A year of contrasts for the Tech & Durable market

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The NIQ Retail Spend Barometer combines data from NIQ and GfK to measure the turnover of the fast-moving consumer goods and the Tech & Durable goods purchased in the Italian stores. In particular, the Italian T&D market in 2023 went through a year of ups and downs and a slight decrease compared to 2022, recording a turnover of 53 billion euros. The Home Improvement sector, which includes home improvement and furnishing products, began 2023 with a solid growth (5.3%), however slowed starting from the second quarter (1.6%). Despite this, it ended the year with a slight decline of -0.2% compared to 2022. According to the NIQ Retail Spend Barometer, the home improvement spending remained stable, but the economic volatility affected the results. Indeed, the Technical Consumer Goods sector, which includes consumer electronics, telecommunications, IT, office products, photography and other technological goods, suffered a significant decline in 2023, with a decrease of -5.4% compared to the previous year. However, some subcategories, such as household appliances, have grown even in such a difficult context and, despite the challenges, the sector recorded positive growth in 2023 and closed the year at 6 billion euros, +3.2% vs 2022. The demand for household appliances has increased as it is driven by new technologies and a greater interest in sustainability also linked to the energy saving.