Electronics and appliance specialist retailers saw a current value decline in 2017, with different forces pushing down sales. Sales of consumer electronics were negatively affected by the cancellation of customs taxes on several categories, especially smartphones.
During the forecast period electronics and appliance specialist retailers will struggle to achieve current value growth, mostly due to the shift to internet retailing. Consumer electronics especially are being purchased online more frequently, as consumers can easily compare products and prices online.
The number of outlets was also on the decline in the review period, mainly due to retailers’ ongoing efforts to minimise costs and reduce redundant retail spaces. There is an excess of selling space, with many stores located in close proximity to each other, driving chains to close stores that are not profitable enough.
Electra Consumer Products led electronics and appliance specialist retailers in value terms in 2018, with its well-established brands Mahsaney Hashmal and Shekem Electric, and the recent addition of Mahsaney Hashmal Digital. Electra has been making major changes in its chains.
The competition within electronics and appliance specialist retailers is consolidating. Independent players, which previously suffered from their lack of negotiating power against the large importers, have formed buying groups which allow them to better negotiate supply and prices.
With many stores located in close proximity to each other, chains are closing stores that are not profitable enough. The chain Big Box by Mini Line was closed.
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This industry report originates from Passport, our Retailing market research database.