At the China Home Appliances and Consumer Electronics Expo (AWE 2024) held from March 14th to 17th, JD.com partnered with Midea, Samsung, Hisense, Huadi, Little Swan, Linnei, and A O. Smith and about ten well-known domestic and foreign brands have launched multiple "lightning new products".
The head of JD Retail's Home Appliance and Home Furnishing Business Unit stated at this year's AWE Summit that JD will jointly invest 3 billion yuan with brand merchants in 2024, continuously increase subsidies for old for new home appliances and upgrade service experience, jointly leading the high-quality development of the home appliance industry and accelerating the construction of green supply chains.
Currently, China is in a peak period of household appliance scrapping, with 100 million to 120 million discarded appliances being phased out each year, with an average annual growth rate of 20%. According to the latest data from the Ministry of Commerce, as of 2023, the total number of major categories of household appliances such as refrigerators, washing machines, and air conditioners in China has exceeded 3 billion, demonstrating a huge demand and potential for updates and upgrades.
The above-mentioned person in charge of JD.com stated that with the gradual implementation of multiple policies, the home appliance industry is about to usher in huge market opportunities. A new turning point has arrived in the home appliance industry, and it is imperative to trade in old appliances for new ones.
It is expected that in 2024, the number of users participating in the exchange of old appliances and home furnishings on JD.com will exceed 20 million, and the number of old appliances and home furnishings recycled through exchange will exceed 30 million.
In addition, JD.com has teamed up with well-known domestic and foreign home appliance and home furnishing brands such as Gree, Stone, and Hualing to launch the "Flash New Product Season" activity. For related new products, customers can also enjoy a 10% discount on trade in deals.