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New C&M analysis: Consumer Electronics (Egypt) Raya Holding Co Company Profile

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Raya Holding Co in Consumer Electronics (Egypt) - a new company profile report on companiesandmarkets.com

 

PR-Inside.com: 2014-03-18 22:03:04
Raya is ranked first in the electronics and appliance specialist retailers market in Egypt with the company´s revenue share of this market remaining relatively stable over recent years. Increased competition from the chains Delta Co´s Mobile Shop and RadioShack as well as Olympia Grou´s B-Tec fascia has reduced their share slightly although Raya is still ranked first in the market. The demand for Egypt´s consumer electronics increased over recent years. Sales of consumer electronics in Egypt were boosted by the large domestic market, increasing disposable income levels and improvements in telecommunications infrastructure over the review period. Despite the global financial crisis, Egypt has been able to maintain respectable GDP growth in recent years and a growing number of consumers have been able to purchase more basic products such as mobile phones and home video as well as the latest gadgets within consumer electronics.

Ongoing political instability, rising unemployment and the devaluation of the Egyptian pound posed more challenging conditions during 2012 and 2013 and resulted in a sharp drop in growth. Consumer confidence decreased while many retailers were also impacted due to curfews and unrest in the streets. Egyptian consumers thus became less likely to make impulse buys and more reluctant to spend money on consumer electronics – a development which accelerated product cannibalisation.

Smartphone and tablet PC sales reported a strong performance. However, a number of product areas continued to see strong growth in 2013. Although partly driven by global trends, smartphones, portable computers and digital TVs all posted significant growth as a result of consumers wanting to stay both informed and connected. At the same time, this had a detrimental effect on other product areas such as portable players, with many consumers moving to all-in-one devices.

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