Electronics and appliance specialist retailers will continue to be characterised by heavy discounting over the forecast period. Retailers will continue to rely heavily on seasonal discounts to drive value sales.
Brands in electronics and appliance specialist retailers will continue to face intense competition from internet retailing over the forecast period. Due to the extensive range of products and increasingly affordable prices offered by online retailers, more and more consumers are turning to internet retailing to browse and shop for products.
Current value growth in electronics and appliance specialist retailers is projected to slow down over the forecast period, due to the maturity of consumer appliances in New Zealand. Due to maturity, electronics and appliance specialist retailers will increasingly find that the majority of shoppers are purchasing products for the second and third time.
In 2018, Harvey Norman Holdings continued to lead electronics and appliance specialist retailers in value terms, ahead of Noel Leeming Group, JB Hi-Fi NZ and Appliance Connexion. The company benefits from its well-established brand name and its continued focus on offering an extensive product range at competitive prices.
Similar to 2017, JB Hi-Fi continued to see declining value sales in 2018, due to the intense price competition in the channel. In an effort to achieve a better performance, the brand closed several unprofitable stores and exited the white goods category.
In order to remain competitive, companies are realising that they need to offer extra services. Leading brand Harvey Norman, for example, offers troubleshooting support, price guarantees and extended warranties.
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This industry report originates from Passport, our Retailing market research database.