After a few years of strong market growth of 4.5-6.5%, in the 2020-2024 perspective we should expect lower sales dynamics of consumer electronics, household appliances and electronic equipment. According to a new report from PMR, “Retail market of home appliances, electronics and digital media in Poland 2019. Market analysis and development forecasts for 2019-2024″.
The last few years have been very good for this part of the Polish retail market. It has grown at a robust pace, driven by factors such as a boom in housing and home renovations, households upgrading their televisions to larger screen sizes, or smartphone replacement. Additionally, a good economic situation combined with social transfers made Poles willing to use household appliances, audio and video equipment and electronic equipment.
Home appliances and consumer electronics market poised for slowdown
In the horizon of PMR’s forecast until 2024, the declining dynamics of market value growth will be related to the upcoming economic slowdown, which will leave its mark on the residential market and the economic situation in Poland. Moreover, the lack of clear pro-sales trends of new solutions or mass replacement of existing equipment by households will also affect the household appliances, consumer electronics and electronic equipment market.