Electronics and Appliance Specialist Retailers in Belgium

PROSPECTS

Competition from online players puts strong pressure on store-based retailers

2018 saw further store closures due to the strengthening presence of online retailers and the ease of buying goods online. The number of closures of independent stores remained high in 2018, while some chains also saw their number of outlets decline significantly.

Demand for consumer electronics is no longer increasing

In 2018, consumer electronics remained a saturated industry, characterised by rapid innovation. As a result, consumer electronics in Belgium has tended to become more of a replacement market than a market which is looking for new customers.

Second-hand market is growing rapidly

2018 saw an ongoing move towards the second-hand market as more consumers were seduced by reconditioned electronics and appliances. Environmental concerns played a role in this, thus benefiting organised players like 2ememain.

COMPETITIVE LANDSCAPE

Consolidation to survive

Electronics and appliance specialist retailers remained a very fragmented channel in 2018, led by Media Markt-Saturn Belgium. In 2018, following the integration of Vanden Borre, Media Markt announced a partnership with Fnac.

New concepts and an omnichannel approach

In order to continue to attract consumers, electronics and appliance specialist retailers must find new ways to improve consumers’ in-store experience. At the end of 2017, Media Markt unveiled a new store concept in Wilrijk.

A fourth player in the telecoms industry

In mid-2018, the Belgian Minister of Telecommunications announced that he was in favour of opening up the telecoms and mobile network market to a fourth player. The entry of a new player will boost investment, accelerate innovation and reduce prices, thus likely giving new dynamism to the telecoms industry over the forecast period.

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