Consumer electronics continued to record retail volume and current value growth in 2019, although to a lesser extent than in the previous year. This upward trend is expected to continue over the forecast period, as technology advances further and new products adapting to changing lifestyles emerge.
Due to saturation and maturity for most consumer electronics, there is only room for a few product categories to grow, with most product areas seeing volume sales decline in 2019. Computers and peripherals notably witnessed decline in both business and retail volume terms, with the largest decline seen in retail.
Apple enjoyed the lead in consumer electronics in 2018, albeit only marginally outpacing Samsung in terms of sales. However, Apple witnessed retail volume share decline annually over the forecast period, with 2019 being no different.
Internet retailing and electronics and appliance specialist retailers have long been the dominant channels for the purchase of consumer electronics. Electronics and appliance specialist retailers remain significant, as consumers still often prefer to try out products before buying and are keen to seek in-store advice.
Consumer electronics is expected to witness marginal but positive growth throughout the forecast period. Overall sales will be hindered by products viewed as outdated, with in-car entertainment, DVD players and feature phones for example set to register heavy decline.
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This industry report originates from Passport, our Consumer Electronics market research database.