Electronics and Appliance Specialist Retailers in Singapore

PROSPECTS

Electronics and appliance specialists records low growth

Retail sales record low growth in 2019 due to the weak economy and rising threat from cross-border e-commerce. As Singapore experiences underwhelming economic growth and the looming recession, consumers tend to be more conservative in their electronics and appliance purchases.

Electrical appliances to be collected for e-waste recycling

As environmental concerns are gaining importance, Ministry of Environment and Water Resources (MEWR) will implement a mandatory electrical and electronic waste management system by 2021. Singapore generates about 60,000 tonnes of e-waste every year, and it is expected to increase with technological advancement and rising affluence.

Physical retail stores still favoured for pricier appliances

Despite the growing e-commerce for electronics and appliances, consumers here are still observed to be more comfortable making heavy purchases through physical retail shops. Consumers feel that huge investments in such products would be more reassuring to be done through established retailers as there are aftercare services provided and more assurances on quality.

COMPETITIVE LANDSCAPE

Harvey Norman excels with premium stores

Despite outlet closures in the last year, Harvey Norman was still able to sustain growth in 2019. Its flagship store in Millennial Walk continues to register strong sales performance which helped to offset sluggish sales in other smaller format Harvey Norman stores.

Gain City targets younger audience

As the demographics and demands of consumers for electronics and appliances are evolving, Gain City has tried to include the younger demographic as part of its target audience. Gain City is hosting Singapore’s first talent search for social media influencers to be on platforms such as TV, social media, outdoor and radio.

Challenger still leads but with sluggish sales

Challenger remains the leader in electronics and appliance specialists partly due to its large number of outlets. Challenger has plans to open new outlets as it has seen a rise in consumers requesting more high-end products.

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