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Read GfK’s latest State of Consumer Technology and Durables report to discover:
The latest insights on how customer behaviour is changing
Reliable market data to make winning decisions
The five crucial actions business leaders need to take now
50
100
+9
90
Innovate in growing segments to boost market share
Brands that did not invest in innovation
2020 baseline
Indexed average market share 2021 vs. 2020 baseline
-10
109
5
Source: GfK Market Intelligence: Sales Tracking; 2020-2021
Brands that invested more in innovation
Innovative brands beat out their less innovative counterparts
of global consumers agree that it is important to indulge or pamper themselves on a regular basis
42%
Source: GfK Consumer Life Global 2022
+49%
+6%
+78%
Champion premium features to drive sales
-5%
2021
Premium features sell even during demand deceleration
+28%
4
Total category
2022
+207%
Sales value US$ growth rate YoY for Jan–Jun 2022 and Jan–Dec 2021
-6%
+14%
Source: GfK Market Intelligence: Sales Tracking, International coverage excl. North America
TVs vs. 75+ inch TVs
Premium segment
Vacuum cleaners vs. Robot vacuum cleaners with docking stations
Promotional activity has increased considerably
Source: GfK Market Intelligence: Sales Tracking; international coverage (excl. North America); Jan-Jun 21/22
25%
Share of TVs sold worldwide with a price cut of 5% or more
3
Use promotions to drive consumer demand
43%
H1 2022
Energy efficient smart products are selling more as energy costs rise
+32%
H1 2019
Smart home monitoring
Source: GfK Market Intelligence: Sales Tracking; Europe
Tap into the growing smart device market
+48%
Smart thermostats
Smart LED lamps
2
+102%
Sales value growth in Europe H1 2022 vs. H1 2019
-11%
Spending has seen high growth in Emerging Asia
Tech and Durables sales value H1 2022 vs. H1 2021
Source: GfK Market Intelligence: Sales Tracking; based on non-subsidized prices USD
Emerging Asia
Western Europe
*excluding North America
+15%
Global
1
China
Latin America
Eastern Europe
Capitalize on sales potential in selected markets
Developed Asia
-5%
-5.5%
-8%
-4%
But even in this challenging environment, opportunities exist for brands and retailers to outsmart the competiton.
Seize these five key opportunities to win in Q4 and beyond:
Q1 2022
Share of Tech and Durables purchases by income level
Source: gfknewron Consumer
16%
11%
Medium low
22%
18%
Low
Q1 2019
The share of low and medium income buyers is declining
June 2021
Baseline
Prices are stabilizing due to reduced demand and changing product mixes
Source: GfK Market Intelligence: Sales Tracking; international coverage (excl. North America); average price growth in USD
June 2020
June 2022
+26%
The Tech and Durables market is decelerating following a record high
+7%
Global average price growth vs. Jan 2020
It’s time to take action.
The sector has been rocked by war, inflation and supply chain issues. $24bn in potential sales value has been lost in H1 2022, and consumer demand is waning.
Five opportunities to win in Q4 and beyond
CONSUMER TECHNOLOGY AND DURABLES
No docking station
-14%
Auto charging
Sales value growth H1 2022 vs. H1 2021 for robot vacuum cleaners with:
Dirt extraction and auto charging
-20%
-44%
Wash only
Vacuum and mop robots
Robot vacuums with innovative and multifunctional features are outselling basic models
Source: GfK Market Intelligence: Sales Tracking; Jan-Jun 2022
+79%
+15%
Vacuum only
+15%
Sales units
Source: GfK Market Intelligence: Sales Tracking; APAC
APAC ecommerce performance, week of 18th June 2022
+94%
2019
+138%
The 618 shopping festival is just one example of a promotional event generating demand above pre-pandemic levels
+5 points
-9 points
Change in percentage of consumers who are confident they will be better off in 12 months, 2021–22
-10 points
-6 points
UK
Netherlands
Brazil
Source: GfK Consumer Life Global 2021 and 2022
+11 points
-5 points
India
Consumer confidence is rebounding in some markets ahead of others
South Africa
Belgium
+3 points
Germany
Indonesia
43%
Energy savings
27%
Source: GfK Smart Home Report Netherlands 2021
Increased convenience
Top reasons consumers gave for buying energy efficient smart products
Operating devices from anywhere
39%
Consumers are seeking convenience and savings
-11%
-8%
-4%
Global*
-5.5%
Vacuum cleaners vs. Robot vacuum cleaners with docking stations
TVs vs. 75+ inch TVs
Source: GfK Market Intelligence: Sales Tracking, international coverage excl. North America
-10
