Related News
Appliance retailers eye new incentives
By Lu Nengneng |
February 23, 2012, Thursday
|
Print Edition
Print Edition
SHANGHAI'S languid home appliance market hopes for new incentives to revive sales after China's old-for-new home appliance subsidy program expired at the end last year.
The industry's nationwide sales dropped 10 percent in January from a year earlier despite the Lunar New Year shopping spree, which helped raise the revenue of 3,000 major retailers by 12.7 percent, according to the latest data compiled by the Ministry of Commerce.
In Shanghai, the sales of air conditioners cooled 60 percent year on year last month while those of television sets, refrigerators and washing machines tumbled more than 50 percent, research firm China Market Monitor said yesterday.
The decline in overseas demand and tepid domestic consumption have worsened the inventory turnover of home appliance producers, especially air conditioner makers.
"Consumers are taking a wait-and-see stance as they hope for new subsidies as the market has become reliant on favorable policies to boost sales," said Fan Zhijun, general manager of Suning Appliance in Shanghai.
The industry's nationwide sales dropped 10 percent in January from a year earlier despite the Lunar New Year shopping spree, which helped raise the revenue of 3,000 major retailers by 12.7 percent, according to the latest data compiled by the Ministry of Commerce.
In Shanghai, the sales of air conditioners cooled 60 percent year on year last month while those of television sets, refrigerators and washing machines tumbled more than 50 percent, research firm China Market Monitor said yesterday.
The decline in overseas demand and tepid domestic consumption have worsened the inventory turnover of home appliance producers, especially air conditioner makers.
"Consumers are taking a wait-and-see stance as they hope for new subsidies as the market has become reliant on favorable policies to boost sales," said Fan Zhijun, general manager of Suning Appliance in Shanghai.
- About Us
- |
- Terms of Use
- |
-
RSS - |
- Privacy Policy
- |
- Contact Us
- |
- Shanghai Call Center: 962288
- |
- Tip-off hotline: 52920043
- 沪ICP证：沪ICP备05050403号-1
- |
- 互联网新闻信息服务许可证：31120180004
- |
- 网络视听许可证：0909346
- |
- 广播电视节目制作许可证：沪字第354号
- |
- 增值电信业务经营许可证：沪B2-20120012
Copyright © 1999- Shanghai Daily. All rights reserved.Preferably viewed with Internet Explorer 8 or newer browsers.
