Core Insights - The "Double Eleven" shopping festival has seen a significant price fluctuation in home appliances, with some products experiencing price increases compared to previous sales events, raising concerns among consumers about potential deceptive pricing practices [1][4][9] - The overall market heat for home appliances in 2025 is expected to be more subdued compared to the strong boost from the national subsidy policy in 2024, leading to a potential decline in sales [10] Price Fluctuation - Consumers reported that prices of home appliances in their shopping carts increased after the start of the Double Eleven event, with some products priced higher than during the previous 618 event and even higher than pre-event summer prices [1] - A specific example highlighted a brand's dryer that was initially priced at 11,990 yuan, but after discounts, the price rose to 8,581 yuan during the event, despite promotional claims [1][4] Factors Influencing Prices - Price fluctuations are attributed to multiple factors including brand pricing, dealer pricing, and platform subsidies, with different channels exhibiting varying price behaviors [8][9] - The home appliance market is seeing price increases primarily in kitchen appliances, black electronics, and various consumer electronics, while air conditioning prices remain stable or even decrease [9] Market Outlook - The upcoming national subsidy policy is expected to stimulate consumption, but its impact is predicted to be milder compared to the initial rollout in 2024, with potential year-on-year declines in the home appliance sector for the 2025 Double Eleven event [10] - The China Household Electrical Appliances Association has called for fair competition and self-regulation within the industry to address consumer concerns regarding price adjustments and ensure a conducive market environment [10]

Core Insights - The "Double Eleven" shopping festival has commenced, but the overall enthusiasm for 2025 is expected to be much more subdued compared to the strong boost from the national subsidy policy in 2024 [1][9] - Consumers have reported significant price fluctuations for home appliances during the event, with some products seeing price increases compared to previous sales periods [1][4] Price Fluctuations - Many consumers noted that the prices of items in their shopping carts increased after the start of the Double Eleven event, with some products priced higher than during the previous "618" sales [1][4] - For instance, a specific brand's dryer was initially priced at 11,990 yuan, but after applying subsidies, the price dropped to 7,292 yuan. However, during Double Eleven, the price rose to 8,581 yuan due to reduced platform subsidies [1] Causes of Price Changes - The price fluctuations are attributed to multiple factors including brand strategies, dealer pricing, and platform subsidies [7][8] - Some brands cannot control dealer pricing due to compliance requirements, leading to price discrepancies across different sales channels [8] - The price changes during the Double Eleven event are influenced by varying promotional strategies and subsidy levels across different stages of the event [8] Consumer Behavior and Market Trends - The demand for air conditioning units has already peaked during the summer, leading to a shift in consumer focus towards other home appliances for the upcoming sales [9] - The 2024 Double Eleven event saw significant sales, with a total of 1,441.8 billion yuan, marking a 26.6% year-on-year increase, particularly in the home appliance category [9] Future Outlook - The effectiveness of the upcoming national subsidy policy in stimulating consumer demand remains uncertain, with predictions suggesting a potential decline in home appliance sales during the 2025 Double Eleven event compared to 2024 [9][10] - The Chinese Household Electrical Appliances Association has called for fair competition and self-regulation within the industry to address issues such as false advertising and price manipulation [9]