As the country looks forward to 2H2020, signs of recovery are blossoming in some areas. With the implementation of policies such as consumption upgrades, the market size of the home appliance industry is expected to be the same as last year.
According to the 'Report on China's Household Appliances Market in 1H2020' released by the CCID Group, retail sales in China's household appliances market reached CNY 369 billion in 1H2020, down 14.13% YoY.
With the epidemic under control and the effect of various consumption promotion policies taking hold, the sales volume saw CNY 248.6 billion in 2Q2020, twice that of the first quarter and a YoY increase of 2.64%.
Online channels have played a vital role in the rapid recovery of the home appliance market. In 1H2020, online sales recorded CNY 191.3 billion, an increase of 7.23% YoY, accounting for 51.84% of the total sales of home appliances.
The sales of products with the primary function of sterilization and disinfection, such as disinfection cabinets, terminal water purification equipment, dishwashers and mite removal devices, have increased significantly.
In the first half of 2020, the household appliance industry embraced livestreaming, with more than one million live broadcasts, and the transaction value reached over CNY 100 billion. In the second quarter, the conversion rate of the live show was further improved, and the average output was four times that of the first quarter.