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Retail sales of household appliances and consumer electronics China 2017-2020

The graph shows the retail trade revenue of household appliances and consumer electronics in China from July 2017 to July 2020. In July 2020, retail sales of household appliances and consumer electronics in China had amounted to about 68 billion yuan.

Electrical appliances in China

The household appliance industry in China has grown into a multi-billion dollar industry. In 2019 alone, market volume of the Chinese electrical household appliances sector had amounted to about 1.5 billion yuan. As the Chinese home appliance industry flourishes, Chinese household electronics companies play an increasingly important role in the global market. Since 2014, Chinese company Midea Group had been the world’s largest household appliance company with a total sales value of approximately 39.8 billion U.S. dollars in 2019. Another Chinese company, Gree Electric Appliances, ranked second with a total sales value of about 28.5 billion U.S. dollars.

Per capita expenditure of private households on household appliances and consumer electronics in China had skyrocketed from approximately 110 yuan in 1990 to 1,629 yuan in 2018, and continues to grow. Market growth of the Chinese household appliances market was mainly driven by rising individual income levels and growing urbanization. In 2017, annual growth of the household appliances market in China was around nine percent.

Retail trade revenue of household appliances and consumer electronics in China from July 2017 to July 2020

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Source

Release date

August 2020

Region

China

Survey time period

July 2017 to July 2020

Supplementary notes

* According to the source, figures for January and February have been grouped together to curb the influence of the Chinese New Year on the statistic. Chinese New Year falls between January 21 and February 21.

Note: 1 yuan equals approximately 0.14 U.S. dollars and 0.12 euros (as of August 2020).

According to the source, retail sales refer to the trade revenue of tangible goods not intended for business use traded from wholesale and retail companies to individuals or non producing social organizations.
During the survey, only wholesale companies with an annual revenue of 20 million yuan and above as well as retail companies with an annual revenue of five million yuan were questioned.

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