Retail Sales Value of Chinese Household Appliances Grow 14.4% YoY in 2013, finds new report

According to the National Bureau of Statistics of China, the retail sales value of Chinese household appliances during January and October 2013 reached $562.1 billion RMB (US$92.2 billion; US$1=$6.0938 RMB), up 14.4% year on year. In October alone, retail sales value arrived at $66.4 billion RMB (US$10.9 billion), rising 12.5% year on year. Thanks to China’s subsidy policy for energy-saving appliances, which ended in May 31, Chinese domestic household appliances market saw a significant growth in the first half of 2013.

Particularly, during January and April, the Chinese household appliances market was on the rebound, with its sales volume approaching or exceeding historical records. Yet from April to June, China’s growth in industrial value-added slid from 9.3% to 8.9% while its fixed assets investment growth fell from 20.1% to 19.3%, showing a more conservative attitude toward domestic investment and consumption. After the subsidy policy terminated in the end of May, the Chinese household appliances market underwent a period of adjustment, in which sales of TVs, refrigerators, and washing machines declined 37.8%, 29.8%, and 43.7%, respectively. Air conditioner sales, however, continued to expand due to seasonal demand.

In view of an increasing popularity of energy-saving appliances and the continuous growth of the domestic household appliances market in China, MIC has set up the Chinese White Goods Database since the end of 2013 and will continue to keep track of the Chinese white goods market and provide the market’s latest information on a monthly basis.

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