TECH NEWS – Small and large electronic devices are the stars of the holidays for a reason: on the one hand, they are really useful gifts, and on the other hand, Christmas is the holiday when we are willing to spend on higher-value products. Euronics examined what the most popular products were last Christmas and reveals which products are expected to be under the tree this year.
Many people already shopped during Black Friday
Based on the experience of Euronics, customers start purchasing Christmas gifts earlier and earlier, and already thinking ahead to the holidays, they take advantage of the autumn coupon days and Black Friday sales. During this year’s Black Friday period, for example, more than 80,000 products were sold, which is 54% more than the amount of goods sold in October.
During Black Friday 2022, the most sought-after products were handheld vacuum cleaners, smartphones and air fryers at the technical store chain, but the top five were also heat pump dryers and 55″-58″ televisions. Smartphones brought in the highest sales, Euronics customers spent HUF 140,000 on average in this category. Therefore, many people can expect that a new mobile phone will be waiting for them under the tree – the most sought-after brands were Samsung, iPhone and Xiaomi.
The peak period in December is still spectacular
Despite the extraordinary interest surrounding Black Friday, however, December is still the busiest period, and customers like to visit the stores and look at the offer in person. In December 2021, for example, nearly 60% more customers visited Euronics stores than in November.
The increase in the number of customers is of course closely accompanied by an increase in sales revenue: in December 2021, Euronics’ sales revenue increased by 28% compared to November, while the number of products sold increased by 50% in the same period. In December, based on the data of the technical department store chain, a regular shopping spree begins, the number of customers in department stores and the number of orders in the online store visibly increases from the first days of the month.
In December 2021, at Euronics, the greatest interest was in coffee makers, air fryers, vacuum cleaners and other small appliances, but there was also great demand for telephones, televisions between 43-50″, game consoles and smart watches. Last year, in this period, customers spent an average of HUF 41,000 on one occasion, this basket value was HUF 242,000 on average for 43-50″ televisions, and HUF 23,000 in the category of small appliances.
This is what we can expect this year
“This year, we expect interest in the various game consoles and their associated games to continue to grow. Outstanding demand is expected in the categories of automatic coffee makers, robot vacuum cleaners and televisions over 55″, and predictably many customers will also be looking for IT devices, mobile phones and smart watches in the period before Christmas,” says Bálint Fazekas, Euronics commercial executive director . “Since this year we already have new product lines in our offer, we expect outstanding results in the categories of home sports equipment and toys in December.”
Prices will be higher
The inflation experienced in the entire market, as well as the still stuttering supply chains, forced technical retailers to adjust prices this year, which is why customers are expected to have to reach deeper into their pockets for a Christmas present than last year.
“Even though we can encounter prices that are falling in almost every market segment, and as a company employing nearly 1,000 employees, we were also forced to raise prices, at the same time, our situation is relatively favorable. In March of this year, we opened our 28,000 m2 warehouse base, where we had the opportunity to prepare to store in larger quantities, in advance, even the goods we want to sell during the Christmas period. In the case of products for which a new series is not released every year or six months, i.e. which do not change so quickly, we were able to stock the necessary quantities even before the exchange rates took off. Thanks to this, we will be able to offer customers these devices at a more favorable price than the market average in December,” adds Bálint Fazekas.
According to the commercial executive, however, in the case of innovative, fast-selling and changing product ranges, such as telephones, customers should expect price increases resulting from the market situation.
More and more people are asking for help with their choice
With rising prices, it is difficult to make a good decision, according to Euronics, perhaps that is why more and more people are asking for help in choosing the right device. The specialist salespeople of the technical department store chain no longer only help customers in physical stores, but also online by suggesting the product or products that best meet the specified conditions after a short needs assessment.
For those who are still not sure that the item bought as a surprise will be liked by the recipient, a shopping voucher can be a good choice. According to Bálint Fazekas, many people take advantage of this opportunity every year: “The increased demand for shopping vouchers appears as early as October. In October 2021, compared to the previous month, the sale of vouchers increased by 17%, while in November there was a 178% increase and in December a 73% increase compared to the previous month.”