Strong consumption of home appliances, Suning's 23.3% market share again ranks first

In the third quarter of this year, the Chinese home appliance market finally ushered in a good time for market recovery after experiencing the "ice and fire" test in the first half of the year. Under the country's dual-cycle development policy of "expanding domestic demand and promoting consumption", China's economic growth in the first three quarters turned from negative to positive, and the consumer market recovered strongly. On the whole, the demand for home appliances continues to be released, and product innovation leads home appliance companies to keep pace.

According to the latest "2020 China Household Appliance Industry Third Quarter Report" (hereinafter referred to as the "Report") jointly released by the China Household Electrical Appliance Research Institute and the National Household Electrical Appliance Industry Information Center (hereinafter referred to as the "Report"), the domestic home appliance market sales scale in the third quarter of 2020 is 166.21 billion yuan , The sales of major categories of home appliances further rebounded. The

report pointed out that in the third quarter of 2020, in all channel forms, Suning.com continued to lead the market by relying on its own online and offline full-scene business model, gaining a 23.3% market share. JD.com, Tmall and Gome gained market share of 15.4%, 9.7% and 5.6% respectively.

Affected by the epidemic this year, the convenient shopping experience provided by online platforms has greatly increased consumer stickiness, and online channels have continued to show growth. According to data from the National Household Appliances Information Center, in the third quarter of 2020, the national household appliance online channel sales scale was 68.9 billion yuan, and online household appliance sales accounted for 41.5%, an increase of 5.8% over the same period last year.

In the second half of 2020, as the epidemic prevention and control situation stabilizes and improves, the offline consumer market is gradually picking up. The potential of the low-end market has been further tapped. Production companies have strengthened the penetration of the township market through distributors, and sales channels have penetrated more into the low-level market through franchised stores. The

offline market Suning still steadily tops the list, maintaining the first place with a market share of 17.6%.

Since 2020, Suning.com has continued to lead the recovery of the home appliance market through measures such as position opening plans, trade-in subsidies, and open platform empowerment. At the same time, it has been reforming and upgrading products, channels, and marketing models.

Suning.com has always insisted that "service" is the only product, and it has focused on the township market. The number of retail cloud stores across the country has reached 7,000, serving 200 million users in the sinking market, and further expanding the merchant platform ecosystem, relying on diversified and comprehensive The development strategy of scenario, high efficiency, and extension of uplink and downlink has injected new vitality into the entire home appliance market.