Impact of COVID on consumer electronics industry…
The coronavirus epidemic (COVID-19) has already had a profound impact on consumer electronics sales and industry vision.
Other categories such as computers and restrictions have benefited as consumers work from home, leading to more sales.
Since the epidemic has both economic and psychological effects, consumer sentiment will be severely curtailed, with major ticket items such as televisions having a negative impact as a result.
Production WINS THE DAY
Sales of computers and peripherals have enjoyed a further increase in sales as consumers are busy buying laptops, tablets, printers, and monitors as offices and schools close.
IMPORTANT TRAINING IS NOT BAD FOR CONDUCT CUSTOMER BUYERS
With the reduction of wasted income and the consumer feelings of depression, consumers are choosing to buy necessities such as food and cleaning products and avoid unnecessary purchases, of large tickets such as LCD TVs.
SOME COMPANIES WILL BENEFIT FROM DISASTER
As consumers reduce their purchases voluntarily, products like Xiaomi will benefit as a low-cost company strategy will offer a better value for money.
Apple will not have a negative impact as the company has the following loyal followers.
HAPPINESS IS VERY IMPORTANT
Despite tightening belts, consumers will still spend money on products they see as important (such as smartphones) or that offer easy value for money (such as wireless speakers).
GLOBAL SUPPLY DEVELOPMENT WILL NOT CAUSE LARGE CONSUMER COST
With most of the major production markets closed, the supply of goods and finished goods will be affected. However, as more electronic products are sold more widely, consumers will not see a significant increase in cost.