The Consumer Electronics segment in China registered Market value of USD 26,835.40 Millions in 2024
The indicator recorded a historical decline (CAGR) of 3.56% between 2021 to 2024, and is expected to grow by...
GlobalData projects the indicator to grow at a CAGR of...
Consumer electronics retail market in China
The Chinese consumer electronics retail market decline by a significant share in 2020.
The Consumer Electronics Retail market is comprised of the sales of communications equipment, computer hardware and software, consumer electronics, household appliances, and photographic equipment. Communications equipment includes retail sales only of answer machines, fax machines, fixed-line telephones, mobile phone accessories and mobile phones. Computer hardware and software include retail sales only of desktops and laptop computers, software, memory sticks, CD packs, hard disks and other data storage devices, computer peripherals, PDAs, organizers, calculators, and satellite navigation systems.
The Chinese consumer electronics retail market decelerated in 2020 as the COVID-19 pandemic caused disruption. However, overall, the market has seen strong growth in the historic period. Strong growth is expected in the forecast period but at a marginally decelerated rate.
Category segmentation
Communications equipment is the largest segment of the consumer electronics retail market in China, accounting for a major share of the market's total value.
The Household appliances segment accounts for a further share in the market.
Geography segmentation
China accounts for a major portion of the Asia-Pacific consumer electronics retail market value.
Japan accounts for a further share of the Asia-Pacific market.
Who are the leading players?
The Chinese e-commerce giant JD had the largest market share of consumer electronics in 2020, demonstrating the power of online pureplay in the market.
China’s second-largest non-state company in 2019 was Suning, and its online store Suning.com was another leader in the consumer electronics market. Rapid e-commerce growth was the leading revenue driver for the whole company in 2019, as it continues to innovate ahead of the competition with its ‘Smart Retail’ strategy.
The traditional giant of the market, GOME Retail, is still a top player in consumer electronics, but its combination of brick-and-mortar stores and e-commerce appears to be struggling in the face of its online pureplay rivals. Revenues last peaked in 2016 and have been falling Y-o-Y since then.
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