Chinese consumers unleashed their massive buying power during the weeklong National Day holiday, with high-quality intelligent home appliances and outdoor equipment gaining traction. Data from e-commerce platform JD show that sales of clothes dryers and floor-cleaning appliances surged about 300% from October 1 to 3, compared with the same period last year. Purchases of juice extractors, air fryers, coffee makers and other kitchen appliances increased more than 50% year-on-year during the same period. With a growing interest in outdoor recreation among Chinese people, sales of shoes and apparel for outdoor use, skateboards and cycling equipment rose over 50% year-on-year during the first three days of the National Day holiday. In addition, the turnover of tents and picnic supplies skyrocketed 98% and 118% on a yearly basis, respectively, while the transaction volume of photographic equipment soared 17-fold year-on-year, JD said.
In the first five days of the holiday, the sales of extended reality (XR) devices on Alibaba’s Tmall platform surged 330% from a year earlier. Moreover, purchases of imported goods, including healthcare products and outdoor equipment, registered a double-digit growth year-on-year on Tmall Global, an e-commerce site dedicated to overseas items. Despite sporadic Covid-19 flare-ups, China’s consumption recovery has gained impetus during the seven-day National Day holiday, indicating the strong resilience and immense potential of consumption, said Wang Yun, Researcher at the Academy of Macroeconomic Research. A series of pro-consumption measures, such as giving away shopping vouchers, have played a vital role in bolstering the recovery of consumption and unleashing consumers’ potential purchasing demand, Wang said, estimating the country’s consumption growth will gather pace in the fourth quarter of this year.
According to Suning, a major online shopping platform, from October 1 to 6, the number of orders placed at its brick-and-mortar stores nationwide jumped 168% over the same period one month earlier and the sales of intelligent home appliances rose 95% on a monthly basis. Sales of green and energy-saving home appliances increased 98% month-on-month during this period, among which sales of energy-saving water heaters and refrigerators surged 132% and 134%, respectively, Suning said. Data from local authorities in Shanghai showed spending on catering, cars and home appliances via offline channels in the city increased by 18%, 76.3% and 300% year-on-year during the holiday, the China Daily reports.
