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Baotou's trade-in policies drive 6.5 billion yuan in consumption

Updated: 2024-11-13

Baotou has intensified efforts this year to boost domestic consumption, with local commerce authorities rolling out strong promotional measures. The city has already issued 65 rounds of government consumption vouchers worth 15.32 million yuan ($2.13 million), providing discounts for residents and effectively stimulating spending. More than 700 promotional activities have been organized across the city, driving 6.5 billion yuan in consumption.

Local enterprise Baotou Tongli Household Electric Appliance Co has implemented Baotou's home appliance trade-in program since the policy's launch on Sept 17. By promoting the program and expanding its sales coverage, Tongli achieved notable growth across online and offline channels, with sales volume and customer traffic significantly increasing. Data from the third quarter of this year shows that the company's sales have grown by more than 50 percent year-on-year.

From January to September, the city's total retail sales of consumer goods grew by 3.87 percent, surpassing both the regional and national averages. Policies also boosted offline appliance sales during the recent Double Eleven Shopping Festival, with local stores reporting a marked rise in foot traffic compared to previous years.

Baotou will continue adopting trade-in policies that cover automobiles, household appliances, kitchen and home furnishings, and electric bikes. These measures are fueling consumption upgrades and strengthening market vitality.