Refrigerator sales up significantly in Shanghai as dealers sell off stocks

GFK Zhongyikang data shows that since the end of March 2022, offline sales of refrigerators in Shanghai have continued to grow: in the 13th week of this year (March 21-27), sales increased by 48.4% year on year, and from March 28 to 3 April sales increased by 46.5% year on year.


In the 15th week of this year, from April 4 to 10, sales of freestanding freezers in Shanghai rose 113.2% year on year, and sales increased 153.2% year on year.


Midea Group stated that the demand for freezers has recently increased significantly. In terms of sales, online sales of Midea refrigerators grew 16% month-on-month in March, and sales increased 26% year-over-year. So far in April, sales are up 45% year on year, user demand for refrigerators and freezers is increasing significantly.


In the face of the current increase in demand for refrigerators and freezers, the company is increasing supply flexibility through dedicated management of the entire value chain and is doing its part to "protect people's livelihoods and promote stability."

Accordingly, Midea Group quickly brought to market their existing stock of refrigerators and freezers.