China's home appliance inventories double in COVID era

Weak consumer spending widens rift between manufacturers and retailers

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Customers look at appliances at a store in Guangzhou. (Photo by Yusuke Hinata)

YUSUKE HINATA, Nikkei staff writer

GUANGZHOU -- Weak consumer spending triggered by the pandemic has swollen inventories at Chinese home appliance manufacturers to the breaking point.

Combined inventories at five manufacturing groups jumped 15% on the year to 98 billion yuan ($14 billion) as of the end of June, a Nikkei survey of earnings statements shows, for a doubling over three years.

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