Home Electronics Industry Accelerates Channel Upgrades and Transition

The COVID-19 pandemic has changed people’s lifestyles and consumption habits, and sales platforms have further shifted to online. In the first half of 2020, the offline sales proportion of the home electronics market has shrunk to 54.7% of total sales in China, recording RMB 184.17 billion (US$ 27.5 billion) and a year-on-year decrease of 30.6%. In this context, leading Chinese home electronics enterprises have accelerated channel reforms to realign existing offline sales systems.