Consumer electronics one of the mainstays of the UAE retail market: Jumbo Group

January 30, 2023 | By RetailME Bureau

“Consumer electronics is one of the mainstays of the UAE retail market, which accounted for anywhere from AED13-16 billion in sales last year,” shared Vikas Chadha, CEO of Jumbo.

Operating in the UAE for almost 50 years, Jumbo has witnessed massive changes in consumer behaviour and purchasing patterns. “The demands of customers are constantly changing and evolving. Today, we’re seeing customers increasingly looking for smarter, connected products which can be operated remotely or through mobile apps,” Chadha added.

And it’s not just what people are buying when it comes to consumer electronics, but also where and how. While the e-commerce market continues to grow at pace, there is still the demand to ‘try before you buy’ as shoppers want to reach out and touch the latest tech products. Large appliances such as crystal-clear televisions and the latest surround sound systems need to be seen or heard to be believed, which is why making an in-store visit an often essential part of the shopping experience.

“Today, consumers are more accustomed to online shopping and are placing orders for products that traditionally mandated a store visit. From large home appliances to expensive smartphones, consumers purchase products online for the sake of convenience,” Chadha observed. “However, the traditional market is better off than last year, and we expect it to outperform current forecasts. One of the reasons for this positive turn is the increased footfall in the malls during festival periods like DSF, and throughout weekends, which is translating to higher sales.”

In the consumer electronics market chip development and the latest super-fast broadband has accelerated growth in smart appliances, smartphones, high-end TVs and the gaming sector – with demand reaching record levels as consumers look to make the most of those technological advancements. However, growth in other key segments is slowing. “While no consumer products were completely wiped off the shelves in 2022, PCs and laptops have seen a decline in demand.”

But as always with technology, as one product reaches market saturation or close to it, new products are always being developed to move the market into the future. “The consumer electronics industry is continuously evolving and innovating as new technologies develop, such as artificial intelligence and Metaverse,” said Chadha. “The products that are an offshoot of these innovations have massive potential and will shape the industry contributing to changing consumer behaviour and demands. This means there is now a fast-growing market for products like VR headsets, glasses and accessories, especially among early adopters.”



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