Sales of fridges in China are set to dip markedly this year, according to new research.
Data released by research firm GfK Retail and Technology claims sales of fridges in China will only increase by 5 per cent this year, following growth rates of 36 per cent in 2010 and 38 per cent in 2009.
According to a statement from GfK, demand for luxury appliances has helped push up sales figures. High-end fridges accounted for 16 per cent of total sales last year, although this is expected to drop to 9 per cent in 2011.
GfK said the effect of new policies introduced by the Chinese government had an effect on sales, but this is now beginning to wane. One policy of the administration has been to offer discounts on white goods such as fridges in a bid to encourage uptake in rural communities – improving standards of living in the process.