Electronics and appliance specialist retailers enjoyed a slight rebound in 2018, supported by the on-track premiumisation trend. Younger-generation consumers are shifting focus from price orientated to quality driven, leading to booming high-end sales and thus contributing to the sales increase.
Omnichannel strategies are not only pushing offline retailers to open online stores but also causing online players to expand their presence outside the virtual world. In March 2018, JD.
Facing the onslaught from e-commerce, offline retailers are beginning to seek integration with online retailers to survive, because the best timing for building self-owned platforms is long gone. Consumers in China are already comparatively faithful towards just certain e-commerce platforms.
Suning Commerce Group remained the prominent place for electronics and appliance specialist retailers in 2018 with an increased value share. Suning’s outstanding performance results from its upgrading and expanding, which is even way beyond electronics and appliance specialist retailing.
GOME Electrical Appliances Holding has been unable to increase its value share in the face of e-commerce going massive and New Retail becoming imperative. As a result, GOME introduced its transformation from an appliance specialist retailer to an overall solution provider for “Home and Life” at the beginning of 2018, trying to improve its trajectory by adding homeware products.
Xiaomi, the original online smartphone vendor, has shown a vast presence in the offline world by aggressive development of its brick-and-mortar retail store Mi Home. After achieving its saturated penetration in online, Xiaomi decided to improve brand awareness and fulfil extra growth offline.
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This industry report originates from Passport, our Retailing market research database.