Gfk: negative trend for Tech and Durables sectors


IFA 2023 was the occasion for GFK experts to present the recent sector trends. According to the company’s data, Tech and Durables products (T&D) are recording a negative trend. The sector closed the first six months of 2023 with a value decline by -6.3% to 390 billion US dollars compared to the same period last year. Looking ahead to the full year results, GfK forecasts value change of -3.4 percent overall, due to ongoing market saturation and slowing demand.

«Within the overall sale – commented Nevin Francis, GfK expert for the T&D industry -, traditional retail regained market share, while online rebalanced after a surge in share during peak sales months. 35 percent of global T&D sales were made online in the first half of 2023, down 5 percent from last year. While this slight drop does not disrupt the long-standing trend toward omnichannel retail, it does make the need for an omnichannel strategy more important than ever.»

Looking at specific segments data, GfK reveils that revenues declined by -12% for Consumer Electronics, by 5% for Major Domestic Appliance and by 1% for Small Domestic Appliances. Even Telecom and IT devices recorded a fall in value, respectevely by 5 and 12%.