IFA International 2019 DAY 1 Edition

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BROUGHT

TO YOU BY

NEWS

2019 MARKET

DEVELOPMENTS

Challenging new market

dynamics… and opportunities as

IFA 2019 opens its gates

This year’s IFA opening

press conference saw Hans-

Joachim Kamp, Chairman of

the Supervisory Board of gfu

Consumer & Home Electronics

GmbH, outlining a highly

challenging market dynamic

facing the sector as this year’s

show opens its gates.

Kamp stated that during 2019, IFA’s key

markets are not developing in lockstep:

“For consumer electronics, the industry

expects global sales of €740bn, a decline

of around 1.8%. In contrast, the global

market for household appliances is growing

strongly. Market researchers expect small

electrical appliances to grow at a pace

of around 9.4% to just under €90bn, while

sales of large electrical appliances will

grow 2.2% to just under €182bn.

A total sales volume of more than one

trillion euros – €1.011tn to be precise

– is forecast for the global market for

technical consumer goods. Despite the

difficult context of trade wars, Brexit

and a global economic slowdown, overall

the global market appears to be stable.

However, all these factors, says Kamp, make

it challenging to reliably forecast future

market developments.

Analysts GfK have released a number of

important surveys in time for IFA. One of

the main findings of the global technical

consumer goods market survey published

this week is that the “significance of

experiences driving purchases and

powering the market is becoming more

important”. The survey names five trends

that are driving markets: performance,

simplification, premium (pamper me),

borderless shopping, and developing

economies.

According to the GfK FutureBuy study,

65% of survey respondents agreed with the

statement: “The consumer feels more in

control than ever before when choosing the

best products”. The same study reveals that

53% of consumers appreciate experiences

more than possessions.

Nevin Francis, GfK expert for the TCG

industry explains: “Key trends like

performance features delivering rich

experiences; products simplifying our

busy lives, and certain premium products,

which are a reflection of the consumer’s

aspirations – are all resulting in rich

experiences. Whatever the reason for

choosing to buy a product, being able

to purchase it on any channel, from any

location at any time of day or night is

equally essential – hence the unstoppable

rise of borderless shopping.”

With its growing order volume, IFA will

continue to drive growth in international

and national markets

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