Date
28 May 2017
Improving functionality of new robot vacuum models has created a booming market for this smart appliance in recent years. Photo: Internet
Improving functionality of new robot vacuum models has created a booming market for this smart appliance in recent years. Photo: Internet

If you have the right product, a slowing economy is no hurdle

Slowdown or not, the right products help ensure a healthy business in whatever environment. A case in point is the smart electronics market in the mainland.

During the Double 11 shopping event organized by Taobao, robot vacuum cleaners recorded sales of 315 million yuan (US$47.92 million), 150 times the amount four years ago.

China’s smart electronics market has seen tremendous growth since the second half of 2013, according to the e-commerce platform.

The popularity of robot cleaners can be attributed to the improving functionality of new models, which offer anti-collision and automatic return-to-charging-base as standard features, the Hong Kong Trade Development Council said in a report.

Another sought-after household robotics product in recent years is robot window cleaners.

It is said that China’s chronic fog and smog problem is fueling demand for such devices particularly in Beijing, Liaoning and Shandong.

The smart electronics market in China is predicted to grow 250 percent a year.

Rather than worrying too much about China’s GDP growth, mainland producers are better off putting more effort into R&D to create useful new products.

Makers hobbled by overcapacity and excess inventory should pay heed to this example — their only way out is to make something people want.

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RA

EJ Insight writer

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