Singapore - As the economy recovers, consumers in Asia are once again spending on technical consumer equipment (TCE), particularly on LCD-TVs, according to a report by GfK Asia.
GfK findings reveal that one product within the consumer electronics sector that has been displaying exceptional performance is LCD-TV.
Sales of LCD-TV total more than half of all spending on Consumer Electronics products in countries like Hong Kong, Malaysia, Singapore, South Korea, Taiwan, Thailand and Vietnam. “There is no doubt that LCD-TV is increasingly popular among Asia’s consumers,” said Stanley Kee, regional commercial director of GfK Asia.
GfK Asia’s retail tracking across all of TCE which includes sectors such as consumer electronics, major and small domestic appliances, photo, telecom, and information technology, performance in all Asian markets started turning around for the better, reporting positive year-on-year growth in the last quarter of 2009. Information technology and major domestic appliances in particular started to display signs of growth as early as May 2009.
“Positive growth trends are seen in all of GfK’s panels across Asia for the past six months... Information technology, telecommunication, major domestic appliance and consumer electronics—each registering strong double-digit year-on-year growth rates in retail spending in the first three months of the year,” said Kee.
In Southeast Asia, where combined sales growth of consumer technology have been on a consistent upward trend for the last six months, telecom currently occupies the biggest proportion of the overall TCE sales pie with its one-third (33%) share, while spending on consumer electronics is second-highest at 23%.
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