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Learn moreOct 2020
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The improvements in the sound definition technology and prices, together with the portability and low cable dependency, of products such as wireless speakers and soundbars, have been negatively impacting the unit sales performance of hi-fi systems, which has been recording the strongest overall declines in home audio and cinema in 2019 and 2020, driving the overall fall in sales in home audio and cinema as a whole. This trend also continues to have repercussions for categories that are becoming increasingly niche, such as audio separates and high-end cable speakers.
For a category in which the physical contact with the product plays an important role in the Chilean customer’s decision-making process when making purchases, the closure of physical stores during the social unrest in the final quarter of 2019 and during the COVID-19 pandemic in 2020 had a negative impact on the home audio and cinema performance. However, the increasing time spent at home during the pandemic will benefit products that are able to connect to streaming services and offer an entertainment option to house-bound consumers, such as those in home cinema and speaker systems, which will continue to see positive retail volume growth in 2020.
Sold as standalone devices or as a bundle with relatively minimally-sized speakers and subwoofers, soundbars are on the rise within the home cinema and speaker systems product offering in Chilean sales channels. Enabling Bluetooth connectivity and integration with other types of technology, such as Android TV, this product is gaining in importance and increasingly substituting other home theatre systems, as it takes up less space, has fewer cables and offers an improving performance in terms of definition and power, simulating the effect of multiple speakers.
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Overview
Discover the latest market trends and uncover sources of future market growth for the Home Audio and Cinema industry in Chile with research from Euromonitor's team of in-country analysts.
Find hidden opportunities in the most current research data available, understand competitive threats with our detailed market analysis, and plan your corporate strategy with our expert qualitative analysis and growth projections.
If you're in the Home Audio and Cinema industry in Chile, our research will save you time and money while empowering you to make informed, profitable decisions.
The Home Audio and Cinema in Chile market research report includes:
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This industry report originates from Passport, our Consumer Electronics market research database.
Gain competitive intelligence about market leaders. Track key industry trends, opportunities and threats. Inform your marketing, brand, strategy and market development, sales and supply functions.