Consumer electronics reign supreme

Consumers try Xiaomi products at a Beijing store in April. [Photo provided to China Daily]

Chinese consumers are showing growing enthusiasm for consumer electronics at the Double Eleven shopping gala, a Chinese shopping extravaganza that kicked off on Monday.

Experts said robust sales data suggests consumers are reviving demand for smartphones after phone shipments declined for several months in China due to a lack of attractive products and a shortage of key components such as than fleas.

Xiaomi Corp said on Tuesday that sales of its consumer electronics products on e-commerce platforms and offline retail stores exceeded 7 billion yuan ($ 1.09 billion) on Monday.

During the first hour of the gala, the company sold more than 500,000 units of its Redmi Note 11 series smartphones, Xiaomi said.

Data from e-commerce platform JD also showed that Apple product revenue on JD in the first four hours of the gala (originally intended to allow singles to splurge) has increased. by 200% year-on-year, while Xiaomi, Oppo and Vivo’s electronics sales in the first hour all exceeded those of the same period last year.

Realme, a fast-growing Chinese smartphone supplier, said on Tuesday that its sales in the first 16 minutes of the shopping festival exceeded its sales by a whole day on November 1 of last year.

Fu Liang, an independent telecommunications analyst, said this year’s Double Eleven shopping festival comes at an important time for Chinese consumer electronics companies, especially smartphone vendors, as they compete to meet targets. annual sales after demand has been below expectations in recent months.

In September, Chinese phone shipments reached 21.44 million units, falling 8.1% year-on-year. In August, shipments also fell 9.7%, the Chinese Academy of Information and Communication Technology said.

As a result, Chinese smartphone games scramble to lure consumers with new products and discounts for older models as they bet big on the Double Eleven shopping gala to drive sales.

Fu said the strong consumer enthusiasm, as seen on the first day of the shopping festival, has laid a solid foundation for fourth quarter sales, which tend to be a peak season for large electronics. public.

Lin Keyu, analyst at Counterpoint Research, said it’s also worth noting that during this year’s shopping festival there were no smartphone models below 1,000 yuan, in part because the companies are offering better products.

As consumer upgrades continue in China, the average selling prices of smartphones are also rising steadily, Lin said.

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