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September 29, 2022

GfK: Durable goods market reaches EUR 500 M

The durable goods market has grown by 9.5 per cent year-on-year in Q3 this year, to EUR 534 M, against the backdrop of the 24 per cent growth registered by the telecom sector, a GfK Temax report shows.

“The contribution to this growth came mostly from the most important sector value-wise – telecom (almost 24 per cent higher year-on-year). At the same time, the large and small home appliances and brown goods sectors also contributed to the positive result. On the other hand, the photo, IT, printers, multifunctional products and consumables sectors slumped,” the communiqué shows.
According to the GfK Temax report, the telecom market grew by almost 24 per cent in Q3 this year, compared to the same period last year, to EUR 176 M. “Smartphones with large screen sizes and 4G technology remained on the good trend they have registered so far. This positive evolution was accompanied by the growing importance of sales of premium smartphones. Likewise, mobile phone accessories have contributed to the growth of the telecom market,” the authors of the report claim.

At the same time, the sales of large home appliances registered a growth of approximately 11 per cent in Q3 of 2015, to EUR 127 M, EUR 12 M more compared to the same period last year. According to the report, the growth was generated by seasonal sales of refrigerating appliances (refrigerators and freezers) but also by built-in appliances, which continued their upward trend. On the other hand, the washing machines market slowed down, registering a single-digit growth rate in the third quarter this year. In what concerns the brown goods market (television sets and audio equipment – engines of growth for the market), its growth surpassed 3 per cent, with sales of EUR 74 M.

GfK Temax is an index used by GfK Retail and Technology in order to monitor the durable goods markets. The results are based on regular studies carried out on GfK’s retail panel. The retail panel includes data from over 425,000 points of sale worldwide. Starting in February 2009, GfK Retail and Technology calculates the GfK Temax index at global level, in over 30 countries.

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