Americas and Europe Electrical and Electronics Retailing 2014-2019 Market Trends, Size, Share, Growth, Research and Development
Deerfield Beach, FL -- (SBWIRE) -- 09/03/2015 -- Electrical and Electronics Retailing in Americas, 2014-2019
The US leads the Electrical and Electronics retail market in the Americas, with total sales of US$278.8 billion. The country witnessed slow growth over the past five years, impacted by the economic crisis and subsequent consumer frugality. The US Electrical and Electronics market is forecast to expand by 3.8% during 2014-2019, influenced by returning economic growth and strong sales growth over the online channel.
Latin American countries such as Peru, Chile, and Brazil are growing at a higher rate due to stable economic and political conditions, increased disposable income, and high growth in domestic demand, driven by the growing affluent and middle class population. A wider choice of products, lower prices, comfortable delivery options, and favorable return policies are helping the growth of online channels in the region, which is causing specialist retailers to continue losing their share to the online channel in the Electrical and Electronics market.
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- Improving economic conditions, retailers adopting omni-channel strategies, and the launch of innovative products such as wearable devices will help the Americas to achieve 4.3% growth during 2014-2019
- Showrooming, a concept wherein consumers visit the traditional bricks-and-mortar retail store to view the product physically, and then purchase it online, has become popular in the US
- Online will continue to be the fastest-growing channel at a CAGR of 10.6%, while Electrical and Electronics specialist retailers struggle to remain profitable. Specialist retailers will dominate electrical and electronics sales in the Americas, but will record minor growth of 0.9% on the back of omni-channel and other strategies
- The US is the largest contributor to global Electrical and Electronics sales in the Americas and is expected to expand at a CAGR of 3.8%, followed by Brazil which is growing at a faster growth rate of 7.2% CAGR
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Electrical and Electronics Retailing in Europe, 2014-2019
Smartphones, tablets, and high-value household appliances will fuel growth in the Electrical and Electronics market. Consumer willingness to pay a higher price for innovative and energy-efficient gadgets will contribute to increased retail sales in Europe. Multi-channel shopping is gaining popularity, which is increasing online sales of Electrical and Electronics. Germany will continue to be the largest market in the region.
It is one of the few markets in Europe to register sales growth when the economy was crippled by recession and the Eurozone crisis. Central Eastern European markets, such as Romania, are expected to grow the fastest, while, Electrical and Electronics market in Russia and Ukraine will slow down following the impact of the Crimea geo-political crisis.
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- The European Electrical and Electronics market will reach US$380 billion by 2019, driven by huge demand for smart phones, tablets, and other data enabled devices, and economic recovery in the UK market
- Online will continue to increase its market share and will contribute 29.4% of European sales by 2019, while omni-channel retailing is gaining grounds in the region, where people are utilizing both online and offline channels to research, try, and compare products before making an informed purchase decision
- Germany is the largest contributor to Europe's Electrical and Electronics sales and is expected to expand at a CAGR of 5.8% over 2014-2019
- Another key trend observed in the region was consolidation among major retailers who were planning to expand their market share and remain profitable
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