What is meant by Consumer Electronics
Consumer electronics is a real industry that makes all those home devices that we use daily for communication and entertainment and it can improve and simplify our everyday tasks in leisure and at work, such as smart TVs, PCs, smartphones, video game consoles, printers, smartwatches, but also audio and video systems and increasingly technological appliances.
Size of the consumer electronics market in Italy and the EU
- Consumer electronics is an important sector and a large market: according to data released by GFK, in 2022 in Italy sales of consumer technology reached a total value of 17 billion euros, slightly down by 2,7% compared to 2021, a year of extraordinary post-pandemic performance, of which online sales have reached 26.3% marking an increase compared to 2021 of 5.5%.
- Even more interesting figures across Europe: online sales exceed 100 billion euros with constant growth, greater penetration on the traditional market, and the advent of Marketplaces that have increased the offer to an increasing number of customers.
The Consumer Electronics Marketplace in Europe
The European e-commerce of consumer electronics products continues to grow thanks to the development of the Marketplace, from the most famous eBay and Amazon, absolute leader, to other players specialized in the sector such as Cdiscount, Fnac, Mediamarkt, Bol, Pc Components and others.
These have strengthened their position in the market thanks to their online platforms that enjoy great visibility, and that bring together demand and supply of products and services in a very competitive market.
The Marketplaces as opportunities for business growth and expansion
The Marketplace in Europe is becoming an interesting opportunity for Business to explore new markets with small investments, able to give good returns in revenue and visibility.
Here are some main advantages:
- Access to a large market. We have seen that the size of the European market is important, with constant growth rates, with an increasing customer base.
- Include your offers in a channel with a good reputation. Being able to sell abroad through a channel with high traffic and that enjoys the trust of customers, able to better manage delivery services, returns and after sales. It is definitely an interesting opportunity to start your business in other countries where you are not known.
- Flexibility and scalability. Logistics does not require large investments in warehouses, as you can take advantage of the logistics services offered by the marketplace and manage shipments through them. The costs required to sell products are often proportional to revenue, so easy to monitor.
- Visibility and Branding. Being present on European marketplaces allows companies to increase the visibility of their Brand and to position themselves among the leaders in the sector reaching a large audience by improving the reputation of the brand, through visibility and customer reviews. Visibility can be further improved through advertising and promotional campaigns offered by marketplaces.
- Analysis of data. Marketplaces provide data and analytics on sales, customer behavior and market trends. This information can be used by companies to optimize their marketing and sales strategies.
The European market therefore becomes definitely an interesting opportunity, given its large size, its constant growth and the presence of specialized Marketplace, which are increasingly trusted by customers and offer attractive opportunities for entrepreneurs who wish to diversify sales channels by reaching new markets.