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Learn moreOct 2020
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COVID-19 has had a minor negative impact on consumer electronics, stemming from both supply side disruptions and changes in demand patterns.
On 7 April, Singapore implemented its Circuit Breaker (CB) measures, under which people were only allowed to go out for essential shopping, such as groceries, and exercise, and only essential businesses, such as grocery stores, markets, selective restaurants for takeaway only, government bodies and infrastructure-related businesses, remained open. The authorities announced that, without any unforeseen spikes, CB was scheduled to be lifted on 1 June.
Samsung and Apple continue to lead the consumer electronics market with a joint share of 45%, but are facing increasing pressure from smaller companies, with their joint share falling from 50% in 2019. While both have lost some share to companies active in the buoyant computer peripherals category, the real threat comes from a raft of low priced players such as Xiaomi, Oppo and Huawei.
With electronics stores closed down during the circuit breaker period, 2020 saw a minor shift to online purchases, which has increased its share of total sales from 11% in 2019 to 15% in 2020. As the only retail option available during the circuit breaker period, e-commerce showed significant growth in sales, and this was boosted as e-commerce brands such as Shopee also initiated online sales and bundling offers to generate sales.
The impact of COVID-19 is expected to be short-lived, with a partial recovery in growth expected in 2021 followed by a spike in 2022 as pent up demand is fully released. Most categories will return to their prior patterns by late 2022.
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Overview
Discover the latest market trends and uncover sources of future market growth for the Consumer Electronics industry in Singapore with research from Euromonitor's team of in-country analysts.
Find hidden opportunities in the most current research data available, understand competitive threats with our detailed market analysis, and plan your corporate strategy with our expert qualitative analysis and growth projections.
If you're in the Consumer Electronics industry in Singapore, our research will save you time and money while empowering you to make informed, profitable decisions.
When you purchase this report, you also get the data and the content from these category reports in Singapore for free:
The Consumer Electronics in Singapore market research report includes:
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Why buy this report?
This industry report originates from Passport, our Consumer Electronics market research database.
Gain competitive intelligence about market leaders. Track key industry trends, opportunities and threats. Inform your marketing, brand, strategy and market development, sales and supply functions.