While IFA is taking place in very unusual circumstances this year, it has to be said that the market has not been hit as hard as some other sectors. A report released at IFA by GfK demonstrates that the value of the global Technical Consumer Goods (TCG) market fell by 5.8% in the first half of 2020. This relatively small decline came as this market benefitted from “at-home” needs and digitisation during lockdown.
According to the report, volume sales of webcams surged at one point by 297%, monitors by 120% and notebooks and computing tablets by 62% across France, Germany, Italy, Spain and Great Britain. The result is the IT sector grew by 17.2% in value terms globally in the first six months of 2020.
When lockdowns were being initiated, consumers stockpiled frozen food, driving the immediate demand for freezers. In the weeks between March 2 and March 22, volume sales grew by 317% in Great Britain and by 185% in Germany.
As consumers adjusted to life in lockdown, the need for ‘entertain at home’ kicked in. Gaming notebooks witnessed strong volume sales of 55% and gaming monitors were up 62% in the first half of 2020.
… An extraordinary new dynamic. Hard to follow; but possible… thanks to the IFA Special Edition.