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Electrical and electronic goods market negative in January–February 2024

The sector's turnover amounted to 467 million euros in the two-month period

The market for electrical and electronic goods is under pressure, according to GFK’s data for January-February 2024, as there are no purchase subsidy programs, which confirms that only subsidized consumption is now possible in Greece, since high prices continue to erode incomes.

More specifically, the sector’s turnover amounted to 467 million euros in the two-month period, recording a negative sign both in value and in pieces, at -9.7% and -1.8% respectively. With reference to the individual product categories, white goods moved downwards (22.2%) with the biggest decline (57.6%) in refrigerators, freezers and air conditioners.

According to GFK analysts, this development was expected since there is no longer any subsidy program such as the “Recycle-Change Device” that existed until October 2023 and subsidized the sales of white appliances, refrigerators-freezers and air conditioners, which they hold leading shares in the entire market and mainly concern premium expensive products, with a large profit margin.

For this very reason, based on the estimates so far, the market is expected to remain negative for the entire semester, since the remaining categories of electrical and electronic goods, despite the fact that they moved upwards in the two months, cannot cover the losses of sales in white goods and air conditioners.