“The economic downturn will continue to constrain demand for electrical goods in the short term, with the market expected to decline by 1.5% in 2023. However, disruption also opens up new windows to the market, including the redirection of spending to the home and prioritisation of energy efficiency to mitigate soaring living costs. The necessity nature of the electricals market means purchasing level remains high, but as the market becomes increasingly fragmented, retailers need to strengthen their value propositions to cut through the noise.”
– Sam Nguyen, Retail Analyst, February 2023
This Report looks at the following areas:
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