Executive Summary

Aug 2018
PROSPECTS
Crime rates could benefit the performance of home audio and cinema

According to the NGO Observatorio Venezolano de Violencia (Venezuelan Observatory of Violence), Venezuela registered 89 violent deaths per 100,000 inhabitants in 2017, which translated into 26,616 victims and kept the country in second place in the list of the most dangerous countries in the world. Over the review period, there was a strong emerging trend amongst Venezuelan consumers to have as many amenities at home as they could afford, as going out remained expensive and people stayed at home more often due to the high rate of street crime.

Design within home cinema and speaker system continues to be an important attribute

Consumers have focused on design, in particular on smaller-sized speakers in stylised shapes, which occupy less space at home and are available in new colours and finishes to provide a decorative element in the home. Younger consumers seem to be attracted to sophisticated products with more-compact designs, such as player docks and small devices that render a high-quality sound experience, both indoors and outdoors.

Electronic and appliance specialist retailers is the most important channel for home audio and cinema

The distribution of home audio and cinema products remained concentrated on electronics and appliance specialist retailers in 2018. Over the review period, formats such as internet retailers emerged and continued to transform the distribution landscape, but remained a niche as of 2018.

COMPETITIVE LANDSCAPE
Sony Latin America loses share in 2018

Sony Latin America owes its leadership to a strong presence in several important categories within home audio and cinema, such as LCD players, analogue TVs and home video. The brand is well known among consumers and is a symbol of quality in the country; however, Sony lost volume share within home audio and cinema in 2018, which was as a result of a substantial reduction in its commercial operations in Venezuela due to import restrictions.

International brands lead sales of home audio and cinema

Three international companies dominated sales of home audio and cinema in 2018, occupying the top positions: Sony Latin America was ranked first, followed by Samsung Electronics de Venezuela and Panasonic de Venezuela. Products under their brands are being imported to Venezuela, not only by authorised distributors or the companies themselves but also by many small retailers that bring in the products from the US, China and Panama to supply their own stores.

Innovation is absent within Venezuelan home audio and cinema

A limited ability to guarantee a presence in stores is anticipated to be the main negative influence on growth and innovation within home audio and cinema over the forecast period. Most players will continue to focus their efforts on dealing with the complex regulatory environment, whilst only selected products will receive support.

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Home Audio and Cinema in Venezuela

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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 Venezuela 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 Venezuela, our research will save you time and money while empowering you to make informed, profitable decisions.

The Home Audio and Cinema in Venezuela market research report includes:

  • Analysis of key supply-side and demand trends
  • Detailed segmentation of international and local products
  • Historic volumes and values, company and brand market shares
  • Five year forecasts of market trends and market growth  
  • Robust and transparent market research methodology, conducted in-country

Our market research reports answer questions such as:

  • What is the market size of Home Audio and Cinema in Venezuela?
  • What are the major brands in Venezuela?
  • What is the growth rate for Home Cinema and Speaker Systems?

Why buy this report?

  • 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

This industry report originates from Passport, our Consumer Electronics market research database.

Home Audio and Cinema in Venezuela - Category analysis

HEADLINES

PROSPECTS

Crime rates could benefit the performance of home audio and cinema
Design within home cinema and speaker system continues to be an important attribute
Electronic and appliance specialist retailers is the most important channel for home audio and cinema

COMPETITIVE LANDSCAPE

Sony Latin America loses share in 2018
International brands lead sales of home audio and cinema
Innovation is absent within Venezuelan home audio and cinema

CATEGORY DATA

Table 1 Sales of Home Audio and Cinema by Category: Volume 2013-2018
Table 2 Sales of Home Audio and Cinema by Category: Value 2013-2018
Table 3 Sales of Home Audio and Cinema by Category: % Volume Growth 2013-2018
Table 4 Sales of Home Audio and Cinema by Category: % Value Growth 2013-2018
Table 5 NBO Company Shares of Home Audio and Cinema: % Volume 2014-2018
Table 6 LBN Brand Shares of Home Audio and Cinema: % Volume 2015-2018
Table 7 Distribution of Home Audio and Cinema by Channel: % Volume 2013-2018
Table 8 Forecast Sales of Home Audio and Cinema by Category: Volume 2018-2023
Table 9 Forecast Sales of Home Audio and Cinema by Category: Value 2018-2023
Table 10 Forecast Sales of Home Audio and Cinema by Category: % Volume Growth 2018-2023
Table 11 Forecast Sales of Home Audio and Cinema by Category: % Value Growth 2018-2023

Consumer Electronics in Venezuela - Industry Overview

EXECUTIVE SUMMARY

Macroeconomic environment and high prices continue to deter growth
If prices skyrocket, who is buying consumer electronics in Venezuela?
Multinationals continue reducing their operations
Online sales are gaining ground in consumer electronics
Consumer electronics to continue on a downward trend over the forecast period

MARKET DATA

Table 12 Sales of Consumer Electronics by Category: Volume 2013-2018
Table 13 Sales of Consumer Electronics by Category: Value 2013-2018
Table 14 Sales of Consumer Electronics by Category: % Volume Growth 2013-2018
Table 15 Sales of Consumer Electronics by Category: % Value Growth 2013-2018
Table 16 NBO Company Shares of Consumer Electronics: % Volume 2014-2018
Table 17 LBN Brand Shares of Consumer Electronics: % Volume 2015-2018
Table 18 Distribution of Consumer Electronics by Channel: % Volume 2013-2018
Table 19 Forecast Sales of Consumer Electronics by Category: Volume 2018-2023
Table 20 Forecast Sales of Consumer Electronics by Category: Value 2018-2023
Table 21 Forecast Sales of Consumer Electronics by Category: % Volume Growth 2018-2023
Table 22 Forecast Sales of Consumer Electronics by Category: % Value Growth 2018-2023

SOURCES

Summary 1 Research Sources