Retail in Asia

In Tech

Asia sales of tech consumer goods sales grow with rising incomes

Q2 of 2010 saw improved sales performances in technical consumer goods across 8 Asian markets, with some growth margins reaching 30 percent when compared with the same period a year ago.  The information was tracked by GfK Asia, a market research company with an extensive Asia presence.

GfK’s Q2 Technical Market Index (TEMAX), findings reported Vietnam, Malaysia and Hong Kong as the 3 top performing countries for technical consumer goods demand, achieving 30, 22, and 17 percent growth respectively.

Small domestic appliances were the highest growth category across the region.  The Vietnamese market registered a strong growth of 30 percent compared to the same quarter in 2009.

While most tech categories saw double-digit growth, only the IT & office equipment category did not.  Small domestic appliance products grew the most, at 61 percent increase from the same quarter last year. 

“Overall, demand for technical consumer goods is strong.  However, it is clear that small domestic appliances propelled the overall growth of the market, with Thailand, Vietnam, Singapore, and Indonesia growing by 41-80 percent,” said Stanley Kee, regional commercial director of GfK Asia.

GfK’s TEMAX (Technical Market Index) tracks technical consumer goods markets in 30 countries worldwide, and reports are released on a quarterly basis for Consumer Electronics, Imaging & Photo, Home Appliances, IT & Office Equipment, and Telecom markets.

The full reports and summaries for individual countries are available at GfK’s website.