By hannover-web.com “Initiating a trade-in program for consumer goods not only benefits the present but also promotes long-term growth. It fosters both economic stability and transformation, benefiting businesses while enhancing the quality of life for consumers. Local governments should seize this opportunity to implement a new round of policy upgrades, planning impactful promotional activities that prioritize consumer engagement and offer great trade-in experiences.” Recently, in Shaoxing Keqiao, the ceremony marking the launch of a series of trade-in activities in Zhejiang Province took place, with Han Jie, the Secretary of the Party Leadership Group and Director of the Provincial Department of Commerce, announcing that from September to December, over 100 events focusing on trade-ins will be held across the province to fully implement this initiative.
To further promote the trade-in policies for automobiles, Shaoxing Keqiao has hosted several car exhibitions throughout the year. From the Spring Car Expo in April and the Guozhu Lake Auto Festival in June to the Autumn Car Show in September, these events have consistently stoked local interest in purchasing vehicles.
Local resident Xu Jinlei took advantage of the car show to trade in his long-used gasoline vehicle for a new energy car. “I calculated the numbers—my old car is worth about 25,000 yuan, and the new BYD electric car I chose costs 155,800 yuan. With the trade-in subsidy from Zhejiang Province, I got a discount of 15,000 yuan, and the dealership offered another discount of 4,000 yuan. On top of that, I qualified for another 10,000 yuan off with the store’s financing plan. In total, that means I only need to put down less than 20,000 yuan for the new car, and my monthly car payments will be just a bit over 2,000 yuan, which really eases the financial burden.”
The momentum of trade-in policies has also heated up the used car appraisal market. At the SAIC Volkswagen Keqiao 4S dealership, used car appraisers are working tirelessly. “We have dozens of customers daily looking for used car appraisals, all eager to take advantage of the trade-in policy,” said He Feng, the sales director at the dealership. To better align with the new policies, the dealership has rolled out a comprehensive trade-in service, allowing customers to drive in their old vehicle and drive out with a new one. Just recently, during the Autumn Car Show in Keqiao, the dealership received over 60 orders.
For those looking to upgrade their home appliances, the appliance subsidy has proven incredibly beneficial. Liu Ranran from Taizhou’s Jiaojiang District noted, “With renovations happening at home, I took advantage of the appliance subsidies and ended up saving over 10,000 yuan.” Recently, she purchased high-end kitchen appliances, a water heater, a refrigerator, a washing machine, and a television at a mall, which would have originally cost over 90,000 yuan, but with the subsidies, she managed to buy everything for just over 70,000 yuan.
The demand for home appliances has surged in Jiaojiang due to the subsidy program. At the Guoshang Plaza on Jiefang South Road, banners promote government subsidies of up to 2,000 yuan for appliance purchases and discounts of 20% on energy-efficient products. Even on weekdays, the store has seen a steady flow of customers.
“The appliance subsidies took effect on September 6, and since then, our sales performance has been outstanding. From September 6 to 17, we sold an average of about 5,000 appliances daily,” said Ye Yusheng, manager of Guoshang Plaza. The subsidies target energy-efficient products, resulting in mid to high-end models becoming the preferred choice for consumers. Since the subsidy program began, the average selling price for appliances at the plaza rose from around 4,000 yuan to approximately 5,300 yuan.
The trade-in programs have also led to a surge in the auto and appliance markets in Hangzhou’s Shangcheng District. The Tmall Youpin store on Qiantang Road has been bustling with customers attracted by the subsidy promotions. Bai Heping, the store’s manager, shared that the discounts offered at their store, in addition to government subsidies, can total around 30%. Since the program launched, sales have more than doubled.
Online subsidies are drawing significant attention as well. Zhejiang Baicheng Group sells major appliances like refrigerators, washing machines, and air conditioners across 12 online stores on platforms like Tmall and JD.com. Marketing manager Xiang Youwan explained that after customers obtain and apply the subsidy coupons online, they see substantial discounts. “One store, which previously had daily sales of 70,000 to 80,000 yuan, now sees that figure jump to around 200,000 yuan once the subsidies are applied. To accommodate customer needs, we also offer delayed shipping services, allowing consumers who don’t need their new appliances right away to store them with us for two months.”
In addition to government subsidies, Shangcheng District is collaborating with various businesses to introduce a Fall 2024 promotional campaign. In the appliance sector, many malls have set up smart home experience zones, integrating appliances into the shopping experience to enhance consumer interaction. In the automotive sector, not only are car manufacturers providing discounts, but supermarkets, restaurants, and gas stations are also participating in promotional activities. To boost awareness of these policies, the district’s Commerce Bureau is working with local streets and communities to promote trade-in initiatives through new media, electronic billboards, and informational pamphlets, thereby creating a vibrant atmosphere around the campaign.
“As of October 17, the trade-in program in Shangcheng District has driven 1.2 billion yuan in automobile consumption and 400 million yuan in appliance sales,” stated Zhou Qiuyi, Secretary of the Party Committee and Director of the Shangcheng District Commerce Bureau. She expressed hopes that the combination of “policy incentives and engaging activities” would draw traffic to shops and deliver real benefits to consumers, sparking a new wave of spending.
