Consumer Electronics

The past few years were characterised by mixed trends with strong growth in new categories, such as wireless speakers or OLED TVs, while many older categories continued their ongoing decline. Some categories, despite still declining, have slowed due to entry of more advanced technology; for example, the decrease in digital camcorders has slowed due to the popularity of action cameras, and in digital cameras the shift to high-quality SLR and compact systems is curbing the sharp drop in the entire category .

 

Internet retailing grows considerably

Electronics and appliance specialist retailers continue dominating consumer electronics, but internet retailing is recording impressive growth. Although many consumers prefer to receive advice from professional salespeople, there is an abundance of information and reviews about products online that is also easily accessible for consumers. After researching products online, consumers often feel confident enough to also purchase them online afterwards. The reduced customs tax on personal import has also encouraged this trend, allowing consumers to purchase electronics at far lower prices from international online retailers.  

Premiumization is expected over the forecast

Consumer electronics is set to continue increasing slowly in volume terms during the forecast period, while value sales increase at a slightly faster rate. Consumers are shifting to higher-quality products in many categories, such as monitors and printers, in which consumers are purchasing more high-definition printers or 3D printers that are far more expensive. Other examples include OLED TVs, which are becoming more popular, as well as convertible laptops which allow more versatile use and are generally higher-priced. As a result of this expected shift to premium products the average unit price will rise, resulting in faster value growth than volume growth.

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