DUBLIN, March 22, 2024 /PRNewswire/ — The “Appliances and Electronics Specialists in China” report has been added to ResearchAndMarkets.com’s offering.
In 2023, sales of consumer appliances and consumer electronics saw solid growth in China, thanks to the end of the pandemic, and the “Old for new”, and “Subsidies for green and energy-saving household appliances” policies. However, despite this, and despite the resumption of traffic in shopping centres and shopping streets, sales of appliances and electronics specialists continued to see a slight decline in China in 2023, with a decline also seen in the number of outlets.
PROSPECTS AND OPPORTUNITIES
Uni-marketing and digital technology are used by appliances and electronics specialists
Appliances and electronics specialists is set to return to growth in the forecast period, with increases in current value terms and also in outlet numbers. Whilst e-commerce has already reached a significant share of sales, bricks-and-mortar stores are expected to remain significant in terms of elevating consumers’ shopping experience and shaping the image of brands.
Appliances and electronics specialists become a standard feature of mid-range to high-end shopping centres
In the past, only a very limited number of appliances and electronics specialists were able to afford to open outlets in mid-range to high-end shopping centres – for example, Apple and Huawei. Nowadays, despite high rents, an increasing number of electronics brands, and even appliances brands, are opening outlets in the high-traffic floors of shopping centres in order to get closer to high-spending customers.
The competitive landscape is set to see a reshuffle
In the forecast period, value share is expected to become further concentrated in the hands of giants which have both online and offline channels, such as JD and Suning. JD is utilising the offline resources of Jiangsu Five Star Appliance to open JD MALL, JD Electric Super Experience Store, JD Electric City Flagship Store, etc.
The Appliances and Electronics Specialists in China report offers insight into key trends and developments driving the industry. The report examines all retail channels to provide sector insight. Channels include hypermarkets, supermarkets, discounters, convenience stores, mixed retailers, health and beauty retailers, clothing and footwear retailers, furniture and furnishing stores, DIY and hardware stores, durable goods retailers, leisure and personal goods retailers. There are profiles of leading retailers, with analysis of their performance and the challenges they face. There is also analysis of non-store retailing: vending; home-shopping; internet retailing; direct selling, as available.
The report answers:
What is the market size of Appliances and Electronics Specialists in China?
Which are the leading retailers in Appliances and Electronics Specialists in China?
How is the rise of e-commerce and the expansion of modern grocery retail impacting traditional retail?
How has the impact of COVID-19 and national lockdown impacted consumer demand?
Which formats have benefited the most from stockpiling and enforced home seclusion?
How will the wider economic impact of COVID-19 shape the retail landscape in the future?
Where is future growth expected to be most dynamic?
Key Topics Covered:
APPLIANCES AND ELECTRONICS SPECIALISTS IN CHINA
KEY DATA FINDINGS
2023 DEVELOPMENTS
Gome Group faces a severe business crisis
Regional chained appliances and electronics specialists find opportunities in low-tier markets
Premiumisation is a notable trend in appliances and electronics specialists in tier-1 and tier-2 cities
PROSPECTS AND OPPORTUNITIES
Uni-marketing and digital technology are used by appliances and electronics specialists
Appliances and electronics specialists become a standard feature of mid-range to high-end shopping centres
The competitive landscape is set to see a reshuffle
CHANNEL DATA
RETAIL IN CHINA
EXECUTIVE SUMMARY
Retail in 2023: The big picture
Boosting consumption remains a major challenge
No clear boundary between online retailers and offline retailers
What next for retail?
OPERATING ENVIRONMENT
Informal retail
Opening hours for physical retail
Summary 1 Standard Opening Hours by Channel Type 2023
Seasonality
618 Shopping Festival and Double 11 Shopping Festival
Shanghai May 5th Shopping Festival
MARKET DATA
A selection of companies mentioned in this report includes
Apple
Huawei
JD
Suning
Jiangsu Five Star Appliance
Gome Group
For more information about this report visit https://www.researchandmarkets.com/r/a7leac
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SOURCE Research and Markets