Red Star Macalline Group Corporation stated that research shows the demand for replacing old appliances is greater than that for home goods, with home goods being driven more by the rigid demand from transactional Property. Regions where subsidies have ended show a phenomenon of consumers waiting and observing. As real estate data improves, the rigid demand from transactional Property combined with Consumer subsidy policies will continue to boost home consumption in 2025. Additionally, the demand for replacing old home goods also needs to be further explored by retailers and brands.