I MARKET TRENDS I GfK
I MARKET TRENDS I GfK Briefing: How Technical Consumer Goods withstand crises IFA Innovations Media Briefing 2022 panel examined diversity as a force-multiplier for innovation Alexander Dehmel, Head of Market Intelligence Germany and Austria at GfK, presented GfK's recent research on the question: What impacts consumers in early 2022? In one of the opening discussions at this year's Innovations Media Briefing, a panel discussed the importance of diversity within the consumer and home electronics industries. Panel host Lea Jordan, Head of Marketing and co-founder of techtalk.travel, speaking at the City Cube in Berlin, said there was clearly room for improvement when it comes to diversity. She pointed out, there are simply not enough women working in the industry and most CEOs are male. Her concerns were seconded by Carine Lea Chardon, CEO of ZVEI-association for consumer electronics and media networks, who said: “We are way behind the average in Germany when it comes to women in the industry". Ms Chardon suggested having more role models and childcare services, as well as mentoring programmes could help narrow the gender gap. Vivien Richter, founder and Chief Vision Officer at seatris.ai, does not believe a women quota is necessary, but believes giving opportunities to migrant workers could help address the shortage of staff in German companies. Also, older employees should be seen as part of the company’s success, rather than a burden. In contrast, Lisa Meissner, co-founder and CFO at Mersor, drawing on her experience in the male-dominated finance sector, went further saying: “Yes, we need a women's quota”, but without the label. She also pointed out there are many other ways of integrating women into a work environment, such as using gender-conscious language. Ms Chardon concluded by saying it was becoming more and more difficult to find staff for enterprises, therefore diversity is not simply a trend, but above all an opportunity The studies indicate that there are a range of drivers that impact consumers. Among said drivers is the war in Ukraine, rising energy costs and supply shortages in fast-moving consumer goods, raw material and supply chain issues, as well as inflation reaching a long-time high. Of course, still affects people and businesses, for example by causing shortages of staff. Dehmel also argued that trust in the economy has dwindled. In general, the economy is facing a crisis, except for Technical Consumer Goods. Dehmel explained that this sector has always grown in the past, 2022 is no exception. The Covid-19 crisis has led to an increase in electronic goods that is still lasting. Dehmel explained that retail has grown during the last year, with technical superstores and chains seeing handsome profits. His conclusion: in every crisis there is an opportunity. Brands which invest and innovate during a crisis are better off than brands that reduced their investments. Dehmel suggests the growing demand for electronic goods during the pandemic was partly driven by people's desire to improve their home environment. Growth was also seen across other market segments and products, such as hot air fryers which jumped 36%, hot air stylers 20% and hair dryers 10% . Now, with the global situation improving, a growing number of people are turning towards styling products. This shows that even when faced with challenges, there are opportunities for companies who invest in improvements that save energy, money and time for consumers IFA INTERNATIONAL • MONDAY 29 TH AUGUST 2022 13
