The climate remains negative in the Greek electrical and electronic products market.
According to GFK data, in the period January-August, the value of sales stood at -6.4% compared to the corresponding previous year and in absolute terms the turnover amounted to 1.9 billion euros, including an increase prices due to inflation.
Worsening consumer confidence, persistent inflationary pressures and economic difficulties for families do not leave much room for high expectations in the sector, although executives have stated that, on average, the prices of electrical and electronic products are falling.
A relative boost to expectations appears to be brought by the “Change Device for Businesses” program of the Ministry of Environment and Energy, which makes it easier for freelancers and individual Greek companies to replace their equipment with energy-efficient solutions, contributing to reducing costs of energy. and its environmental footprint. The program includes air conditioners, refrigerators, ovens, solar water heaters, heat pumps and has mobilized large chains in the sector with the aim of increasing their B2B sales. However, absorption rates remain low due to difficulties faced by freelancers, whose commercial properties are not privately owned.
Everyone’s interest is now focused on Black Friday and companies’ preparation to cover the sales gap in relation to 2023, mainly in the refrigerators and air conditioners category. In practice, this means a battle for share from both retailers and manufacturers.
Under these circumstances, experts in the field see consolidation trends intensifying, as happened with the acquisition of Benrubi by the Quest Group. The large industry chains maintain a wait-and-see stance, with Kotsovolos pursuing a new line of strategy under the umbrella of PPC, Public focusing on its multichannel dynamics and Plaisio continually strengthening its white goods segment.