According to data from the Ministry of Commerce, since this year, China's consumer goods trade-in policy has had remarkable results. Over 66 million consumers have purchased over 109 million trade-in products of 12 categories of household appliances. Yan Zhengkun, head of the Suning Tesco Store Management Center, revealed that in the first half of this year, trade-in orders for home appliances through the Suning Tesco channel increased 81% year on year, and sales of high-end home appliances over 8,000 yuan increased 96% year on year. One and two energy efficiency household appliances account for more than 90% of sales, of which first-class energy efficiency products account for 73.8%. On the 3C side, sales of mobile phones, laptops, and smartwatches increased by 47.4%, 170.2%, and 99.3% year-on-year. Among them, the county home appliance market accelerated upgrading, with sales of grade 1 and 2 energy efficiency household appliances accounting for 86.9%, and level 1 energy efficiency accounting for 71.4%. “High-capacity, large-size” household appliances became the mainstream of consumption. Sales of high-capacity washing machines over 10 kg increased by 51%, sales of large-screen televisions over 98 inches increased by 43% year on year, and sales of large-capacity refrigerators over 550L equipped with deodorizing and sterilization functions increased 89% year over year. Yan Zhengkun mentioned that in this wave of modernization, consumer demand is showing a clear trend of upgrading, which is far more than simply replacing old products. “On the one hand, consumers have higher requirements for the core quality and cutting-edge functions of products, and AI intelligence, green energy efficiency, health and comfort, and design aesthetics have become key considerations in purchasing. On the other hand, consumer demand is shifting from buying a single product to seeking integrated and scenario-based solutions.”

According to data from the Ministry of Commerce, since this year, China's consumer goods trade-in policy has had remarkable results. Over 66 million consumers have purchased over 109 million trade-in products of 12 categories of household appliances. Yan Zhengkun, head of the Suning Tesco Store Management Center, revealed that in the first half of this year, trade-in orders for home appliances through the Suning Tesco channel increased 81% year on year, and sales of high-end home appliances over 8,000 yuan increased 96% year on year. One and two energy efficiency household appliances account for more than 90% of sales, of which first-class energy efficiency products account for 73.8%. On the 3C side, sales of mobile phones, laptops, and smartwatches increased by 47.4%, 170.2%, and 99.3% year-on-year. Among them, the county home appliance market accelerated upgrading, with sales of grade 1 and 2 energy efficiency household appliances accounting for 86.9%, and level 1 energy efficiency accounting for 71.4%. “High-capacity, large-size” household appliances became the mainstream of consumption. Sales of high-capacity washing machines over 10 kg increased by 51%, sales of large-screen televisions over 98 inches increased by 43% year on year, and sales of large-capacity refrigerators over 550L equipped with deodorizing and sterilization functions increased 89% year over year. Yan Zhengkun mentioned that in this wave of modernization, consumer demand is showing a clear trend of upgrading, which is far more than simply replacing old products. “On the one hand, consumers have higher requirements for the core quality and cutting-edge functions of products, and AI intelligence, green energy efficiency, health and comfort, and design aesthetics have become key considerations in purchasing. On the other hand, consumer demand is shifting from buying a single product to seeking integrated and scenario-based solutions.”