The COVID-19 crisis has triggered a huge shift in consumer spending, which directly impacted the consumer electronics industry. With reduced incomes in times of economic turmoil, consumers choose to buy necessities such as groceries and household goods and avoid non-essential, big-ticket purchases like LCD TVs and new smartphones.

According to data presented by Finaria, the European consumer electronics industry revenue is expected to amount to $213.8bn in 2020, a $14.2bn plunge amid the COVID-19 outbreak.

PC and Phone Sales to Witness the Biggest Revenue Drop in 2020

The European consumer electronics segment has witnessed a steady growth in recent years, with revenues rising from $208bn in 2012 to $227.9bn in 2019, revealed Statista data.

However, with supermarkets and showrooms of leading brands shut down during the COVID-19 lockdown and Europeans prioritizing their spending, the sales of consumer electronics products slumped in the first half of 2020.

Despite the global increase in demand for computers and laptops due to remote working and distance learning, the revenue of the computing segment is expected to drop by 6.3% YoY to $55.9bn in 2020.

Statistics show that phone sales in Europe, including landline phones, mobile phones, and smartphones, is expected to generate $106.2bn in 2020, a 6.3% decrease amid the COVID-19 outbreak.

TV, radio, and multimedia segment are set to witness a 6.1% drop year-over-year, with revenues falling to over $49bn in 2020. TV peripheral devices market follows with $1.8bn in sales, 1.7% less than a year ago.

The average revenue per user in the European consumer electronics segment is expected to drop by 6.3% YoY to $252.1 in 2020. In the next five years, this figure will jump to $282.3.

Statista data revealed that Europe’s consumer electronics industry is expected to recover in the next two years, with revenues rising to over $230bn in 2022. By the end of 2025, this figure will touch almost $240bn.

Online Sales to Generate One-Third of Revenues in 2020

With millions of consumers shifting from brick-and-mortar stores to online shops, e-commerce became the key driving factor of the consumer electronics market in 2020.

In 2019, online sales generated 29% of the combined revenue in the European consumer electronics segment. This figure is expected to rise to 33% in 2020. By 2023, online shops will account for 37% of all consumer electronics sales in Europe.

Germany represents the largest European consumer electronics market, with 87 consumer electronics chains and $29.3bn in revenue in 2020, an 8.1% drop year-over-year.

The United Kingdom ranked second with 61 consumer electronics chains and $28.8bn in sales, 2.7% less than a year ago. France and Spain follow with $24.9bn and $10.8bn in revenue in 2020, respectively.

condividi l'articolo sui social

Commenta per primo questo articolo

    Lascia un commento

    Il tuo indirizzo email non sarà pubblicato. I campi obbligatori sono contrassegnati *

    LIMITAZIONI DI RESPONSABILITA'

    I CFD sono strumenti complessi e presentano un rischio significativo di perdere denaro rapidamente a causa della leva finanziaria. Il 74-89 % dei conti degli investitori al dettaglio subisce perdite monetarie in seguito a negoziazione in CFD. Valuti se comprende il funzionamento dei CFD e se può permettersi di correre questo alto rischio di perdere il Suo denaro. Tutte le informazioni che troverete su Finaria.it sono pubblicate solo per scopi informativi. Noi non diamo assolutamente alcuna garanzia riguardo la precisione e l'affidabilità di queste informazioni. Qualsiasi azione prenderete sulla base delle informazioni fornite dal nostro sito è rigorosamente a vostro rischio e pericolo e lo staff di Finaria non sarà responsabile di eventuali perdite e/o danni in relazione all'uso delle informazioni o notizie fornite dal nostro sito web.


    DIRITTO D'AUTORE

    Tutti i contenuti testuali su Finaria sono protetti da copyright e dalle leggi sulla proprietà intellettuale. L'utente non può riprodurre, distribuire, pubblicare o trasmettere qualsiasi contenuto, frase, immagine senza indicare il sito web www.finaria.it come fonte. Finaria non rivendica il copyright sulle immagini usate sul sito web, tra cui loghi, immagini e illustrazioni varie.