With the end of this year's 618 shopping carnival, one of the two grandest online shopping carnivals within China, Foshan enterprises havemade huge success. According to statistics, the total sales of Midea, one of China's largest conditioners, ranked first during the 618 shopping carnival, which has been the 11th time that it topped the list. Galanz, the famous home appliance brand, increased its online sales by more than 50% compared to last year, and the sales of its DR air fried microwave oven doubled. In addition, the gross merchandise volume of LINSY ranked first in the "List of the Retail Sales of Furniture and Home Decoration" on T-mall, achieving a turnover of more than 500 million yuan in 1 hour and 11 minutes after the start of the final payment on T-mall.
Influenced by the economic recovery, this year's shopping carnival has been made to be a significant business battlefield for enterprises and brands. They made every effort to win the battle by offering exceptionally low discounts.
In face of increasingly severe market competition, Foshan enterprises, such as Galanz and Vanward, have gained stronger competitiveness through revenue growth. From May 31 to June 18, the sales of Vanward increased by 23% compared to last year.
The success of Foshan enterprises' thriving from the severe industry competition results from their strategic adjustments in accordance with the market trend.
For instance, LINSY, combining its product design with traditional Chinese culture, launched 400 new products during the 618 shopping carnival, including Chinese-style armchairs, beige dining tables, Italian leather sofa, etc. Galanz also launched the stunning "2023 China Red" micro steaming, baking and frying all-in-one machine, which integrates microwave heating, steam cooking, intelligent barbecue, air frying and other common functions of modern food cooking, to meet the diversified preferences of consumers.
Besides, Vanward and KZM are also the epitome of innovation. Vanward attempts to apply aerospace technology to the design of its new products. In March this year, Vanward signed a contract with the China Academy of Aerospace Aerodynamic Technology, aiming to apply and transform aerospace technology in the civil field. During the 618 shopping festival, Vanward launched the updated energy-saving electric water heater LS7D and ultra-energy-saving PLUS+ water servo electric water heater MLS5, topping the list of the sales of electric water heater both on T-mall and JD.
In terms of KZM, the company launched a variety of new products, with two main products: the ergonomic chair priced under 1,000 yuan for entry-level consumers, and the high-end Doro series, in order to meet the needs of different users and cover various application scenarios.
Reporter | Christy
Revisor | Linn, Eleanor
Photo | Midea Group, LINSY