The ongoing China's National Day holiday has seen not only a boom in car sales but also a surge in demand for energy-efficient smart appliances, reflecting a growing consumer preference for eco-friendly technology.
Shanghai has launched a themed consumer exhibition during the week-long National Day holiday starting on Oct. 1, offering substantial subsidies for consumers replacing old appliances with newer, greener models, further fueling the buying frenzy.
The Shanghai exhibition, the first of its kind to incorporate trade-in subsidies, attracts massive crowds. Consumers are flocking to booths showcasing a wide range of appliances and home goods, taking advantage of government incentives and special holiday discounts.
Long queues are formed at checkout counters as shoppers eagerly upgrade their homes with cutting-edge technology.
"I bought a refrigerator, a washing machine, and a dryer, which are needed at home. The exhibition, combined with the government subsidies, saved me around 1,000 (about 141 U.S. dollars) to 2,000 yuan (about 285 U.S. dollars)," said one shopper surnamed He.
Another shopper surnamed Cheng, explained his focus on energy efficiency.
"We're all looking for top-level energy efficiency appliances because they save electricity. The government subsidy of 20 percent, along with the additional local Shanghai subsidy, makes it very cost-effective," he said.
This surge in consumer spending has translated into significant gains for retailers, with many reporting substantial sales increases. "We're expecting sales to exceed one million yuan today alone, and I estimate we'll reach five to six million yuan within three days," said Ma Jiamin, an appliance retailer.
Shanghai's initiative expands upon the national trade-in program by including a wider range of eligible products.
In addition to the eight major appliance categories like refrigerators, washing machines, televisions, and air conditioners, the program now covers 60 additional product types, including robot vacuums, air purifiers, and hearing aids. Subsidies cover 15 percent of the sales price, up to a maximum of 2,000 yuan.
"Our focus this time with the home appliance trade-in program is on intelligent, green, and elderly-friendly products. We aim to promote the upgrading of our entire industry's structure around these three types of products," said Ge Sen, Secretary-General of the Shanghai Electrical Appliance Commercial Industry Association. Meanwhile, central China's Hubei Province has launched a "Youth Fun Season" campaign targeted younger consumers with thousands of gift packages worth over 1,000 yuan each. Consumers could win coupons for smart watches and other electronics through a lottery system.
Hubei has also launched a new round of consumer vouchers for electronics, covering tens of thousands of merchants province-wide, further stimulating spending among young people.
"The second batch of consumer vouchers for 3C digital products amounts to 50 million yuan, with a subsidy rate of 10 percent, aimed at energizing the electronic product market across the province," said Liu Mo, Director of Market Operation and Trade Services at the Hubei Provincial Department of Commerce.
These combined efforts reflect a nationwide push towards greener consumption and technological upgrades, driving economic growth while promoting sustainable practices.
Low-carbon revolution sparks smart appliance trend during National Day Holiday
