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from september 6 to 17, the city's car replacement subsidy amounted to 63.5 million yuan. the picture shows citizens choosing new cars. photo by shenzhen special zone daily reporter zhou hongsheng

shenzhen news network, september 19, 2024 (shenzhen special zone daily reporter wu yanan) during the mid-autumn festival holiday, "old for new" swept the shenzhen consumer market. many citizens were busy buying home appliances in exchange for mobile phones, making appointments for test drives to see furniture, and making decoration plans. the customer flow and sales of major chain 3c home appliance stores, 4s stores, new energy offline experience stores, and home furnishing markets both saw a significant increase.

starting from september 6, shenzhen implemented a new round of more vigorous "trade-in" policy for consumer goods, covering eight major areas such as personal passenger cars, home appliances and home decoration, with a wider range of product selection and the highest subsidy ratio. after the policy was implemented, a consumption boom was set off from the home appliance and automobile market to the home decoration market, further stimulating consumption vitality and boosting market confidence. the latest data shows that from september 6 to 17, the city sold more than 79,000 home appliances, with a write-off amount of 58 million yuan, driving sales of about 420 million yuan; the number of applications for car replacement subsidies reached 4,700, with a subsidy amount of 63.5 million yuan and sales exceeding 1.28 billion yuan.

subsidies are strong, and citizens are busy replacing their cars

during the mid-autumn festival holiday that just passed, the reporter visited several large home appliance stores in shenzhen, including jd.com, suning, and suning, and saw that various promotional signs about old-for-new exchanges could be seen everywhere in the major stores, such as "shenzhen will increase support for home appliance trade-in purchase subsidies in 2024" and "subsidies are up to 10%-20%, and the upper limit for a single product is 1,000-2,000 yuan." the stores were crowded with people, and sales were booming.

"i saved more than 1,800 yuan. the government subsidy this time is very large. buying a computer is equivalent to a 20% discount, and you can enjoy it immediately after purchase. the benefits are obvious." in the computer sales area of ​​suning (yifangcheng shopping center), ms. luo, a citizen, selected a laptop computer with an original price of more than 9,000 yuan. with the assistance of the staff, she "smoothly" received the purchase subsidy coupon and paid the bill. while showing the reporter the record of the instant payment discount, she happily said, "i have always wanted to buy a computer for my daughter who studies design. i had chosen this computer earlier, but the configuration is relatively high and far exceeds the budget. i heard that the government has launched a home appliance purchase subsidy activity, so i took advantage of the holiday to buy it."

as the main promotion commodities of the new round of "trade-in", consumer electronics and home appliances are closer to people's lives and have received the most enthusiastic market response. the customer flow and sales of major 3c home appliance stores, brand mobile phone authorized stores, and home appliance stores have increased "suddenly", especially during the mid-autumn festival holiday that just passed. the policy has a very significant driving effect. the latest data shows that during the mid-autumn festival holiday, the average number of consumers who purchased home appliances through the old-for-new policy in the city reached 30,000 per day, with sales of nearly 200 million yuan, and the average daily sales increased by 1.2 times compared with the average of the 8 days before the holiday.

the reporter noticed that compared with the first round of "old for new" policy launched in may this year, shenzhen's new round of "old for new" policy has been strengthened, mostly raising the subsidy standard, expanding the scope of product category support, and adjusting and optimizing the participation details. taking home appliances as an example, not only is the subsidy ratio as high as 20%, but there are also 17 product categories, covering computers, mobile phones, air conditioners, smart wearables, consumer drones, etc., which can be said to be the most powerful and widest subsidy activity in recent years.

"the new round of shenzhen home appliance trade-in policy has significantly boosted sales of retail enterprises, allowing us to feel the vigorous vitality of shenzhen's consumer market and boosting confidence." peng jun, general manager of suning.com shenzhen, said that since the policy was implemented on september 6, shenzhen suning.com's overall sales have increased by 168%. during the mid-autumn festival holiday, the number of customers at shenzhen suning.com's offline stores increased many times, and computers, televisions, refrigerators, washing machines, air conditioners and other products all achieved significant growth compared with the previous month, among which computers increased by more than 300%.

with the support of the new policy, the shenzhen car market has also set off a wave of car viewing and test driving. during the mid-autumn festival holiday, new energy vehicle experience stores in many shopping malls in shenzhen welcomed a wave of customers who came to view and test drive cars. "during the car purchase process, customers are definitely very happy and welcome to learn that they can enjoy additional government subsidies. some customers who were originally hesitant to change cars will act quickly under the stimulation of the subsidy policy." xiao zhou, a salesman at a certain brand car experience store located in shenzhen industry city, has been "working non-stop" to receive customers in recent days. he told reporters that during the holiday, the store received nearly 60 test drive customers a day, and the average daily sales volume also increased. it is expected that by the end of september, the number of customers who order cars will reach a small peak.

