The home equipment market sticks out its tongue after two complicated years. 2022 was notably marked by the shortage of components, inflation and the purchasing power crisis. Not easy for consumers to equip themselves, especially after periods of confinement linked to Covid conducive to computers, and especially to small household appliances.
In this context, the global signals are not really in the green. Like the smartphone market, which in the 4th quarter suffered its strongest decline in 10 years. According to Canalys, shipments of terminals actually fell by 17% in the 4th quarter worldwide, to reach around 300 million units, and the period of Black Friday and the holiday season could not reverse the tendency. Small household appliances fell by 4%, while large household appliances remained stable in 2022.
Household equipment: an activity still superior to pre-pandemic benchmarks © GFK
If we take the figures for France, which GfK reveals exclusively on Digital, the household capital goods market as a whole shows a decline of 5% in 2022. the year. Consumer electronics (TV, audio, photo) stood at -7% in value. The telecoms market fell by only 2%. If we include the operator circuit, however, GfK is recording value creation, with timid growth of 2% in 2022.
And the major commercial meetings of the year have not changed anything. Black Friday was disappointing in 2022, with a decline of 1.9%. The week before Black Friday, on the other hand, is at +10%. “Promotional activations got ahead this year“, analyzes Pierre Geismar, head of equipment goods at GfK. Consumer electronics and large household appliances are doing well during this commercial event, with an increase of 8% and 6% respectively compared to 2021.
The telecom sector outperforms with operators © GFK
GfK detects a jump for the TV market with the Football World Cup in December. The firm recorded a peak in sales the week before the event in Qatar, with a 60% increase in screen purchases.
The Football World Cup will not have been enough © GFK
Regarding the 2023 winter sales, the first week recorded a decline of 5% compared to 2022, which is quite slow in the eyes of GfK. The declines are comparable for consumer electronics. Telecoms seem to be doing better.
Overall, given the purchasing power crisis and the inflation that have been raging in recent months, consumer morale is not at its highest and consumers are putting themselves on hold.
GfK is due to present the full results of its study on the capital goods market on January 31, including the 2022 balance sheet and the outlook for 2023. To follow this presentation, simply register here.
