＂Trade-in action＂ releases consumer demand, and the prosperity of home appliance industry is expected to continue to improve.
A few days ago, the State Council issued the Action Plan for Promoting Large-scale Equipment Renewal and Trade-in of Consumer Goods (hereinafter referred to as the Action Plan). Earlier, the fourth meeting of the Central Financial and Economic Committee was held to study the issue of large-scale equipment renewal and trade-in of consumer goods.
The "Action Plan" proposes to carry out the trade-in of household appliances. Support home appliance sales enterprises to cooperate with production enterprises and recycling enterprises to carry out trade-in promotion activities, open online and offline home appliance trade-in areas, and give preferential treatment to consumers who exchange old home appliances for energy-saving home appliances. Encourage qualified places to subsidize consumers to buy green smart home appliances. Accelerate the implementation of home appliance after-sales service promotion action.
The industry believes that the home appliance trade-in policy will further release the demand for home appliances, and the home appliance consumer market is expected to achieve steady growth this year.
Head enterprises may take the lead in benefiting
On March 10th, Suning.cn’s "Ten Thousand People Grab Air Conditioning" campaign ended. During the event, the sales volume of air conditioners maintained steady growth, and the volume of trade-in orders increased by 150% year-on-year.
Liu Youhua, deputy director of the wealth research department of Paipai. com, told reporters: "The source of funds for the old-for-new policy of home appliances was mainly local finance, and the scale of funds was small. The main level of promoting this round of trade-in policy is higher, which enhances the expectation of central financial support. It is expected that the scale of subsidies will be larger and the implementation effect will be better. "
In 2021, the Ministry of Finance and other four departments issued the Notice on Adjusting the Subsidy Standard of the Waste Electrical and Electronic Products Disposal Fund, which adjusted the subsidy standard of the Waste Electrical and Electronic Products Disposal Fund, and the amount of subsidies for each set of various electrical and electronic products ranged from 25 yuan to 100 yuan. On this basis, the mainstream e-commerce platform, represented by JD.COM, also has the amount deduction measures for the trade-in of household appliances.
Recently, more and more head home appliance enterprises independently undertake the subsidy for replacement, and the replacement of home appliances has gradually become market-oriented and normalized.
During the two sessions of the National People’s Congress this year, Dong Mingzhu, deputy to the National People’s Congress and chairman and president of Gree Electric, suggested that enterprises should independently bear the subsidies for replacing old appliances with new ones. She called for making it clear that enterprises should independently undertake the responsibility of trade-in, cancel excessive government subsidies, standardize the second-hand household appliances market, establish and improve the recycling system of used household appliances, strengthen supervision and evaluation, and increase consumer participation.
The relevant person in charge of Midea Group told reporters: "In 2023, through the double benefits of" recycling subsidy "and" replacement subsidy ",the company has invested more than 1.5 billion yuan to subsidize consumers and promote activities, and the sales conversion has exceeded 15 billion yuan. At the same time, the recycling of 3.1 million used household appliances was completed, effectively promoting the consumption upgrade of household appliances. "
Sun Qian, chief analyst of TF Securities Household Appliances, believes that head enterprises are more capable and have established their own trade-in system, which can provide additional subsidies on the basis of national policies, form a relatively complete household appliance recycling system, or take the lead in benefiting.
The rise of green smart home appliances consumption
At present, China’s home appliance market has stepped from the "incremental era" to the "era of equal emphasis on increment and stock". According to public data, in 2023, the number of major categories of household appliances in China exceeded 3 billion, and the life cycle of household appliances is generally 8 to 10 years, and a considerable part of them have been "overdue".
The industry believes that the new round of "trade-in" policy may be combined with energy efficiency policy to further release the consumption potential of green smart home appliances.
Related enterprises are seizing development opportunities. The relevant person in charge of Midea Group said that different from the traditional home appliance replacement activities, Midea Group has achieved "cross-category replacement". It is no longer the same category as "old air conditioner for new air conditioner" and "old TV for new TV". By forming a "green home appliance library", different categories of old home appliances can also provide consumers with a one-stop replacement experience for the whole house.
Haier Zhijia said that it is building the industry’s first big data platform for home appliance recycling. We will make full use of this platform and continue to iterate, enabling the integration, high quality and digital upgrade of the whole link of household appliances recycling, dismantling, recycling and reuse, and promoting the green cycle development of the industry.
"It is expected that this round of policies will provide greater subsidies for energy-efficient and green energy-saving home appliances, which is expected to promote the upgrading of product structure in the home appliance industry. Considering that the sales volume of energy-efficient products of household appliances leaders is relatively high, and they have the advantages of R&D, production and products, they will benefit more from the subsidy policy. In the past three years, the industry has accumulated a lot of updated demand, and subsidies are expected to stimulate the accelerated release of demand. Superimposed overseas demand is better this year, and the overall prosperity of the industry may increase. " Hu Kunchao, investment manager of Cheese Fund, said.