Home electronics, or consumer electronics should you prefer that, has long had its obvious place as one of the most purchased product categories when it comes to online shopping. During the eight years that Direct Link/PostNord has published the report ”E-commerce in Europe”, the category has been in the top three – and usually top two after clothing and footwear – in all markets included in the study. The consumer electronics e-commerce industry worldwide was valued at 344 billion U.S. dollars in 2021. By 2030, the market size of electronics e-commerce is estimated to the astonishing sum of 860 billion U.S. dollars.
So, what are the reasons why this category has grown so strongly online? The industry is large, the range of different brands and designs of televisions, smartphones, vacuum cleaners and so on is huge, making the industry extremely competitive and under price pressure. From a consumer perspective, the web provides an excellent opportunity to get an overview of the enormous product range, without having to physically visit a large number of electronic stores to be able to compare brands, performance and price. There are also studies that show that many consumers find it more pleasant to avoid being confronted by sales representatives in physical stores who try to sell them all kinds of extra equipment and various types of insurance that the consumer often does not need.
But naturally, consumer behavior varies from individual to individual. According to Google, a study showed that 72 percent of shoppers looking to buy consumer electronics visited a physical store to check out a product they already planned to buy online at a later occasion. The reverse is also true. In another survey, 77 percent of consumers did most of their research at home and then visited stores to confirm product information, specifications, and price.
To learn more about European e-commerce and what you need to know to succeed there, order your free copy of the ”E-commerce in Europe 2021” report.
Olof Källgren, Market Information Manager, Direct Link