Suning.com releases sales data for the first half of the year, with a year-on-year increase of 81% in old-for-new sales.

According to the data from the Ministry of Commerce, the policy of trading in old for new consumer goods in China has shown significant results this year. Over 66 million consumers have purchased over 1.09 billion units of 12 categories of home appliances in exchange for old products. Yan Zhengkun, head of the store management center at Suning.com, revealed that in the first half of this year, Suning.com's channel for trading in old for new home appliances saw an 81% year-on-year growth in orders, while sales of high-end home appliances above 8000 yuan increased by 96%. Energy-efficient home appliance products accounted for over 90% of sales, with level one energy-efficient products accounting for 73.8%. In the 3C sector, sales of mobile phones, laptops, and smart watches increased by 47.4%, 170.2%, and 99.3% respectively year-on-year. In the county-level home appliance market, the sales share of level one and two energy-efficient home appliances reached 86.9%, with level one energy-efficient products accounting for 71.4%. "Large capacity, large size" home appliances have become the mainstream consumer choice, with sales of washing machines with a capacity of over 10 kilograms increasing by 51%, sales of TVs larger than 98 inches increasing by 43% year-on-year, and sales of refrigerators with a capacity of over 550 liters and equipped with deodorization and antibacterial functions increasing by 89%. Yan Zhengkun mentioned that in this wave of renewal, consumer demand is showing a clear trend towards upgrading, which goes beyond simply replacing old products. "On one hand, consumers have higher requirements for the core quality and cutting-edge functions of products, with AI intelligence, green energy efficiency, health and comfort, and aesthetic design becoming key considerations in purchasing. On the other hand, consumer demand is shifting from buying individual products to seeking comprehensive, scenario-based solutions."