The cumulative analysis from January to August 2024 reflects a 26% drop compared to the same period of the previous year, but an improvement compared to the initial 39% decrease observed in the first quarter of the year.
After a difficult start to the year marked by a severe contraction in sales After the December devaluation, the home appliance market begins to show signs of recovery starting in May. In August 2024, for the first time, a positive variation compared to the same month of the previous year, with a 3.7% increase in sales.
The cumulative analysis from January to August 2024 (YTD 2024) reflects a 26% drop compared to the same period of the previous year, a significant improvement compared to the initial 39% decrease observed in the first quarter of the year, according to GfK, a NielsenIQ (NIQ) company.
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Consumption of household appliances: which categories stood out
Market recovery is driven by new financing conditions, that have had a favorable impact. Categories with a high incidence of national manufacturing, such as white goods and air conditioninghave shown above-average performance. Air conditioning, in particular, benefited from the intensity of the winter season, boosting sales of hot water tanks and heating systems.
On the other hand, the improvement in supply and assortment has favored categories such as small appliances and IT products; while, The lower supply has affected the cell phone market more significantly.
Discount event boosted sales also in September
The Electrofans event, held in mid-September 2024, was an additional boost for the market recovery trend. Although the monthly data for September is not yet closed, a positive dynamic can be inferred from the results of the event. Sales during the Electrofans week showed a growth of 25% compared to the previous week, as reported by GfK.
Price stability, the reappearance of fixed installments and improvements in financing costs have been key factors in improving consumption in the sector.
Source: Ambito
