"618" + trade-in, multiple discounts ignite home appliance consumption

"Government subsidy of 10% in many places", "buy one get one free TV", "brand subsidy of 20%, maximum subsidy of 2,000 yuan", "one-stop for old and new"...... When the "618 promotion" meets the "home appliance trade-in", during the promotion period of a whole month (May 20 - June 20), the sales of home appliances soared all the way - during the "618" period, the turnover of more than 700 home appliances and home furnishing brands on the Jingdong platform increased by more than 100% year-on-year, and the turnover of more than 70 home appliances and home furnishing brands exceeded 100 million yuan. On the Tmall platform, the sales volume of domestic home appliances exceeded 100 million yuan, and brands such as Midea, Haier, Xiaomi, and Gree entered the "1 billion club". Suning Tesco data shows,6month8-10,Sales of high-end color TVs above 10,000 yuan increased by 126% year-on-year,Sales of green energy-saving air conditioners increased by 98%.

Multiple promotions make home appliances more affordable

With the issuance of the "Action Plan for Promoting Large-scale Equipment Renewal and Trade-in of Consumer Goods", many local governments have launched trade-in subsidies based on the actual situation. According to the latest data from the Ministry of Commerce, from January to May 2024, the trade-in sales of home appliances on major e-commerce platforms in mainland China increased by 81.8% year-on-year.

The "household appliance trade-in subsidy" in various provinces and cities has added another fire to the already lively "618" household appliance market - many household appliances have been promoted more vigorously than in previous years, and the real low price has also made the people shout "really fragrant".

JD platform trade-in page

In the main battlefield of "618", the promotion of the e-commerce platform, each platform has come up with a subsidy policy full of sincerity - the Tmall platform has added 200 million yuan in subsidies for "trade-in" before the launch of "618", and the depreciation amount can be reduced immediately when the order is placed, and the valuation of old digital products such as mobile phones, computers, and cameras has generally increased by more than 15%. JD.com, together with the governments of many places, issued trade-in subsidies, and local consumers will be reduced by 10% on the basis of JD.com's "618" preferential rights, and the upper limit of the trade-in subsidy is 1,000 yuan. Suning Tesco has signed the "Joint Announcement on the Trade-in Action" with more than 30 home appliance companies, and consumers can enjoy a 10% subsidy discount on the basis of the transaction price, with a maximum subsidy of 1,000 yuan for a single product and a maximum subsidy of 5,000 yuan for a single user.

A conspicuous trade-in slogan at the door of a home appliance store

During the "618 Promotion", the sales of household appliances in offline stores were also hot. Walking into the offline home appliance store in Beijing, the reporter found that the words "home appliance trade-in" appeared in many conspicuous positions in the store, and each household appliance product was affixed with multiple discount labels. In the air-conditioning sales area, the reporter saw four promotional price reduction labels on an air conditioner with an original price of 4,500 yuan, which were "10% subsidy for 618 stores", "10% subsidy for government trade-in", "2% brand subsidy" and "300 yuan discount for old machines"...... After the above four promotions and subsidies, the price of the product is as low as 2,500 yuan, which is equivalent to a 6% discount on the original price. In the refrigerator sales area, the reporter saw the discount process of a first-class energy-efficient smart refrigerator product with an original price of 6699 yuan - the store's "618 promotional price" was 4199 yuan, the brand subsidy was reduced by 270 yuan, and the government's "trade-in subsidy" was reduced by 410 yuan, and the final price of consumers was 3600 yuan, a price reduction of nearly 50%.

"After experiencing the superimposed effect of multiple promotional subsidies, this year's '618' promotion policy is indeed greater than in the past." Wang Hongji, general manager of GfK Zhongyikang White Appliance Division, said in an interview with a reporter from China Electronics News that thanks to the accumulation of promotional policies in the early stage and the deepening of the attention of the government, enterprises and platforms to the "618" promotion node, the price of household appliances after the promotion subsidy has stronger market competitiveness and consumer attractiveness.

The dual policy refreshes the historical low price of air conditioners

As a best-selling household appliance in summer, air conditioners have become the main "volume king" of this year's "618" home appliance promotion - the price of air conditioners has been refreshed to the lowest level.

