The report given by PMR publication provides details on the retail market of home appliances, electronics and digital media in Central Europe 2013, which was worth €12.2bn in 2011 along with market analysis and development forecast for 2013-2014.
As per the reports, the retail market in Central Europe forecast to grow by 2%in local currencies in 2012 and there would be a slow increase on the market for the consecutive year after the plunge caused by the global financial crisis.
According to the estimation made by the report, the retail market of home appliances, consumer electronics and digital media in Bulgaria, the Czech Republic, Hungary, Poland, Romania and Slovakia had increased by 1.7% in local currencies in 2011 where as in Central Europe, it was a period of poor economic condition. In 2012, the retail market of Central Europe has an overall increase due to the decision made by the consumers to buy modern equipment which involved exchange of TV sets and purchase of set-top boxes due to digitalisation of the TV signal, along with the increase in sales of smart phones and tablets.
As per the forecast made, Czech Republic, Slovakia and Hungary markets are on the decline in 2012 and thus, the whole year is going to note an increase of 2% in local currencies.
According to the report, the Hungarian economy is facing problems in the region, and thus the country’s home appliances, consumer electronics and digital media market is still in stagnation. In contrast, the Romanian and Bulgarian markets are performing well, because of the increase in buying home appliances, consumer electronics and digital media due to many households lacking in basic appliances, such as washing machines, etc. Even the hot climate of the Southern and Central European countries, especially Bulgaria, provides an opportunity of selling air-conditioners, which also influences the market size after major falls in 2009 and 2010 .
The report says that, Poland’s market is the largest in the region because, last year it accounted for almost half of the total Central European home appliances, consumer electronics and digital media market. Conversely, Bulgaria covers the smallest portion of the market, because of low purchasing power of Bulgarians. The report also says that, there is a forecast made that all the Central Europe home appliances, consumer electronics and digital media markets will increase in value in 2013 and 2014, apart from Poland, the Czech Republic and Slovakia.