff member collects goods at a JD bonded warehouse in Wenzhou, Zhejiang province, on Tuesday, during this year's June 18 shopping carnival. LIU JILI/FOR CHINA DAILY Chinese consumers have shown rising demand for homegrown products and intelligent electronic devices featuring innovative technologies during this year's June 18 shopping carnival, which experts said has played a vital role in stimulating …

China pledges measures to boost domestic consumption in 2024
11 months ago

China pledges measures to boost domestic consumption in 2024

China Daily  

Civilians are getting to know more details about the vehicle at a showroom in Fuzhou of East China's Fujian province, on Jan 11. BEIJING - China will introduce a raft of measures, such as stimulating purchases of vehicles and household appliances, to boost consumption this year, a commerce ministry official said Tuesday. "Automobiles, household appliances and home furnishing are the …

Boosting consumption seen as key to reviving economy
1 year, 4 months ago

Boosting consumption seen as key to reviving economy

China Daily  

Visitors check out new energy vehicles during an event in Zibo, Shandong province, in August. Despite the continued recovery trend, consumption lacks momentum amid slowing personal income growth, the upgrade of the consumption structure and adjustments in specific sectors, said Hong Yong, an associate research fellow at the Chinese Academy of International Trade and Economic Cooperation's e-commerce research institute. Policymakers …

China struggles with weak post-COVID economic recovery
1 year, 6 months ago

China struggles with weak post-COVID economic recovery

The Independent  

For free real time breaking news alerts sent straight to your inbox sign up to our breaking news emails Sign up to our free breaking news emails Sign up to our free breaking news emails SIGN UP I would like to be emailed about offers, events and updates from The Independent. Read our privacy policy Sales of Yizhuan Automobile Co.’s …

Green consumption growth takes root
2 years, 5 months ago

Green consumption growth takes root

China Daily  

Customers select electrical products at a store in Yuncheng, Shanxi province. Stimulus package, anti-COVID-19 measures tipped to fuel sales China's latest efforts to boost sales of automobiles, home appliances and other big-ticket items are expected to stimulate consumers' appetites, spur a consumption recovery amid the pandemic, and stabilize economic growth. Last month, the Ministry of Industry and Information Technology and …

Global firms warn of sluggish China demand due on lengthy COVID curbs
2 years, 7 months ago

Global firms warn of sluggish China demand due on lengthy COVID curbs

The Hindu  

Two months into harsh COVID-19 lockdowns that have choked global supply chains, China's economy is staggering back to its feet, but businesses from retailers to chipmakers are warning of slow sales as consumers in the country slam the brakes on spending. has implications to both supply and demand," said Colette Kress, chief financial officer at U.S. chipmaker Nvidia, which forecast …

Chinese retail complex giant sees booming sales during National Day holiday
4 years, 2 months ago

Chinese retail complex giant sees booming sales during National Day holiday

China Daily  

A customer walks into a Wanda Cinema in Changzhou, Jiangsu province. BEIJING - Chinese retail complex giant Wanda Plaza reported booming traffic and sales during the just-concluded National Day holiday as pent-up consumption steam unleashes with anti-COVID-19 measures in place. The vast retail complex network with Chinese conglomerate Wanda Group said visitor traffic edged up 3.8 percent year-on-year from Oct …

China factory output flat, retail sales slip in July
4 years, 4 months ago

China factory output flat, retail sales slip in July

Associated Press  

BEIJING — China’s factory output rose just under 5% last month from a year earlier while retail sales fell slightly, suggesting the country’s recovery from the coronavirus pandemic remains muted. Such “idiosyncrasies” don’t fully account for the prolonged weakness in consumer spending, said Stephen Innes of AxiCorp. “Still, the glaring concerns around retail demand continue to speak volumes that it’s …

Shoppers are holding back despite economy reopening
4 years, 6 months ago

Shoppers are holding back despite economy reopening

Live Mint  

Businesses in India from car dealers to clothing retail chains are ready for customers as the economy reopens, but shoppers are holding back. “While the supply situation seems to be nearly normal, so far, purchases are need-based,” analysts at Mumbai-based Anand Rathi Shares and Stock Brokers Ltd. wrote in a note to clients, after speaking to more than 200 distributors, …

