Euronics Maintains Growth Despite Challenges

With sales of 19 billion for financial year 2015 (a 4.4% year-on-year increase), Euronics International is continuing the strong business performance the company has consistently achieved over the past 12 years. A specialist retailer with over 10,000 locations worldwide that stock conventional consumer electronics products, smart wearables, smart home and household appliances, Euronics International is managing to grow faster that its competitors, despite a relatively at broader market.

“Our retail group is proving very successful in addressing a challenging European market environment”, explains Hans Carpels, President of Euronics International, at an IFA press conference. According to GfK Temax, the market for technical consumer products shrank by 1.5% in 2015. “However, our retailers are still managing to generate sales with rates of growth that exceed those of our competitors – providing clear confirmation of our value-added and value creation strategy.”

Following 2015’s announcement of the Group’s expansion within Kazakhstan through co-operation with Alser, Euronics announced its further geographical growth into Africa, its third continent, and 36th country location – Euronics member Sharaf DG is expanding their activities into Egypt, opening one store in January 2017.

OUR RETAIL GROUP IS PROVING VERY SUCCESSFUL IN ADDRESSING A CHALLENGING EUROPEAN MARKET ENVIRONMENT.

Meanwhile, Euronics aims to make inroads into the smart home retailing market. “When customers enquire about networking their homes, they also expect answers on the issues of security, convenience, and energy- efficiency,” said Euronics International Managing Director, John Olsen. “In order to be able to reach out to people it is not enough to simply allow facts to speak for themselves – we must also reach out to them emotionally. Specialist retailers need to create worlds of experience in their showrooms.”