Sep 29, 2022 – Subsequent to the Covid-19 pandemic, which spread from China to the world in early 2020, the retail product trade has drastically changed. Especially the fact that sales became active in the scope of e-commerce and global products became more accessible for everyone were recorded as the initial factors that shape trade. Besides these, the acquisition of new habits such as distance education and conference meetings expanded the usage of technological products while the sales of the devices such as watches, glasses, headphones and phones showed an increase. With the pandemic, the importance of e-commerce in terms of society and economy has been understood, the accessibility and utilization of the internet have increased worldwide, and shopping behaviours have been reshaped.
According to the European E-commerce Report 2021, Western Europe is the strongest region regarding e-commerce endorsement. Compared to the previous year, the endorsement of e-commerce achieved a growth of 64%, while this rate reached 16% in South Europe. This ranking was followed by Central Europe with a percentage of 8 and by North and East Europe with a percentage of 6. Imex Holding, which is one of the biggest companies in Europe in terms of imports, exports and e-commerce, is working hard to meet this expectation that has accelerated in the sector in recent years. The CEO Martin William Edelberg Sorensen has added that the company, which makes retail and mass product trades all over Europe, is one of the most reliable partners for high technology device brands that are especially in the electronics sector and it is expanding into new markets by means of maintaining its growth in the field. This makes it more preferred both in the global market and in the European market, and enhances its profit rates.
WHAT IS THE SHARE OF ELECTRONIC PRODUCTS IN GLOBAL RETAIL TRADE?
Undoubtedly, the Covid-19 pandemic has been a new starting point in many ways. Besides, it enabled the execution of technological developments and digital adaptations in just a few months, which could be completed in many years. With the pandemic, not only lifestyle habits but also existing business models have undergone changes, many sectors have had to make technological developments so as to be able to carry themselves to the world after the digital revolution. With these evolutions which were shaped around the internet as the basis, the sales of required devices for conference meetings, such as headphones and computers, and products that are used in games and social media platforms, such as smartphones, VR glasses and the like reached a record high. Thus, according to the data from Statista, consumer electronics revenues, which is among the most affected sectors by these new behavior patterns, is; a rapidly growing market worldwide. The leader of this market, which is predicted to reach a value of approximately 716.30 billion dollars by the end of 2022, is China, whose year-end market volume is expected to be 291.20 billion dollars.
According to the statements of Sorensen, the CEO of Europe’s huge trading company Imex Holding, subsequent to these developments that occurred throughout the world, the utilization of social media, the introduction 5G mobile devices and the other technologies that are expected to be brought after a few stages have shaped the retail and mass trade behaviors of Europe. Last year, due to the increase in the rate of internet usage in Europe and the rise in the demand for social media tools, consumer electronics has become one of the fastest growing sectors. As a matter of fact, the European E-commerce Report 2021 also showed that despite the fact that the effects of the pandemic have disappeared and physical stores have been active, 89% of the European population still prefer online shopping. The CEO highlighted that this rate is increasing every year, and thus, the equipment which include new transformations such as smart television, drone, peripheral device, 5G supported phone and computer, are adapted more quickly by the population. Once again, according to the Statista 2022 Consumer Electronics Report, while the phones are the segment that is leading the sector, the leading countries in Europe regarding the e-commerce endorsement were listed as the United Kingdom, France, Germany and Spain.
WHAT ARE THE VARIABLES IN THE ELECTRONIC PRODUCT MARKET?
The happenings after the Covid-19 pandemic, the reduction of pandemic precautions, and, the global continuation of the habits that came with the pandemic despite all these, have closely affected the electronic product sector as well. Sorensen, the CEO, stated that with the decreasing effect of the pandemic, the living conditions have returned to normal, yet, this has not adversely affected the e-commerce habits, but has converted it to a whole new shape. The market, which has steadily achieved growth year by year, is expected to grow by 2.25% until 2027. According to these data that were shared in the Statista report, the consumer electronics market is going to continue to grow swiftly in 2022 and beyond, nevertheless; it is possible to have changes in the numbers owing to the global developments in the sector. Even though for now the leader of the consumer electronics market is smartphones, which are one of the most traditional products, there are a large number of new players that will upset the dominance balance. Specifically, with the involvement of the systems such as 5G technologies, the internet of objects, metaverse and blockchain, it is thought that both brand new names are going to join the new sector and the habits of buying and selling will be influenced by the renewed developments. Moreover, it is also estimated that Chinese brands such as Xiaomi and Huawei might gain popularity against Apple and Samsung.
According to the statements of Sorensen, the chaos between Ukraine and Russia has closely influenced European electronic commerce and online shopping behaviour, and it appears to continue to do so. The existing data demonstrate that the increase in global user number contributes directly to the growth of the market, however; since the risks such as the war, the environment of insecurity and inflation are strong enough to bring the growth numbers to the level before the pandemic, the users make their e-commerce decisions more reasonably. Furthermore, energy prices in European Union member countries, which are rising expeditiously, enhance the sales of environmentally-friendly products. In addition to all these, Imex Holding and similar huge companies meet the daily changing and short-term product needs highly quickly particularly after the developments, and in fact, when the data in this area are scrutinized, it is observed that the sales belonging to the post-war period have increased by 2 times in comparison with the previous ones. In general, though the users feel ınsecurity and uncertainty in many aspects, the share of the electronic product sector in e-commerce is showing an increase year by year owing to the non-pausing development of technology and its functioning in every aspect of life.