Recently published research from Business Monitor International, "Kuwait Consumer Electronics Report Q4 2013", is now available at Fast Market Research
Boston, MA -- (SBWIRE) -- 10/23/2013 -- Kuwait's consumer electronics market remains one of the most dynamic in the region. Strong sales were reported by retailers during the peak festival shopping season of Ramadan, in July and August 2013; with retailers running promotions on smartphones and other popular items. Spending on digital electronic lifestyle items has stayed robust over the last few years, supported by recurrent salary hikes and handouts, as well as low interest rates and abundant liquidity conditions. We expect these trends to continue over the coming quarters, with the rate of planned purchases of durable goods reaching a record high in May, improving by more than one-third from April. We forecast the consumer electronics market will enjoy growth of 6% over 2013, reaching a value of US$1.1bn. The young, wealthy, computer-literate Kuwaiti population will retain its appetite for top-of-the-range technology products. Key product categories we expect to see success in 2013 are smartphones, tablets and hybrid-laptops running Windows 8, flatscreen TVs and the next generation of games consoles which should be launched late in
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Headline Expenditure Projections
- Computer Hardware Sales: US$393mn in 2012 to US$401mn in 2013, +1.9% in US dollar terms. New form factors such as tablets and ultrabooks will be key growth areas, given the market saturation of desktop computers.
- AV Sales: US$454mn in 2012 to US$484mn in 2013, +6.5% in US dollar terms. Rising incomes, the growing affordability of AV devices and product innovation will drive continued growth.
- Handset Sales: US$196mn in 2012 to US$218mn in 2013, +11.3% in US dollar terms. Mobile number portability (MNP) and the rapid roll-out of 4G services will drive strong growth in the smartphone market.
Risk/Reward Rating: Kuwait's score is 60.2 out of 100. Despite a notable improvement in its CE score due to a stronger country risk outlook, Kuwait has slipped in our rankings. The country has been pushed from second to third in the MEA region in our latest RRR table, placing it behind Qatar and the UAE
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