E-commerce giant JD has taken the lead in China’s online appliances market.
The finding was part of a new report on the industry within China prepared by the China Electronic and Information Industry Development Research Institute, which showed JD’s market share stands at 22.39 percent in a sector that raked in RMB891 billion (US$128 billion) last year with a 41.17-per-cent penetration of online sales.
The lead online product in the category by an overwhelming margin was the air conditioning unit, bringing in RMB 216 billion ($31 billion) in total sales and taking up nearly a quarter of all household appliances traded via the internet. Other popular goods include TVs, fridges, washing machines, kitchen appliances, and household appliances.
While the recent coronavirus outbreak has had a markedly negative impact on online sales as well as offline trading, normal market conditions are expected to return once the crisis passes.
“When the epidemic subsides, consumer demand will return,” said JD Retail CEO Lei Xu.