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Foxtrot Group in Consumer Electronics (Ukraine)

New C&M analysis: Consumer Electronics (Ukraine) Foxtrot Group Company Profile


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2014-03-18 19:33:03 - Foxtrot Group in Consumer Electronics (Ukraine) - a new company profile report on companiesandmarkets.com

The Foxtrot Group of Companies owns and operates supermarkets and hypermarkets under the brand name Foxtrot Home Appliances, Foxtrot Digital Equipment, FoxMart, Tekhnoshara, Sekunda, and Montres that sell domestic appliances and electronic equipment. The company is based in Kyiv, Ukraine. In 2012/2013, consumer confidence was not completely restored in Ukraine despite the imminent threats of the global financial crisis being in the past and disposable incomes experiencing positive growth dynamic. Still there was uncertainty in the air in view of the October 2012 parliamentary elections and fears of possible Hryvnya devaluation. Thus, consumers tried to buy only necessary or the most fashionable consumer electronics, while products that were not perceived to be essential continued to be economised upon. As a

 

 

result, retail sales slowed down compared to 2011, even though they remained positive overall.

Ukrainians usually eagerly follow Western living standards, and there was no exception with consumer electronics. At the end of the review period, consumers were particularly interested in purchasing devices which connected them with the world through the internet, whether these were smartphones, tablets or internet smart TVs. In addition, expanding functionality of consumer electronics was much appreciated since it allowed for bigger value-for-money purchasing. As a result, certain products demonstrated outstanding growth rates in 2012/2013, while less sophisticated devices such as feature phones showed declining trends at the end of the review period.

At the end of the review period, Ukraine remained behind many of its Eastern European counterparts in terms of technology, communications and media. Even though Wi-Fi and 3G internet were no longer novel notions, rural areas lagged behind big cities such as Kyiv, Donetsk, and Kharkiv. A much better situation was with cell coverage – using a mobile phone was possible practically in all corners of the country. Nonetheless, the underdeveloped nature of media and communication allowed Ukraine to see rapid growth levels in broadband internet subscriptions, online ad spend and smartphones take-up at the end of the review period, with the same bright growth prospects translated further over the forecast period.

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