Changes in the demand for home appliances
modern life has been characterized by a high demand for the best quality home appliances. Based on a white paper published by JD.com on 27th May, consumers are no longer demanding the basic things but are shifting to quality items. According to the latest consumption trends observed in the dimensions of consumers, demand, market, and more, upgrading home appliances is unstoppable.
For instance, the Chinese market has shown that consumers are racing to change various things in their living spaces and lifestyles. The change has been extended to the entertainment sector, where movie watching and games are given a new and quality face. In addition, consumers are shifting to built-in and integrated appliances in their kitchens, while living spaces are being facelifted with smart devices. Therefore, the need for quality life has seen the market for new home appliances grow rapidly.
According to the China Center for Information Industry development, the demand for quality home appliances enabled this market to recover very fast from the COVID 19 damages. The need for quality appliances in China’s homes was also observed in the trend of integrated appliances. In 2021, the sales of integrated air conditioners and fresh air ventilators surpassed the sales in 202o by a very large margin. The young generation is becoming the main JD.com product consumers, and their preference is functionality and appearance. For instance, the sales of retro-styled electrical appliances tripled in 2021.
618 grand promotion increases JD sales worldwide
There was a dramatic surge in the sales of JD.com products in the first 24hrs after the official opening of the JD618 Grand promotion on 31st May. Duty-free business transactions rose 20 times while cross businesses increased seven times in the first 24 hrs. Data released by JD indicated a 160% increase in sales of fresh products, beverages, and cross-border food. Other products whose sales increased rapidly include:
Imported alcoholic drinks
Small kitchen appliances
Electronic education devices
Children’s products like baby vitamins
This surge in home appliances and product sales indicated a lifestyle revolution, and people are shifting from a basic lifestyle to a quality lifestyle.
The change in sales was not only experienced in china but also in other parts of the world because the top three consumers of Liu Qiangdong led company was Singapore, Denmark, and Finland. There was a high demand for imported products because consumers needed to upgrade. The collective demand for new items has enabled JD to empower third-party merchants and overseas brands, indicating the new move has a massive impact on the market.
Sales surge after JD618 grand promotion
The nineteenth JD618 Grand Promotion was historic because some brands such as Lenovo, Midea, Xiaomi, and more exceeded RMB one hundred million yuan within 10 minutes after it was launched at 8 p.m. Based on data released by JD, the most searched keywords during the first 10 minutes were toys, air conditioners, and cellphones. As a result of the rapid demand, JD had to act promptly to ensure it met customers’ expectations of quality services. In that regard, a customer who made an order within the first 10 minutes after the festival launch received her order at exactly 8:10 p.m.
Liu Qiangdong oversaw more than 100 brands doubling their sales through his company in a few minutes. This indicated that consumers were adapting to the work from home culture and hence were improving the conditions at home by upgrading the quality of home appliances.
Conclusively, the COVID pandemic was a game-changer in the quality of life. People realized the need for more than basic life and began shifting toward a more meaningful life. The shift resulted in drastic changes in the market as demand for quality appliances surged instantly, and JD helped local and foreign brands double their sales within a short period.