The consumer electronics sector expected sales of about 8.9 billion euros for the upcoming Christmas business in Germany,the trade association gfu Consumer & Home Electronics has said.
The expectations were “supported by the continuing positive consumer climate” and the “high propensity to buy in Germany, particularly during the Christmas season,” said Hans-Joachim Kamp, chairman of gfu’s Supervisory Board.
According to the gfu, the market for audio and video equipment has grown by 15 percent this year, mainly due to the strong growth in headphones sales, with an expected turnover of 714 million, an increase of 23.5 percent.
Despite the positive outlook for this year’s Christmas business, sales in the consumer electronics sector in Germany had fallen by 3.2 percent to around 18.7 billion euros in the first nine months of 2019, the gfu noted.
More than 30 percent of annual sales is expected to be realized in the last quarter of the year, especially around Christmas and the turn of the year as “experience shows”, according to the gfu.
The monthly ifo “Business Climate Index” published this week also found that traders’ expectations had increasing markedly. “The signs are that business will be very good this Christmas”, president of the ifo institute Clemens Fuest said. (1 euro = 1.10 U.S. dollars)