Business Intelligence on Retailing, Franchising, and Consumerism in China

Energy-saving Home Appliances Fund Started In China By Gome

Chinese electronics and home appliances retailer Gome announced that in response to the Chinese government's energy-saving appliances subsidy policy, the company will launch a CNY1 billion special fund to support the implementation of this policy.

According to the company, with the help of the special fund, it will directly lower the prices of its products, so as to provide direct subsidies to consumers, instead of making consumers apply for the related subsidies after purchases. The special fund is expected to provide more convenience to consumers and allow them to enjoy the benefits brought by the new policy.

A representative from Gome told local media that Gome's 1,700 stores are currently reviewing the energy-saving appliances catalog published by the government and will add tags on those products, showing the original prices and the subsidy amounts.

However, consumers still need to provide the copy of their identity cards and sign an energy-saving subsidy promise to enjoy the direct subsidies.

Prior to this, Gome already added a strategic cooperation with China National Institute of Standardization, becoming the exclusive home appliances retailer to promote energy efficient home appliances in China. Before the launch of the country's energy-saving appliances subsidy policy, Gome has signed related orders with Haier, Samsung, Lenovo, Hisense, Skyworth, Midea, TCL, and Changhong.

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