many places include old-for-new subsidies in dishwashers, the industry says it will boost sales growth
2024-09-23
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chinanews.com, september 21 (chinanews.com finance zuo yuqing) "at present, with the advancement of the country's old-for-new policy, dishwashers have been shortlisted for subsidy lists in many places, and real cash subsidies are expected to boost the growth rate of domestic sales of dishwashers in the fourth quarter." on the 19th, at the 2024 china dishwasher industry summit forum guided by the china household electrical appliances association and hosted by china home appliance network, shi ting, head of gfk's small kitchen business in china's home appliance division, said.
on the 19th, the "2024 china dishwasher industry summit forum" was held in beijing under the guidance of the china household electrical appliances association and hosted by china home appliance network. photo provided.
according to shi ting, as the fastest growing category in china's home appliance industry in the past decade, it took about 15 years for the retail sales of dishwashers to grow from 200 million yuan to over 10 billion yuan. from 2014 to date, the compound growth rate of domestic dishwashers has reached 38%, far higher than the global growth rate of about 6%, reflecting stronger growth and vitality than overseas markets.
however, in the past two years, the growth of the dishwasher industry, which was originally in the incremental market, has declined. market monitoring shows that in the first half of this year, the domestic dishwasher retail sales volume increased by 4.6% year-on-year, and the retail volume increased by 3.5% year-on-year. although it maintained growth, the growth rate has slowed down significantly.
lv shenghua, deputy secretary-general of the china household electrical appliances association, pointed out that at present, factors such as the real estate market adjustment and changes in residents' consumption willingness have constrained the rapid growth of the domestic dishwasher market. however, as an emerging category, dishwashers can still continue to expand their growth space through proactive actions by enterprises and industries. for example, by taking advantage of the national policy of replacing old with new, the sales of dishwashers in the existing housing market can be promoted; the awareness of dishwasher consumption can be promoted; and good products can be made to cultivate more seed users.
"global and chinese dishwasher market development trends in 2024" shows that in july 2024, the policy of replacing old home appliances with new ones will be strengthened again, and local governments will independently determine the subsidies for "8+n" types of home appliances, including dishwashers.
"the prospects for the dishwasher industry are still promising. dishwashers are a necessity and can free your hands. they are very similar to washing machines. they may be the last large appliance for chinese families. they are a very important category that can bring incremental growth to the industry," said lv shenghua. (end)
