Market research on the consumer electronics industry. Standardise...
Market research on the consumer electronics industry. Standardised and cross-comparable total market sizes, and share data, distribution and industry trends and market share ​category level information.
Sales of consumer electronics were negatively impacted as consumers cut down on discretionary purchases as prices of electronics products escalated despite the economic uncertainties.
Consumers have reduced their discretionary purchases, owing to economic uncertainties and high inflation. Early projections by manufacturers proved to be overly optimistic, as sales of consumer electronics have declined further.
Sales of consumer electronics are projected to undergo a V-shaped recovery, following a 5% decline in value terms in 2020. As consumers become accustomed to the new normal, sales are forecast to return to growth in 2021.
Sales of consumer electronics are projected to turn positive in 2021 after consumers’ sentiment was badly affected by the pandemic. However, a full recovery is only expected in 2022 as sales exceed pre-pandemic levels.
Sales of consumer electronics are projected to make a full recovery in 2022 as they exceed the pre-pandemic level. As the world moves into the new normal, restored consumer confidence in income stability, rising vaccination levels across markets, and…