Panasonic: Low-price promotions have a big impact on the industry, but they are not the only factor

[Gearbest Technology News]Recently, at the 24th Annual Meeting of Yabuli China Entrepreneurs Forum in 2024, Zhao Bingdi, President of Panasonic (China) Co., Ltd., expressed his opinions on the company’s online and offline sales strategy and ESG practices. He pointed out that Panasonic's contribution to online sales channels continues to grow, providing a strong supplement to offline sales.

Talking about the current phenomenon of many e-commerce platforms using “low price” as their core competitive strategy, Zhao Bingdi emphasized that although price occupies an important position in market competition, it is by no means the only determining factor. He believes that the long-term development of an enterprise ultimately depends on the comprehensive competitiveness of products and solutions, including quality, performance, cost-effectiveness and other aspects.

Panasonic's Zhao Bingdi said low-price promotions have a great impact on the industry

He said, “Promotion through massive quantities at low prices has a great impact on the industry. Panasonic still advocates the tap water theory and hopes to contribute to society at the lowest possible cost, but at the same time it must be responsible for the products and provide after-sales services and products. Quality, product iteration and other corresponding guarantees.”

When discussing the ESG risks faced by the manufacturing industry, Zhao Bingdi admitted that promoting corporate ESG practices will indeed bring certain operating pressures and increase costs and costs. However, as the world and China are committed to achieving dual carbon goals, ESG will gradually become a basic requirement for corporate operations. He warned: “If companies do not make efforts in this area today, they may face severe challenges to survival and development in the future.” Therefore, from a long-term perspective, ESG practices are ultimately for a better future for the company.

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