According to JD.com, whose chief executive officer is Liu Qiangdong, the life values and living scenarios are the drives of new home appliances. The home appliance market is increasingly focused on satisfying the needs of modern living scenarios and life values. According to the white paper released by JD.com, this is where the consumers’ demand shifts from being driven by essential functions to life quality.
Consumption trends from the market, consumers, demand, scenarios, and many more were analyzed in this white paper, indicating that the concept of new home appliances is inevitable in terms of market development. Chinese consumers experience many changes in living space, family lifestyle, and size, accompanied by newly created scenarios such as kitchens using inbuilt and integrated home appliances and entertainment spaces for movies and games watching, and others stimulating RAPID GROWTH OF THE A NEW HOME APPLIANCE MARKET.
According to the information center in china for information industry development, its appliance market recovered comprehensively in 2021 after the Covid-19 pandemic. The pandemic fanned the demand for home appliances while an increase in the entertainment sector, the TVs. Almost half of the consumers who need renovation prefer inbuilt refrigerators to kitchen appliances.
Another trend in JD’s appliances has been discovered during JD’s single-day great promotion. The sales of fresh air ventilation and air conditioning integrated systems exceeded the annual turnover of 2020. The sales of a regular and steam oven, range hood, and stove system jumped four times compared to 2020.
The younger generation born after 1990 has become the leading consumer group, affecting the market with their product in both look, function, and user experience. The concept of home appliances leads the way for the industry. Since future products will need to cater to consumers’ preferences in terms of look, function, and use experience in various scenarios, JD home appliances will collaborate with other brands to upgrade the industrial structure and promote the business.
JD worldwide sales jumped as the 618 Grand Promotion kicked off. The promotion kicked off on May 31st, 2022, at precisely 8p.m, and immediately after 24 hours, JD’s e-commerce marketplace had surged, with hundreds of brands more than doubling. The theme of the great promotion was Responsible Supply Chain. According to the data, sales of cross-border food, fresh products, and beverages had increased by 160% within the first 24 hours.
Sales of imported kitchen appliances had increased by 128%, which indicated that customers had changed their lifestyle by cooking more at home because of the pandemic. The transaction value of imported electronic education devices went high by around 17 times, and this is because children relied more on online learning during the pandemic. Children’s products also had a natural increase as June 1st was children’s day. According to Liu Qiangdong, the demand for imported goods increased rapidly as more customers turned to consumption upgrades.
The work from home also evolved into a rising consumer, demanding better living scenarios. JD worldwide offers cross-border imports to Chinese customers. Many overseas brands saw more than 200 percent sales growth in the first 10 minutes of the Grand promotion. At the press conference, JD retail CEO Lijun Xin said the main intention was to create values for business, industries, and society. According to JD.com, this year’s great promotion will undoubtedly create an encircling protection service for customers wherever they shop.
