Korea: the TCG market declined by 2.1% in the first quarter of 2019


In the fist quarter of 2019, the Korean technical consumer goods market declined by 2.1% compared to the same quarter in 2019, according to GfK Temax. There was a large variance in the sector growth ranging from -23.2% to +26.9%. Three out of the seven TCG sectors in Korea reported positive growth, and four other sectors showed negative growth.

Here are the growing products:
Major Domestic Appliances
Hobs achieved the highest growth in the category, compared to the same quarter of last year: the development was driven by the electric hobs. Kimchi refrigerators showed positive growth.

Small Domestic Appliances
The SDA sector as a whole had tremendous growth, which was due to the majority of categories (deep fryers, garment steamers, air treatment, vacuum cleaners, hair dryers, hot beverage makers, electric fans). Deep fryers (air fryers) continue to be the growth drivers due to the entry price of brands, and vacuum cleaners and air treatment stood out with a significant growth rate. Finally, garment steamers got positive growth affected by the sales of TV-homeshopping channel.

Consumer Electronics
Audio Home System and PTV showed positive growth in Q1 2019. Especially, the increase of Audio Home System has been led by the AI speaker products, and PTV by the inches above 60.

Information Technology
In Q1 2019, comm. devices and pointing devices grew slightly in the information technology sector.

Headsets, phablets and core wearables showed a high increase. Especially the headsets highly increased due to the growth of the wireless type, and the phablets were influenced by the impact of low cost products launch.

Image by JJuni from Pixabay

Here are the declining products:
Major Domestic Appliances
Despite the decline of the majority of categories (cooling, washing machine, microwave oven), the MDA sector showed a growth as a whole.

Small Domestic Appliances
Despite a drop in revenues for dental care, food preparation, hair stylers, irons, kettles, rice cookers, shavers, steam cleaners, the SDA sector showed an overall growth.

Consumer Electronics
The majority of categories (camcorders, loudspeakers, VG consoles) showed a decline in revenue in the first quarter of the year.

Photo sector in total shrank, due to negative growth in digital cameras, interchangeable lenses and memory cards.

Information Technology
Keying devices, mobile computing, desktop, monitors, media tablets and storage reported a drop in sales in Q1 2019. Overall, IT sector showed negative growth.

Once again, smart-mobile phone categories struggled.

Office Equipment and Consumables
The OE sector registered a sharp drop in sales in Q1 2019 compared to Q1 2018. All categories suffered declines.


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