India gears up for the new normal as consumer behaviour shifts
4 years, 7 months ago

India gears up for the new normal as consumer behaviour shifts

Live Mint  

On 24 March, the government effectuated one of the world’s strictest lockdowns to combat the spread of covid-19, which changed consumer behaviour and purchasing patterns. According to a World Economic Forum and Bain & Co. report, titled Future of Consumption in Fast-Growth Consumer Markets – India, released in January 2019, about 66% of India’s overall consumption is accounted for by …

Online sales explode but markets for holidays and high fashion collapse
4 years, 8 months ago

Online sales explode but markets for holidays and high fashion collapse

Dutch News  

Online shopping has exploded since the corona crisis but shops selling holidays and luxury goods have seen a huge drop in revenue, new figures show. ‘Before coronavirus many online shops saw growth of 16% to 18%, now it’s 60% to 70%,’ Wijnand Jongen, director of Thuiswinkel.org, told broadcaster NOS. ‘Some online shops can’t source the stuff quickly enough,’ Jongen said. …

Economy pickup can be consolidated: China Daily editorial
4 years, 8 months ago

Economy pickup can be consolidated: China Daily editorial

China Daily  

An employee works on the production line of a new material manufacturing plant in Baotou, the Inner Mongolia autonomous region, on Thursday. With its economy contracting 6.8 percent year-over-year in the first quarter due to the large-scale shutdowns and quarantines implemented to curb transmission of the novel coronavirus, China urgently needs to sustain its third month upturn in the second …

Economy pickup can be consolidated: China Daily editorial
4 years, 8 months ago

Economy pickup can be consolidated: China Daily editorial

China Daily  

An employee works on the production line of a new material manufacturing plant in Baotou, the Inner Mongolia autonomous region, on Thursday. With its economy contracting 6.8 percent year-over-year in the first quarter due to the large-scale shutdowns and quarantines implemented to curb transmission of the novel coronavirus, China urgently needs to sustain its third month upturn in the second …

China tries to revive coronavirus-stricken economy, but consumers remain wary
4 years, 8 months ago

China tries to revive coronavirus-stricken economy, but consumers remain wary

LA Times  

Chinese leaders have reopened factories and shops in an effort to revive the economy, but shoppers have been slow to return to malls and car dealerships. China, where the COVID-19 pandemic started in December, is cautiously trying to get back to business, but it’s not easy when many millions of workers are wary of spending much or even going out. …

Coronavirus sees retail sales rise in February as Australians stockpiled groceries and pharmaceuticals but clothing sales fell
4 years, 9 months ago

Coronavirus sees retail sales rise in February as Australians stockpiled groceries and pharmaceuticals but clothing sales fell

ABC  

Retail sales rose in February but the devil was in the detail, with the impact of the coronavirus pandemic already evident, and economists warning that a short-term boost from panic buying and stockpiling will not last. Key points: The ABS says retail turnover rose 0.5 per cent in February Supermarket and grocery store sales rose 1.1 per cent and department …

'Home economy' sees growth from outbreak
4 years, 9 months ago

'Home economy' sees growth from outbreak

China Daily  

A yoga teacher gives lessons via a livestreaming platform in Guangzhou, capital of Guangdong province, on Feb 7. The "homebody economy" reached a wider population across the country, as a growing number of people shopped, studied, worked and amused themselves online at home during the novel coronavirus epidemic. The global measurement and data analytics company Nielsen on Thursday released a …

Outbreak brings challenges, offers future opportunities to retail sector: Survey
4 years, 10 months ago

Outbreak brings challenges, offers future opportunities to retail sector: Survey

China Daily  

A consumer buys vegetables at a grocery store in Zhengzhou, capital of Henan province, on Feb 6. The outbreak of the novel coronavirus epidemic though weighing down China's retail industry, especially brick-and-mortar retailers, also brings new opportunities to the sector, a report by the global measurement and data analytics company Nielsen showed on Thursday. Nielsen compiled research covering key retail …

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