Consumer and electronics
About the Consumer & Electronics industry
The main consumer electronic products in the industry are vast but generally speaking include; OLED/LED Tvs, cameras, PCs, game consoles, iPads, digital downloads, tablets and mobile phones.
According to a report. The global consumer electronics market valued at around USD 1,172 bn in 2017 and is expected to reach approximately USD 1,787 bn in 2024, growing at a compound annual growth rate (CAGR) of slightly above 6.0% between 2018 and 2024.*
With that being said, looking at the Market value of consumer electronics in the United Kingdom from 2015 to 2020 it shows that in 2018 there were total sales of £18bn.
2019 shows £18bn, whilst 2020 is predicted to be a whopping £19 bn. ** Crazy right?!
Consumer retail is a pretty broad space, kind of like industrials. In consumer retail, you’d cover both hard goods (also known as “durables” – appliances, sporting goods, etc) and soft goods (also known as “non-durables” – mostly ready-to-wear apparel, food, etc)
Retail Trends 2019
Between demand and the rising costs, Retail is an industry that is under pressure. Many retailers worldwide find themselves in an uncomfortable position as far as margin goes and the shift from a store-based past to a digital future has continued in 2019.
- East beats West – From the self-service supermarket all the way through to modern department stores with the development of e-commerce, many of the major innovations in retail have been developed in the West of the US before being exported around the world. Whilst the pace of development in the US and Europe is arguably as fast as it has ever been, the rate of change in the East and particularly China is happening even faster.
- In-store revolution – In the future, we believe there will be fewer quality stores. With smaller portfolios of stores, retailers will be able to invest more to ensure those stores meet the needs of their consumers. During this period of disruption in retail – innovation continues with many retailers taking the opportunity to reconsider the role their physical stores play in delivering the overall customer experience, so by introducing even more technology and development with using more devise, it becomes a more ‘efficient’ way to shop.***
Top 10 UK Retailers in the Electricals Sector:
- Dixons Carphone
- John Lewis
- Shop Direct
Trends and outlook for year 2020 for Consumer Electronics in Retail
Manufacturers’ and Retailer’s hopes have appeared to be looking positive. Sales of autonomous wearable electronics are projected to enjoy a substantial 56% CAGR in volume terms over the forecast period. Products like laptops and LCD TVs are proving to be resilient, as manufacturers invest to reinvent these older technologies.*****
Mid-Market Tech Growth and how we can help
When talking about growth or decline in the technology sector often we are prone to discuss the largest of the tech companies. This is the changing levels of interest that is placed on mid-market businesses and their growth potential.
At Pivotal we believe in giving all companies and Retailers the chance to showcase their products at the forefront of their customers, bringing their brand to life and making sure their products are presented in a highly executed manor, bringing innovation and to boost sales.
With our in-house Business Development team we have many years of experience working in the Consumer & Electronics department, showcasing our client’s exhibition stands, free standing units, visual concepts, counter displays, play tables, product showcases, tech stations, branded bays, gantry units, wall displays and more.
Our sustainable policy reflects that we work hard to exceed that we follow our green footprint the best we can, whilst creating both temporary and permanent displays, we ensure that the materials used are to meet the brief and our client’s specifications.
- Posted by Emma Thorpe
November 20, 2019