Consumer Electronics to near EUR 700 Billion in 2011

Thursday, May 12th, 2011

International, Consumer Electronics

Jürgen Boyny, global director for consumer electronics at GfK Retail and Technology, has shown that EUR 668 billion will be spent on consumer electronics worldwide in 2011, with Europe being the number 1 region in revenue. Speaking at the IFA preview event, he discussed what will be the major trends.

According to Boyny, connectivity is set to thrive this year and will be helped by Flat TV’s and the global sales of 3D televisions reaching 12 million in units – an increase of more than factor 6 compared with 2010.

Boyny also stated that this year will be “the year of the Smartphone”, forecasting they will make up 16% of spending’s for electronic products worldwide. Furthermore, he expects a surge in the sales of Tablet PC’s, estimating they will account 3% of the market with mobile PC / notebooks remaining popular, accounting also 16% of purchases.

Additionally, fast price transparency and the growing number of internet users is to become a challenge for traditional brick and mortar retailers i.e. high street stores without an online presence. 13.6% of the Technical Consumer Goods revenue in Europe was generated via web sales last year.