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Sales of durable goods decreased by 42.3% in the first nine months, to one billion euros, as against January-September 2008, despite the market recovery in the third quarter, as compared with the second, against the backdrop of economic crisis and plunging incomes, according to GfK.
"The domestic market of electrical products was 336 million euros in the third quarter of this year. Even if the results were better than in the previous quarter, compared with the third quarter of 2008, the market fell by 45.8 %. The first three quarters of 2009 totalled 1,000 million euros, which means 42.3% less than in the same period in 2008," reads a release issued by the analysis and research company GfK, on Monday.
In the first quarter, the durable goods market amounted to 356 million euros, while in the period April-June sales were 308 million euros.
According to the analysis, consumers bought in the first three quarters, 23.2% less small home appliances than in the previous period of reference, the telecommunications sector decreased by 28.6% and the large appliances by 37.6%.
"Sales of large home appliances had a good quarter again, as compared to the start of 2009, but, compared to 2008, sales dropped. Consumer electronics fell 43.3%, while the photo sector recorded a decrease of 46.9% in 2009. The IT and office equipment sectors had the worst performance, falling by 50.8%, respectively by 53.2%," the survey mentions.
Small home appliance market was more resistant to the crisis, as compared to other sectors, the rate of decrease falling slightly, to 25% in the third quarter, from 27.6% in April-May.
Sales of small home appliances in the third quarter were 18 million euros, the highest value this year.
"Safety razors are one of the groups of products that recovered best in these two months. The increase in sales was due to epilators, as they were a seasonal product.
(...) Another category, of food preparation appliances, had a better quarter. (...) The financial crisis changed people's behaviour - they prefer home cooking rather than to eat out, " the survey points out.
Also, the consumption of large home appliances grew by 20% in the third quarter, as compared from the second quarter, but decreased by 38.4%, as compared with July-September 2008.

 

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