29 Oct ICAP Sector Study: Retail Chains of Electric Home Appliances in Greece
The retail trade of electrical and electronic home appliances shows recovery in the 2017-2018 period.
After a long period of continuous decline as a result of the economic downturn in Greece, the sales of electrical and electronic home appliance retailer chains are on the rise in 2017-2018.
The drastic decline in demand in the past years has brought about major changes and rearrangements in the market for home appliance retailers, both on the ‘corporate’ side of the chain and on the networks of purchasing groups.
In the period 2017-2018, this market recorded a cumulative increase of 14%.
According to Konstantinos Palaiologos, ICAP’s Senior Consultant Financial Studies, who oversaw this sector study, the large multinationals have already infiltrated the domestic electrical / electronic retail market. The networks of large organized chain stores have been expanding rapidly over the last 20 years. However, the deep recession that has prevailed in recent years has led to the disruption of several traditional chains, while the large chains that have remained on the market have merged stores and shrunk their network in recent years, in the context of rationalization of their spending and general corporate restructuring.