According to the latest GfK research released this week, the UK Consumer Electronics market in October 2007 has witnessed an impressive 13.1% growth on October 2006.
”This was something of a surprise as with all the media hype around our perilous financial state you might have expected consumers to cut back!” comments John Binks, Commercial Director GkF, “However I think it goes to show that consumers may cut back on some sectors but in terms of their Home Entertainment this is one of the last sectors to suffer.”
Month on Month growth October 2007
Flat TVs unsurprisingly led the field, with a 24 per cent value growth and a massive 66 per cent unit growth. This takes the TV market to 8.3m units and a value of £3.8b – a new record! Audio put on a good show with the Home Theatre market achieving an impressive 33 per cent value growth.
Year to date 2007 growth by sector
”We estimate that by the end of 2007 one third of homes will have a Flat Screen TV in their living room most (30%) of which will be HD Ready” says John Binks.
With Christmas around the corner, UK consumers look set to splash out on the latest Consumer Electronics products and maintain the positive market momentum. What will you be asking Santa for?