Move over, Black Friday—China’s consumer goods trade-in program is rewriting the playbook for boosting spending! 🚀 New data reveals the initiative has driven sales of 109 million home appliances and 74 million digital devices this year, engaging over 66 million shoppers. Even electric bikes are getting love, with 9.06 million units sold—enough to circle the Earth’s equator twice if parked bumper-to-bumper! 🚲🌍
The Ministry of Commerce reports the program generated a jaw-dropping 1.1 trillion yuan ($153.9B) in sales from January to May. This isn’t just about swapping old gadgets: Retail sales grew 5% year-on-year in H1 2024, outpacing Q1 growth by 0.4 percentage points. 💸
Why does this matter? As global markets wobble, China’s focus on domestic demand could stabilize its economy while giving eco-conscious shoppers incentives to upgrade sustainably. Think of it as a stimulus package meets Marie Kondo—sparking joy for wallets and the planet! 🌱✨
