New Consumer Goods research report from Business Monitor International is now available from Fast Market Research
Boston, MA -- (SBWIRE) -- 01/18/2013 -- BMI expects the China consumer electronics market will grow by around 9% in 2013. We forecast headline consumer spending to grow at 8.0% in 2012 and 2013, which marks a downward revision from our previous forecast of 8.4% for both years. The government's rural consumer electronics subsidy programme should continue to drive flat-screen TV sets and other products and electronic vendors and retailers are expanding and adjusting strategies to take advantage of this opportunity.
Vendors will look to newer technologies such as Smart TVs, LED TV sets and 3D TV sets, to drive sales. Smartphones are estimated to account for above 40% of total handset sales in China, and this share will pass 60% by 2017.
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Headline Expenditure Projections
Computer hardware sales: US$80.3bn in 2012 to US$88.3bn in 2013, +10% in US dollar terms. Forecast downwardly revised in US dollar terms due to macroeconomic factors, following a slowdown in H112.
AV sales: US$77.5bn in 2012 to US$84.7bn in 2013, +9% in US dollar terms. Forecast in US dollar terms unchanged, with the main driver being demand for flat-screen TV sets.
Handset sales: US$42.4bn in 2012 to US$45.1bn in 2013, +7% in US dollar terms. Forecast in US dollar terms downwardly revised, but with strong volume growth of smartphones.
Risk/Reward Ratings: China's score was 61 out of 100. China took 5th place in our latest RRR table, but due to its vast market and rising penetration has potential to rise over time.
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