PROSPECTS AND OPPORTUNITIES
Premium products and tech-savvy consumers will positively increase demand
Across the forecast period, retail sales are set to grow at a current value CAGR of 5% (2024 constant value CAGR of 2%). In 2024, consumer-to-consumer transactions, such as Facebook marketplace, remained popular among Slovak consumers due to their frugal spending habits and a reluctance to purchase non-essential items.
A lack of new home constructions may challenge sales across the forecast period
New home construction under private ownership continued to decline during 2024, raising concerns about a potential shortfall in furnishing newly built homes across the forecast period. As the number of new homes decreases and their sizes shrink, the demand for appliances is expected to remain limited.
Consumers may prioritise local businesses across the forecast period
In January 2025, the VAT rate for non-food products will increase from 20% in 2024 to 23%. This change is expected to encourage a rise in cross-border shopping, particularly through the expanding retail e-commerce options within the EU, which may offer better prices due to the lower VAT rate in other countries.
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Overview:
Understand the latest market trends and future growth opportunities for the Appliances and Electronics Specialists industry in Slovakia with research from Euromonitor International's team of in-country analysts – experts by industry and geographic specialisation.
Key trends are clearly and succinctly summarised alongside the most current research data available. Understand and assess competitive threats and plan corporate strategy with our qualitative analysis, insight and confident growth projections.
If you're in the Appliances and Electronics Specialists industry in Slovakia, our research will help you to make informed, intelligent decisions; to recognise and profit from opportunity, or to offer resilience amidst market uncertainty.
The Appliances and Electronics Specialists in Slovakia report includes:
- Analysis of key supply-side and demand trends
- Detailed segmentation of international and local products
- Historic volume and value sizes, company and brand market shares
- Five year forecasts of market trends and market growth
- Robust and transparent research methodology, conducted in-country
This report answers:
- What is the market size of Appliances and Electronics Specialists in Slovakia?
- Which are the leading retailers in Appliances and Electronics Specialists in Slovakia?
- How is the rise of e-commerce and the expansion of modern grocery retail impacting traditional retail?
- How has the impact of COVID-19 and national lockdown impacted consumer demand?
- Which formats have benefited the most from stockpiling and enforced home seclusion?
- How will the wider economic impact of COVID-19 shape the retail landscape in the future?
- Where is future growth expected to be most dynamic?
Appliances and Electronics Specialists in Slovakia - Category analysis
KEY DATA FINDINGS
Reduced spending on non-essentials dampens retail value growth in 2024
Nay's acquisition of Datart solidifies the players leadership position in 2024
Retail e-commerce challenges sales as consumers look for the best deals
Premium products and tech-savvy consumers will positively increase demand
A lack of new home constructions may challenge sales across the forecast period
Consumers may prioritise local businesses across the forecast period
Retail in Slovakia - Industry Overview
Retail in 2024: The big picture
Retailers offer added-benefits, deals and discounts to drive sales
Leading players focus on consolidation to prioritise efficiency
What next for retail?
Informal retail
Opening hours for physical retail
Seasonality
Christmas
Easter
Back to School
DISCLAIMER
Appliances and Electronics Specialists
Appliances and electronics specialists are chained or independent retail outlets with a primary focus on selling one or more of the following categories: domestic electrical appliances, consumer electronics (including mobile phones), and/or computers and peripherals. Appliances and electronics specialists value sales excludes revenues derived from telecoms service plans and top-up cards. Example brands include Apple, Best Buy, and Gome.
See all of our definitionsWhy buy this report?
- Gain competitive intelligence about market leaders
- Track key industry trends, opportunities and threats
- Inform your marketing, brand, strategy and market development, sales and supply functions
This report originates from Passport, our Appliances and Electronics Specialists research and analysis database.
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