DBS says technology poses major challenges for vast retail market

Ever-changing technology and booming e-commerce will continue to be a game changer for the vast retail market in the Chinese mainland, with some industries jumping on the bandwagon of sustainable growth while other sectors feeling sustained pressure and struggling to seek a way out.

Smart home appliance makers, benefiting from technological advancement and government support, are looking to capitalize on low market penetration to get on the fast-growth track, said Mavis Hui, a Hong Kong-based analyst at DBS Vickers.

According to IHS Technology's Home Appliance Intelligence Service, this business offers enormous potential, and is projected to grow from an estimated less than 1 million units shipped in 2014 to more than 230 million units in 2020.