government and enterprises tap potential, businesses are confident

for this "old for new" program, shenzhen has generously put out "real money" to support the "renewal" in eight major areas, including replacement and renewal of individual consumers' passenger cars, scrapping and renewal of cars, scrapping and renewal of old operating trucks, renewal of new energy buses and power batteries, trade-in of old home appliances, and transformation and renewal of home decoration products. among them, 1.1 billion yuan is used to support citizens in replacing new cars, 1.6 billion yuan is used to encourage trade-in of old home appliances, and the maximum subsidy for overall house decoration is 30,000 yuan. the policy is sincere in both strength and breadth.

with the policy increase, merchants are more motivated to participate. so far, 162 enterprises, 1,615 stores, and 2 online platforms in the city have participated in the "trade-in" of home appliances, and 564 auto dealers have participated in the "trade-in" of cars. major decoration companies and internet decoration platforms have studied the policy and provided more specific decoration guidance based on the specific needs of consumers.

"tubatu has set up a special user service team to provide one-stop consulting and guidance services to property owners. there are dedicated people to provide answers to various issues regarding subsidy policies and the operation process." the tubatu brand manager said that users can easily match with decoration companies participating in government subsidy activities through the tubatu platform and enjoy the dual benefits of professional decoration services and government subsidies.

taking advantage of the policy, major merchants and manufacturers have launched large-scale profit-sharing activities in order to expand sales. "on the basis of government subsidies, we have added an additional 10% suning subsidy + 10% factory subsidy + 5% for old machines (some categories). the four subsidies are combined with a maximum discount of 45%, forming a policy synergy with unprecedented strength, and "real money" promotes "replacement" consumption." peng jun said.

huang jun, executive vice president of the shenzhen retail association, said that shenzhen's implementation of a new round of home appliance trade-in subsidies is a timely relief for shenzhen's home appliance retail industry, and has a very obvious effect in stimulating and driving consumption. the timing of shenzhen's launch of this round of policies is very clever, less than a month after the end of the previous round of activities, which shows the government's determination to promote consumption, and it has once again boosted the confidence of merchants. at present, merchants are very enthusiastic about participating, and have launched various profit-sharing activities on the basis of government subsidies to jointly tap consumption potential and expand policy effects.

consumption upgrades, adding vitality to the economy

as a win-win consumption model, "trade-in" not only provides consumers with the benefits of upgrading consumer goods, but also injects new vitality into economic development. the reporter noticed that shenzhen's new round of "trade-in" not only increased the subsidy intensity, but also targeted consumer hotspots, including greener, more energy-saving, smarter and more high-end products in the subsidy scope, and the subsidy ratio is higher, promoting consumption quality upgrades.

in terms of subsidies for consumer electronics and home appliances, shenzhen's subsidy ratio for first-level energy-efficient home appliances is as high as 20%. based on consumption characteristics, shenzhen has added support for the trade-in of six types of products, including consumer drones, consumer robots, 3c servers, projectors, smart sports equipment, coffee machines, etc. these have been very popular among consumers and the market response has been enthusiastic.

the policy is in line with consumption trends, so sales naturally rise. "low energy consumption, high efficiency, high value for money, and smart fashion have also become the core factors that consumers pay attention to when buying home appliances. more than 90% of household users choose first-class energy-efficient products when replacing old ones with new ones. suning.com data shows that during the mid-autumn festival, sales of casarte refrigerators, colmo air conditioners, siemens washer-dryers, and hisense 85-inch+ large-screen tvs increased by 356%, 400%, 161%, and 899% year-on-year." peng jun revealed that in addition, as college students have become the main buyers, new digital products such as ai mobile phones and tablets have become a new trend and are popular among young consumer groups. the back-to-school season activities coincided with the new subsidy policy, and shenzhen suning.com doubled the sales of ai mobile phones and computers, and increased by 199.61%.

"shenzhen has launched a new round of old-for-new policy, which offers real money to encourage consumers to trade in old products for new ones. this not only brings real benefits to citizens, but also provides important support for the overall consumer market, boosts market confidence, stabilizes market expectations, and promotes economic growth." zheng tiancheng, deputy director of the enterprise and market research center of the china (shenzhen) institute for comprehensive development, said that the government's "generous" subsidies for consumers to buy greener and smarter products will not only promote consumption upgrades among the people and improve their quality of life, but will also drive the upgrading of the entire upstream and downstream industries, stimulate innovation on the production and manufacturing end, promote the upgrading of production equipment, and form a virtuous cycle of personal consumption and corporate investment.