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The Demand for Consumer Electronics During the COVID-19 Outbreak
It has been widely reported how COVID-19 is affecting different industries and different parts of our lives, and this extends to electronics.
In this blog, we take a look at the factors that could be impacting the demand for consumer electronics and how manufacturers can deal with this demand when there are issues with the global supply chain caused by COVID-19.
Related article: How to Deal with Supply Chain Disruption
More time spent at home
The increased time we are spending at home has led to more demand for entertainment electronics such as gaming consoles. In the UK, many members of the workforce have been furloughed, meaning they have far more free time than usual.
The Nintendo Switch, for example, was sold out at many retailers after the beginning of the lockdown and at the end of April it was reported that Nintendo was ramping up production of the Switch range in order to meet this surge in demand. This is no surprise given that people are searching for new ways to pass the time!
However, Nintendo, who rely heavily on manufacturing facilities in China, have been facing problems with production due to bottlenecks in the supply chain and the impact on the workforce.
Need to stay connected
Many people have been expressing gratitude that this global lockdown has occurred at a time when we can all still stay connected digitally, even when we can’t see one another physically. This is a process that relies on consumer electronics and may increase demand.
Interest in fitness
Another factor which may affect the demand for wearable electronics during this period is an interest in fitness at home. With more time available, and limited options to spend it, many people are turning to activities such as walking, running and at home workouts. In order to track their progress, they may be interested in buying wearables such as smart watches.
The home office
With the majority of those in office jobs being asked to work from home, they may well have needed or still need certain consumer electronics to make this process easier and make their home office more comfortable. This includes items such as computers, laptops and monitors.
More time to shop online
A final factor which may be affecting the demand for consumer electronics in the current climate is related to all of the above: people have more time to shop online and are motivated to do so by the other factors we’ve mentioned.
Purchases that may have been put off in the past can now have time dedicated to them so more consumers are purchasing the electronics that suit their new lifestyle.
This blog takes a look at some of the factors that might increase demand for consumer electronics during this period. It is important that electronics manufacturers take measures to manage this demand as best they can in the current situation by working with partners who offer supply chain support and access to an existing network of suppliers.