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Automobiles And Home Appliances Record Surge In Sales - Business - Nairaland

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Automobiles And Home Appliances Record Surge In Sales by abasikponke: 6:11pm On May 08, 2020
Automobiles and home appliances record surge in sales

China saw the sales of durable consumer goods including automobiles and home appliances
rebound back during a five-day May Day holiday, said a senior commerce official on Friday.

The effect of COVID-19 outbreak, Wang Bingnan, vice-minister of commerce, said the sales of these products had been suppressed earlier this year.

According to Wang Bingnan Automobile sales of key companies monitored by the Ministry of Commerce in Shanghai, Chongqing and Zhejiang surged by 49.6 percent, 28.5
percent and 8.8 percent year-on-year, respectively, during the May Day holiday period,
while the sales of home appliances on some e-commerce platforms doubled on a yearly basis.

The epidemic has also spurred the growth of online consumption sectors such as fresh-food e-commerce, online education and tele-medical care service, Wang noted.

To stabilize the country's consumption market, Wang Bingnan said 28 provinces and municipalities have issued more than 19 billion yuan ($2.69 billion) of consumer vouchers since the outbreak.
These promotional measures have achieved encouraging results, boosting both people's confidence and consumption volume, Wang said.


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