Xinhua News Agency, Beijing, May 2 (Reporter Zhang Xinxin) The China Electronics and Information Industry Development Research Institute recently released the "Report on China's Home Appliance Market in the First Quarter of 2020", showing that in the first quarter, the overall retail scale of China's home appliance market reached 120.4 billion yuan, compared with Significant decline, but the contribution rate of e-commerce channels to home appliance retailing exceeds 50%, and the role of online retailing in promoting home appliance consumption is further enhanced.
According to the report, in the first quarter, the retail sales of home appliances and installed appliances fell more seriously. The sales of high-end appliances and small appliances with subdivision functions increased steadily, and the sales of small kitchen appliances increased. Home appliance companies are actively shifting to online sales channels and product layouts, and online retail sales have further expanded their share of total home appliance market retail sales.
The report predicts that with the gradual restoration of the economic and social order, the home appliance market environment will improve overall. In the future, new consumption models that integrate online and offline will become mainstream.