"During the '618' period, the price of air conditioning is already at an all-time low, which is lower than the price war in 2019." Industry online analyst Long Fei said in an interview with a reporter from China Electronics News, "The price reduction of air conditioners is concentrated in low-end products, with a decline of 8% ~ 10%, and the 1.5 hp first-class energy-efficient inverter air conditioner of Xiaomi, Changhong, Haier, TCL and other brands is concentrated at about 1600~1800 yuan, which is almost the cost price of manufacturers." ”

In the promotion of air conditioners, the "trade-in policy" plays a role in fueling the fire. "The trade-in has played a certain supporting role in the sales of air conditioners, and air conditioning brands and channel platforms are actively practicing the 'trade-in policy', for example, the subsidy for air conditioners on the Jingdong platform is 300 yuan, and the subsidy for air conditioning cabinets is 600 yuan." Long Fei calculated an account for the reporter: "A brand of 1.5 hp new first-class inverter air conditioner hangs up on the Jingdong platform '618'Plus member promotional price is 1433 yuan, superimposed 300 yuan of old subsidies, 1071 yuan can buy a first-class inverter air conditioner, which can be said to be an unprecedented low price." ”

Not only the Jingdong platform, but also a number of e-commerce platforms and offline stores have implemented the "old for new" subsidy, and the old air conditioner is classified according to the age of use and energy efficiency level, and the price range of the old is concentrated at 150~600 yuan.

At the same time, the smooth collection process also dispels consumers' worries - most of the sales platforms can provide door-to-door collection of supporting services, which is convenient for consumers to "buy new". Liu Qi, president of JD.com's Consumer and Industrial Development Research Institute, said that major appliances and electronic devices are the most well-known categories of trade-in services, and more than eighty percent of respondents believe that trade-in services have inspired them to change their ideas.

For the performance of the air conditioning market during the "618" period, Long Fei said that although the price of "618" air conditioning has been very favorable this year, the promotion period coincides with the heavy rain in the south, and the demand of some southern consumers may not be fully released, so he deduced that in the context of the continuous trade-in policy, the promotion period of air conditioners of various brands will last at least until the end of August.

Brands and platforms jointly assist in home appliance consumption

In addition to the "trade-in subsidies for home appliances" of local governments, home appliance brands and e-commerce platforms have also done their best to assist in home appliance consumption - simplifying preferential activities, extending the promotion time, buying one get one free TV, and brand "out-of-pocket" subsidies, which can be described as full of sincerity.

Tmall platform trade-in page

In terms of the promotion mechanism of the platform, Jingdong, Tmall and other e-commerce platforms have greatly simplified preferential activities this year - cancel pre-sales, make up the final payment, on-site sales and a variety of category subsidy coupons, Alibaba also opened up its Taobao and Tmall two platforms for the first time, and the goods of the two platforms can participate in the 300-50 full reduction together. In addition, a number of e-commerce platforms have launched a price guarantee function during the "618" period, allowing consumers to "make a move when it is time to make a move", such as Pinduoduo launched an "automatic price follow-up" system, and Douyin e-commerce used the "automatic price change" function.

In addition, in terms of marketing efforts, Alibaba and JD.com also use social apps on a large scale to bring goods. For example, Taobao publishes product promotion advertisements in WeChat Moments and Weibo comment areas, and Pinduoduo promotes and sells products on Xiaohongshu and the video platform Bilibili (hereinafter referred to as "Bilibili"). According to the data released by station B, digital home appliances have become the industry with the fastest growth in turnover of station B this year, with a rapid growth of 152% year-on-year. The new customer rate of a domestic water purifier brand from station B is as high as 70%, and the unit price of its products exceeds 2,000 yuan.

Gree Electric Appliances launched the announcement of the trade-in activity of home appliances

In addition to e-commerce platforms, this year, home appliance brands have "paid out of their own pockets" to give 2%-20% corporate subsidies to goods. Haier Smart Home has launched a dual subsidy of up to 20% for government and enterprises, and a maximum subsidy of 2,000 yuan for a single unit. Midea Group provides consumer subsidies of up to 8 billion yuan. Gree Electric has invested 3 billion yuan, with a maximum subsidy of 1,000 yuan, and the old air conditioner machine is free of charge, regardless of brand. Hisense provides brand subsidies through its online and offline stores,The average subsidy is 10% of the transaction amount,The maximum subsidy for a single unit is 2000 yuan。 Changhong TV has launched"BuyAIFreal+TV,Get 42-inch smart TV" and other subsidy activities。

"As one of the most important promotional nodes in the first half of the year,'618 promotion' may become the 'key battlefield' that determines the sales report card of household appliances in the first half of the year,In this context,Major enterprise manufacturers and e-commerce platforms have invested a lot of resources,By providing preferential subsidies、Launching new products,Create an excellent purchase opportunity for consumers。 Wang Hongji told the "China Electronics News" reporter, "Obviously, this year's '618 promotion', which superimposed the 'trade-in' policy, has played a significant role in promoting the sales of green and smart home appliances." ”

Author丨Wang WeiEditor丨Qiu Jiang YongmeiEditor丨Maria Producer丨Lian Xiaodong