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Appliances discounted to boost demand
By Pan Xiaoyi |
March 13, 2009, Friday
|
Print Edition
Print Edition
RETAILERS and home appliances makers are issuing discount coupons to help boost demand.
The Suning Appliance Co, a leading retailer, yesterday announced it was issuing 7 million yuan (US$1.02 million) worth of discount coupons from today in Shanghai. The 100-yuan coupon will give you a discount of 100 yuan for purchases of more than 1,000 yuan.
"Coupons are sure to help the sales of home appliances," said Li Fuchun, secretary general of Shanghai Household Electric Appliance Profession Association. "The profit margins may drop a little but that can be compensated by greater sales volumes."
Chen Deming, the minister of commerce, has said issuing coupons is a positive step in addressing slowing demand.
Suning said it will issue 2 million yuan of coupons from today and will offer a second batch of coupons next month. "Considering the decreasing raw material price and weak consumer sentiment, lower prices is the best way to stimulate the demands," said Ling Guosheng, Suning's group vice-president.
Suning will also discount products by as much as 40 percent in March and April, normally a peak sales period.
Last Saturday the Shanghai Commercial Trade Association of Household Electric and Electronic Appliances said it would offer 13.5 million yuan worth of coupons through Gome and Yongle stores.
The association's coupons can be used to buy kitchen equipment and water heaters for about a month. The association is also planning to issue coupons for buying air-conditioners.
The Suning Appliance Co, a leading retailer, yesterday announced it was issuing 7 million yuan (US$1.02 million) worth of discount coupons from today in Shanghai. The 100-yuan coupon will give you a discount of 100 yuan for purchases of more than 1,000 yuan.
"Coupons are sure to help the sales of home appliances," said Li Fuchun, secretary general of Shanghai Household Electric Appliance Profession Association. "The profit margins may drop a little but that can be compensated by greater sales volumes."
Chen Deming, the minister of commerce, has said issuing coupons is a positive step in addressing slowing demand.
Suning said it will issue 2 million yuan of coupons from today and will offer a second batch of coupons next month. "Considering the decreasing raw material price and weak consumer sentiment, lower prices is the best way to stimulate the demands," said Ling Guosheng, Suning's group vice-president.
Suning will also discount products by as much as 40 percent in March and April, normally a peak sales period.
Last Saturday the Shanghai Commercial Trade Association of Household Electric and Electronic Appliances said it would offer 13.5 million yuan worth of coupons through Gome and Yongle stores.
The association's coupons can be used to buy kitchen equipment and water heaters for about a month. The association is also planning to issue coupons for buying air-conditioners.
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