Highest growth comes from information technology category due to demand for laptops and desktops as a result of COVID-19
GfK, a consultancy and research firm, said Turks bought TL 17.2 billion of consumer electronics in Q1. That means consumer electronics industry grew 20.8% as compared to the Q1 2019. All main categories contributed to the growth, added GfK.
Here is the picture of Turkish consumer electronics in Q1:
Telecommunications: Expected increase occurs
The telecom sector grew by 16.1% in the first quarter of 2020 compared to the same period of the previous year and achieved a turnover of TL 7.5 billion. The growth expectation in this period was somewhat below with the effect of Covid-19 in March.
Smart watches and headsets were able to maintain their performance in the previous quarter with double digit turnover growth.
Information Technology: Growth in gaming
The overall IT sector increases 82.4% during the 1st quarter of the year compared to the same period in 2019 and generated 1.9 billion TL revenue.
Compared to the first quarters of 2019-2020, the most growing of all product groups are desktop, visual cams and laptops with the effect of COVID-19.
While the gaming computers shrank in the 1st quarter of 2019, they grew double digits in the same period of 2020.
Office equipment and consumables: CISS continues to grow
Turkey’s OE sector grew by 43.2% in Q1 2020, compared to the same quarter in 2019 and had a value of 168 million TL.
When the first quarters of 2019 and 2020 are compared, growth comes from printing devices with double-digit increase rates.
CISS segment had two digits growth in 2019 due to price / performance ratio and continue to grow in the first quarter of 2020.
Major domestic appliances: Growth is observed in all product groups
In the first quarter of 2020, sector, which reached approximately 4 billion TL, had a growth by 15% compared to the same period of last year. Almost all product groups of major domestic appliances recorded double-digit growth rates compared to Q1 2019, while the tumbledryer product group has the highest growth rate. Regarding washing machine product group, 9 KG has 20%, and 10 KG+ has 88% growth rate in 2020 compared to 2019 in terms of value. For the cooling product group, 500 LT+ products 21% growth , while the 300 LT+ freezer category 19% growth was observed compared to the Q1 2019.
Small domestic appliances: Innovation brings growth
The SDA sector grew by 14% in Q1 2020, compared to the same quarter in 2019 and reached 1.6 billion TL.
Innovations in the technology led the increase in the variations of products. Consumers seek for diversity among the basic needed products.
Hair stylers and hot beverage makers are the product groups which grew most with the growth of hot air stylers, filter coffee machines and espresso machines.
Consumer electronics: UHD TV and bigger sizes continues growth trend
Consumer electronics sector recorded 2 billion TL in the first quarter of 2020 and achieved 17% growth compared to the first quarter of 2019.
All categories, except audio home systems and video player/recorder, recorded growth compared to the first quarter of 2019, while TV category grew 18% in terms of value.
UHD and Smart TV’s continued to show double-digit growth rates in the first quarter of 2020. 60+ inch display size had the highest growth rate in PTV product group.
GfK Temax tracks the sales of consumer electronics in 40+ countries. The findings are based on GfK’s retail panel, comprising data from around half a million retail outlets worldwide.
P.S: $1=6.85 TL. Turkish Lira fluctuates against USD.
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