Difficult economy begins to affect purchasing power of digital devices

Report on business results of the first 11 months of Mobile World shows that economic difficulties begin to affect the purchasing power of users.

Specifically, the total 11-month cumulative revenue of the two chains The Gioi Di Dong and Dien May Xanh increased by 15% year-on-year. However, in November alone, revenue decreased by 22% over the same period.

“Most of the categories recorded weaker-than-expected demand even in the peak season at the end of the year, with the exception of TV – due to benefit from the World Cup event,” The Gioi Di Dong reported.

After the positive growth in the first 9 months of the year, the sales volume of key products is estimated to decrease by double digits over the same period. However, it should be known that October last year was one of the record sales months for all retail, stemming from strong shopping demand after the pandemic. Therefore, revenue growth in the fourth quarter of this year has slowed down because last year peaked.

The laptop market showed signs of slowing down at the end of the year but still growing compared to 2020. (Photo: Hai Dang)

In the laptop segment alone, after a long time of growth, there have been signs of slowing down.

Chain CellphoneS said the laptop market in December had a decline of about 30-40% compared to November. November had a similar decrease compared to the previous month.

“Summing up the whole year of 2022, it is expected that the total laptop market will decrease by 25-30%,” said the chain with more than 100 retail stores nationwide.

To stimulate demand, retailers offer the most practical measure to evaluate product prices.

Mobile World said it has implemented promotions and deep discounts on many products to meet the needs of consumers in the context of tight spending.

Similarly, Mr. Dinh Hien, CEO of Surface City system, said that when entering January 2023, most of the goods at the store were adjusted down by about 20% compared to before. After the reduction, Microsoft Surface machines are about 1-2 million VND lower than in December 2022.

Despite a decrease in growth compared to the fourth quarter of 2021, the laptop market is still on an upward trend.

“If compared to 2020, the market still has a growth of about 45-50%, the growth rate is very good after many years of gradual decline”, CellphoneS side informed.

After aggressive incentives, Mr. Dinh Hien believes that sales of the computer industry will increase in the year-end period.

Assessing the general situation in the coming time, the leader of The Gioi Di Dong said that economic instability, geo-political conflicts, and energy shortages that have been happening on a global scale will continue. negative impact on inflation, interest rates, exports, employment…

In the first half of 2023, users will continue to tend to save money, and business costs will increase.

In particular, the market for technology products and electronics may suffer from negative impacts because it is a high-value and non-essential commodity.

However, the macro situation is expected to be more positive in the second half of the year, creating conditions for production and consumption activities to gradually recover.

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