Home audio and cinema has been suffering heavily from the consumer perception that the category is not essential for the visual experience, often being considered part of a niche culture amongst high-income cinephiles. This makes the category struggle to expand and to gain space in a country with limited incomes, such as Brazil.
Due to the high prices in the category, as well as the average consumer seeing little added-value, it is believed that these are luxury products, and investing in home audio and cinema products is associated more with a niche consumer group. This means that even during economic recovery, as started to be seen in 2021 (Brazilian GDP in 2021 is set to be 14% at current prices), the category will be limited to a niche market, especially as unemployment rates continue to be high.
Another important factor preventing expansion and growth in the category is how new products can deliver good audio experiences and offer notable competition for home audio and cinema products. This makes the average consumer able to experience good audio experiences through other products, at least for those outside of music and cinema niches.
The electronics industry has been suffering from a global shortage of components, such as microprocessors, LCD screens and sound and memory cards, which has directly affected the supply chain within home audio and video. This situation is likely to prevail in the short-term, forcing players to putting effort into advanced supply chain strategies.
The dynamic growth in the share of e-commerce during 2020 was no surprise, due to the closure of non-essential retailers due to the pandemic, but its momentum has continued into 2021 and gained importance, which creates new demands on companies. Share of shelf is important in the online arena, similar to in physical points of sale.
2020 presented a new dynamic for many consumers and their lives: it was about more than just a roof over their heads. This “new” perception made consumers more aware of their surroundings and needs, and started to change consumption patterns.
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Understand the latest market trends and future growth opportunities for the Home Audio and Cinema industry in Brazil 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 Home Audio and Cinema industry in Brazil, our research will help you to make informed, intelligent decisions; to recognise and profit from opportunity, or to offer resilience amidst market uncertainty.
This report originates from Passport, our Home Audio and Cinema research and analysis database.
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