According to GfK Temax the first quarter of the year recorded goods results for Technical Consumer Goods in the Western European markets, that closed the period with a turnover increase of 1.7% and a total value of almost 52.5 billion euro. Major and small domestic appliances show a positive trend. The first sector recorded a growth of 1.7%, reaching 8.4 billion euro, while small appliances totalized 4.4 billion, with a value growing by 4.2% compared to the first quarter 2018. Information technology and telecommunication also closed the first three months of the year with revenues increase respectively of 3.9% and 3.1%.
It was not a good period, instead, for Consumer Electronics and Photography, that recorded a negative trend: the first segment saw a fall of 5.2%, while Photography products value recorded a decrease of 10.3%. GfK has identify some global trends that are driving the Technical Consumer Goods sector. The first remains the big role of experiences, that are increasingly becoming a key purchase factor for consumer. In order to deliver the borderless shopping experience, digital retail technologies are becoming ever more important.
In addition to experience, people are looking for simplification. According to GfK experts: “consumers are prepared to pay more for products which make their lives easier. Connected devices can deliver on that need and simplify an over-complex life. Voice assistants set the next frontier of connectivity.” Premium products finally are at the center of people interest. Consumers increasingly agree that “It is important to indulge or pamper myself on a regular basis.” Aspirational products satisfy this need to express identity. They come at premium price and pamper the “me”.
