The furniture trade-in pilot program ended on November 30. The Beijing Municipal Commission of Commerce announced that within 30 days of the policy's implementation, five participating furniture stores completed trade-in sales totaling 150 million yuan. Furniture trade-in sales accounted for 26.3% of total sales of similar products in these stores. In just 25 days, over 20,000 pieces of furniture were traded in, with sales reaching 150 million yuan. During the last week alone, trade-in sales exceeded 7,000 units, generating 46 million yuan in revenue.
According to industry feedback, the trade-in initiative has helped solve some challenges faced by furniture stores, but it also revealed operational issues that need improvement. Many in the industry have mixed opinions about the policy. Some believe it brings significant benefits and hope it can be expanded nationwide, while others point out several problems in its execution.
Most furniture store companies support the government’s trade-in pilot program. Yin Bo, general manager of Lanjing Lijia Home Plaza, stated that the trade-in initiative has played a "fairly good role" in boosting sales. Meng Xiangmin, vice president of Actual Home Group, believes the policy is beneficial for both consumers and businesses, helping to "pull consumption" and "promote industrial upgrading."
During the implementation period, store sales saw a notable increase. Store owners noted that many old pieces of furniture are still usable but often end up as waste. The trade-in policy addresses this issue by allowing customers to replace old furniture with new ones while receiving subsidies. It also simplifies the disposal of old items, making the process more convenient.
However, despite the benefits, there are still challenges in the actual operation of the trade-in program. First, the detailed reporting process is cumbersome. All furniture products involved in trade-ins must be reported to the Beijing Commission of Commerce and published on their official website, which increases the workload for merchants. Second, subsidies are transferred to consumer accounts via bank transfers, and since different banks are involved, it causes inconvenience. Third, furniture stores must review various customer details, requiring owners to submit identity information, purchase records, invoices, and application forms, which adds administrative burden and delays subsidy processing, causing dissatisfaction among some consumers.
Additionally, the exchange process lacks flexibility. While policies state that goods of the same category can be exchanged, in practice, there are strict requirements. For example, if a customer wants to buy a new sofa with a split structure, they may need to use two old sofas for the trade-in; otherwise, the extra part cannot qualify for the exchange.
Overall, replacing old furniture with new ones is generally seen as a policy that benefits both people and businesses. If the existing shortcomings can be continuously improved during implementation, the policy should be promoted more broadly.
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