(Yicai Global) Feb. 9 -- Retail giant JD.Com Inc. accounted for almost two-thirds of total online sales of home appliances in China last year, with related revenues climbing to CNY298 billion (USD47.2 billion).
The sector grew fast in 2017 with total sales hitting CNY490 billion, up by more than one-quarter on the year before, IT ministry data shows.
Online sales of air-conditioners, refrigerators, washing machines and television sets all grew by more than 50 percent in 2017, while high-end products such as handheld cordless vacuum cleaners are becoming increasingly popular among consumers.
People born in the 1980s remain the dominant buyers of home appliances through the web, making up 48 percent of total consumers, the report said. The percentage of buyers born in the 1990s grew to 23 percent last year, up nine points on the year before. Young shoppers represent the majority of China's online consumers across all product categories, indicating there still remains ample room for growth in the online home appliance market.
E-commerce platforms have stepped up efforts to set up physical stores in rural areas of the country. As of the end of last year, JD.Com had established 8,000 home appliance stores in non-urban areas, while rival Suning Commerce Group Co. owns 2,200 outlets.