Global market for technical consumer goods hits €1 trillion

The global market for technical consumer goods (TCG) exceeded the €1 trillion mark for the first time last year – €1.01 trillion, to be exact – according to GfK.

This is a four per cent increase on the previous year. The product segments of telecommunications (+ seven per cent), small domestic appliances (+ seven per cent), consumer electronics/photo (+ six per cent), and IT/office equipment (+ one per cent) all contributed to this growth in sales.

Global sales from major domestic appliances, on the other hand, fell slightly by one per cent. For 2019, GfK is expecting a two per cent increase in technical consumer goods sales on the global market to around €1.03 trillion.

These are GfK’s current results on the occasion of the CES 2019 in Las Vegas. With a sales share of 42%, Asia-Pacific continued to defend its position on the technical consumer goods market in 2018 as well. A further 25% of sales was achieved in Europe, around 20% in North America, seven per cent in Latin America and six per cent in Middle East/Turkey/Africa.

Markus Kick, GfK expert on technical consumer goods, explained: “Globally, technical consumer goods achieved sales of more than €1 trillion for the first time in 2018. This is a real milestone for trade and industry. The areas of telecommunications, small domestic appliances and consumer electronics proved to be the biggest drivers of sales.

“We are seeing a trend toward premium products in almost all segments. Consumers are also placing ever more value on connectivity and convenience. Based on this trend, GfK is also expecting solid sales growth in 2019 with an increase of two per cent.”

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