GfK: Romania’s technical consumer goods market goes up by 9.5% in the third quarter

The Romanian technical consumer goods (TCG) market increased by 9.5% year-on-year in the third quarter of 2015, reaching a value of EUR 534 million, according to the GfK TEMAX survey. The telecommunications segment had the biggest contribution to growth in the TCG market. This sector registered an increase of 23.7% in the third quarter of this year compared to the same period in 2014, registering a turnover of some EUR 180 million. Smartphones with large screens and 4G-enabled devices continued to perform at a high level, according to GfK. The major domestic appliance sales recorded a double-digit increase (up by 11%) in Q3 2015, reaching a total value of EUR 127 million. The market was driven by seasonal sales of cooling products such as refrigerators and freezers, but also by the built-in appliances segments which continued the positive trend. Meanwhile, the sales of washing machines slowed down in this period. The consumer electronics segment registered growth of 3.2% year-on-year, registering total sales of EUR 74 million. The market for TVs recovered after a negative result in the previous quarter, mainly due to increased sales of larger-screen TVs, UHD products, and Smart TVs. The audio market continued to record increased demand. Although it had a positive start this year, the small domestic appliances segment had a weaker third quarter in terms of growth rates, especially for the vacuum cleaners market which suffered the most. The reason for this evolution is a rise in sales of cylinder vacuum cleaners in Q3 2014 when consumers bought high-powered vacuum cleaners ahead of EU legislation. The IT products market went slightly down in the third quarter, to EUR 104 million. According to GfK, the media tablets reported a double-digit decrease, which impacted the entire sector. However, the desk and mobile computing, monitors, keying and pointing devices segments, all reported higher demand. The office equipment and consumables segment reached EUR 14 million in the third quarter, which represents a decline of 4.7% when compared to the same period of the previous year. The photography sub-market also fell by 22.7% year-on-year, to EUR 6 million. GfK: Willingness to spend is low in Romania Irina Popescu, irina.popescu@romania-insider.com