consumer electronics market overview
in association with GfK Consumer electronics market in 2010
2010 was a year of mixed fortunes for consumer electronics. Although the sales of television saw a disappointing performance, the latest technologies, such as 3D and internet connectivity, sustained the demand for the products featuring them, comments Nick Simon, GfK Account Director, Consumer Electronics.
There were conflicting trends at the end of 2009. On the one hand, the global financial crisis had had a predictably adverse effect on retail sales, resulting in a downward trend for CE total turnover, but we had watched in awe as the total TV market cleared ten million unit sales for the first time ever. This latter phenomenon did create inevitable difficulties in
Nick Simon
2010. A tally of ten million sales in 25 million households made a similar total in 2010 highly unlikely, and thus it proved. In addition, national morale did not seem to receive the same boost from a change in ruling party (parties) as had been the case thirteen years before when Labour swept back into power, particularly because the year thereafter was dominated by actual or promised cuts in spending and job losses with the threat of more to come.
There were echoes of 1997’s post-election spending boom in May and June last year but there the similarities ended, because these were the only two months to show increases against their 2009 equivalents, thanks to the World Cup. Reduced sales in each of the remaining six months of the year meant year end turnover was down 6.7%, still accounting
The decreasing share of CE turnover in the independent channel resulted from the continued decline of market average prices in all CE products that favoured supermarkets and other generalists
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for more than £5.5 billion and maintaining relative stability compared to December’s –14.5%, which was too steep a decline to be explained away by that month’s occasionally severe snowfalls
Traditional and online retailing Our 2010 survey of independent retailers confirmed our impression at the beginning of
IndependentElectricalRetailer 10 BusinessBook2011
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