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Electrical and electronic goods market on a negative trajectory

For 2024, the estimates are negative with sales probably dropping by 8%-9% in terms of value

The market of electrical and electronic goods has entered a negative trajectory, as shown by the data in the January-April period, according to GFK.

However, sector representatives are betting on sports events during the summer, which can positively affect the sales of televisions as well as many other electrical and electronic devices supporting home entertainment.

In detail, according to GFK data, in the period January-April 2024 the value of the market reached 863 million euros, down 12% in value and down 6% in items, compared to the corresponding period last year. However, it must be noted that 2023 sales were affected positively by the subsidy program.

For 2024, the estimates are negative with sales probably dropping by 8%-9% in terms of value. However, what is certain is that the industry has faced many difficulties in the last five years. The companies of the sector seem to be trying to find their balance. In particular, the value of the market rose to 2.155 billion euros in 2019, to 2.120 billion euros in 2020, to 2.628 billion euros in 2021, to 2.865 billion euros in 2022 and to 3.219 billion euros in 2023.

In terms of percentage change in the four months between January and April 2024, the value of the electrical and electronic goods market increased by 40% compared to 2019, 58% compared to 2020, 18% compared to 2021, 17% in comparison to 2022.

Compared to 2023, it is down 12% and the bet is if this new decline observed since the beginning of the current financial year is halted and the market manages to turn positive. However, the majority of sector representatives consider it very difficult due to the current situation and consumer distress.