Trade-ins activate consumer market of Ningbo
- Details
- Category: Ningbo News
- Published: Wednesday, 07 August 2024 16:01
Recently, the “Implementation Plan for Promoting Large-scale Equipment Renewal and Consumer Goods Trade-in in Ningbo” was officially released, which is sure to activate the consumer market of the city.
Active market for home appliances
In this round of “trade-in” craze, Ningbo citizens have aspired for newer and larger home appliances, and thus the home appliance consumption has become very active.
“This refrigerator is said to have its own intelligent cloud fresh-keeping database, which can intelligently match the freezing point temperature required by certain food, and can also quickly disinfection and sterilization viruses and bacteria on the food surface. It is very suitable for a family of three children like us.” said a Ms. Chen, who bought an ultra-thin embedded refrigerator at Ningbo JD Mall. “Our old refrigerator at home has a relatively small capacity and only regular functions. I have always wanted to replace it with a larger capacity and more user-friendly functions. This refrigerator was originally priced at 8499 yuan, but now it has a trade-in subsidy and combined with other discounts, the final purchase price is only 6749 yuan. It is very cost-effective.”
This is just a common case. Since the launch of the trade-in subsidy, the consumption of household appliances in Ningbo has been active. According to data from Ningbo Suning.com, its sales have increased by over 120% month on month over the past month. In terms of the price level, the preferred price range is concentrated in the “ten thousand yuan level”. In terms of category, sales of air conditioners, dishwashers, and range hoods have seen particularly significant growth, with month on month increases of 208%, 54%, and 65%, respectively. In addition, the sales of washing machines increased by 25% month on month, refrigerators increased by 37%, and color TVs increased by 28%.
Stimulated by the “trade-in” policy, Ningbo citizens are more willing to buy more expensive items, and even many people buy the whole set of household appliances.
According to the back-end data of Ningbo JD Mall, over the past month, the sales of large electronic appliances have exceeded 25 million yuan. Taking the refrigerator. The large-capacity refrigerators priced between 8,000 yuan and 10,000 yuan are the best sellers. The other popular products include the large screen TVs priced around 10,000 yuan and the fresh air conditioners priced around 5,000 yuan.
Recovering auto market
Following the release of the “Implementation Rules for Automobile Trade-in Subsidies” jointly by seven ministries or departments including the Ministry of Commerce and the Ministry of Finance, Ningbo issued the “Implementation Plan for Promoting Large-scale Equipment Renewal and Consumer Goods Trade-in in Ningbo” in June this year, including 44 key measures. It is expected that the cumulative number of trade-in vehicles in Ningbo will reach 200,000 by 2027.
The driving effect of policies on automobile consumption has become apparent. According to Ningbo Municipal Bureau of Commerce, as of July 12, among the received 13,611 applications for the renewal subsidy for scrapped cars, 4,311 applications have been accepted, and 1,473 have been reviewed, all ranking first in the province.
A visit of auto companies in Ningbo shows that the consumer sentiment in the automotive market has been significantly boosted. On the afternoon of July 15, at the Huawei store located at Century Oriental Plaza, although it was a working day, customers came to inquire. According to data from the store, in June, the total order volume for all models of HarmonyOS increased by about 40% compared with in May.
It is worth mentioning that after the implementation of the new round of “trade-in” policy for automobiles, several car brands have successively announced their extra trade-in discounts in addition to the government subsidies
