Gloomy times are an opportunity for second hand consumer electronics
The home electronics trade has been hit hard in 2022. The industry is one of those that fared best during the pandemic and this year's development is therefore compared with high numbers.
Sales have also stagnated as interest rates and energy prices have risen, and the semiconductor shortage has also been a recurring explanatory factor for the industry's negative quarterly results. It can also be added that many have returned to their workplaces during the year, which has not benefited the industry. In addition, many of the home electronics companies have also accumulated large stocks that they have had to sell off because demand has slowed. The development of the home electronics sector lands at minus 10 percent for the full year 2022.
Some industries are more sensitive to economic cycles than others, and the home electronics industry is one of them. In tougher times there is no room in the wallet to update their technology gadgets to newer models, which is why many keep working mobile phones and computers longer. As in fashion retailing, this has led to companies creating alternative ways for consumers to consume. This involves, among other things, that repairs are offered and used goods are sold. One example is Elgiganten, which sells its returned goods at a reduced price. There are also companies that have taken it a step further and only sell used products. One such example is Swappie, which sells repaired mobile phones and has been named one of Europe's fastest growing companies. Both of these examples highlight consumers' interest in used consumer electronics.
Source: The E-barometern 2022