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At home needs and digitisation power industry
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.