New Consumer Goods market report from Business Monitor International: "Venezuela Consumer Electronics Report Q3 2014"
Boston, MA -- (SBWIRE) -- 06/13/2014 -- The push by the government to implement the 'fair price' law in H114, which restricts vendor margins to 30%, has worsened an already weak short - term outlook for the Venezuelan consumer electronics market . The law adds to a hostile business environment and exacerbated existing challenges from currency weakness, and economic, political and security risks that are weighing on purchasing power and consumer confidence. Taking these factors into consideration, BMI forecasts a contraction in the consumer electronics market in 2014 , with all three market segments affected , albeit to different degrees . As the economy is stabilised we believe there is considerable potential in the Venezuelan market , with vendors having opportunities as a result of low device penetration in key categories such as smartphones, tablets and flat-screen TVs .
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Headline Expenditure Projections
- Computer Hardware Sales: USD890mn in 2013 to USD756mn in 2014, -15% in US dollar terms. Forecast downgraded last quarter in the wake of the devaluation of the bolivar and domestic economic and security risks, exacerbating a decline in desktop and notebook sales.
- AV Sales: USD1.10bn in 2013 to USD1.0bn in 2014, -8.4% in US dollar terms. Forecast in US dollar terms unchanged, with demand for flat-panel TV sets hit by currency weakness.
- Handset Sales: USD1.1bn in 2013 to USD1.1bn in 2014, -2.1% in US dollar terms. Forecast in US dollar terms downgraded, but strength of local manufacturing in handsets and operator subsidies will help to absorb some of the impact of devaluation, resulting in stronger performance compared with the other consumer electronics segments.
Key Trends & Developments
The Venezuelan market presents a range of unique challenges for vendors, with a hostile business environment and economic uncertainty. The latest potentially disruptive policy was announced in 2014 through the 'fair price' law, which limits profit margins in the country to 30%....
The Venezuela Consumer Electronics Report has been researched at source and features latest-available data covering both the manufacture and sale of consumer electronics products, critically analysing - and forecasting - the market dynamics affecting each sub-sector, including audio-visual, computers, mobile handsets, gaming and automotives electronics. Furthermore, the report analyses the domestic and global economic trends driving device demand and provides company rankings and competitive landscapes covering leading multinational and national consumer electronics companies and analysis of latest industry news and trends in Venezuela.
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