Electronics Sales Up in Germany
One sector in Germany that is profiting from the restrictions associated with the coronavirus pandemic is electronics. The industry expects sales of 63.6 billion euros this year, the managing director of the trade association for technology (BVT), Steffen Kahnt, told the online business magazine Absatzwirtschaft. That represents an increase of 1.6 percent compared to 2019.
“Two lockdowns and home office have meant that Germans are investing their vacation money in their own four walls,” Kahnt said.
Consumers are snapping up laptops and OLED televisions, automatic coffee machines and robot vacuum cleaner robots, anything that makes life at home more pleasant. An additional incentive may be Germany’s reduction of value-added tax from 19 to 16 percent until the end of the year.
The Association of Consumer Research (GfK) says that sales of television sets rose by six percent in the first eight months of 2020, with customers increasingly preferring large-screen devices of 70 inches and more.
The large numbers of Germans now working from home has also bolstered demand for laptops, computer monitors and keyboards. Sales of information technology products rose by 15 percent to six billion euros between January and August, the GfK added.