Electronics and appliance specialist retailers remains the firm winner under the effects of the pandemic in 2021. The increased home working practices and extended leisure time at home have encouraged consumers to upgrade their computer set up make their work and leisure time more productive and enjoyable.
The pandemic has led to several problems in terms of raw material shortages as well as transportation and logistics issues. Thus, there have been fear of shortages in the electronics and appliances industry due to a scarcity of components that could lead to fewer items being produced.
Due to the onset of COVID-19, special measures were taken by electronics and appliance specialist retailers to adapt to the crisis. For example, many retailers adopted a no returns policy for purchased goods in 2020 whilst leading player Elkjøp Norge tested special opening hours for the elderly in selected stores.
From 2022 onwards, electronics and appliance specialist retailers is set to return to a moderate level of current retail value growth that will gradually decelerate over the forecast period. Nevertheless, some services adopted due to the pandemic are set to stay as retailers have found that they continue to greatly appeal to their customers.
Despite the imminent expected arrival of Amazon in Norway in the forecast period, this will have limited impact on the operations and sales of electronics and appliance specialist retailers. The entry of Amazon into Sweden has shown only small demand for large electronic and appliances items, with many customers prefer to visit specialist stores and receive professional advice before making big-ticket purchases.
Although hypermarkets have proved to be strong competitors against many non-grocery retailers during the pandemic, hypermarkets are unlikely to gain strong traction against electronics and appliances specialist retailers. For one thing, the small number of hypermarket outlets in Norway (only 31) mean that visiting hypermarkets is less convenient than visiting category outlets (there are over 1,300 electronics and appliances specialist retailers in the country with each of the two leading players owning over 125.
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Understand the latest market trends and future growth opportunities for the Appliances and Electronics Specialists industry in Norway with research from Euromonitor International's team of in-country analysts – experts by industry and geographic specialisation.
Key trends are clearly and succinctly summarised alongside the most current research data available. Understand and assess competitive threats and plan corporate strategy with our qualitative analysis, insight and confident growth projections.
If you're in the Appliances and Electronics Specialists industry in Norway, our research will help you to make informed, intelligent decisions; to recognise and profit from opportunity, or to offer resilience amidst market uncertainty.
Appliances and electronics specialists are chained or independent retail outlets with a primary focus on selling one or more of the following categories: domestic electrical appliances, consumer electronics (including mobile phones), and/or computers and peripherals. Appliances and electronics specialists value sales excludes revenues derived from telecoms service plans and top-up cards. Example brands include Apple, Best Buy, and Gome.See All of Our Definitions
This report originates from Passport, our Appliances and Electronics Specialists research and analysis database.
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