Izvestia: warehouses in Russia are overflowing with electronics due to declining demand
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In Russia, warehouses with electronics were overflowing due to a decrease in demand. About it report Izvestia, citing a source familiar with the managers of several retail chains and an employee of one of the distributors.
“There are a lot of products in warehouses – some have more, some have less, but demand is falling, and gadgets need to be sold,” one of the interlocutors said. Both sources noted that the warehouses of importers were overcrowded with electronics.
According to the interlocutors, sales of smartphones, tablets and other gadgets in Russia decreased in the second half of March by about 30% compared to the same period in 2022. Sales decreased by the same percentage compared to January 2023. Another interlocutor added that the drop in demand has been noticeable since December 2022
Sales of smart watches, headphones and other accessories also decreased in the second half of March, depending on the category, by 10-40%, the source said. He expects demand for gadgets to pick up again by the end of the summer, as children get ready for school.
An employee of one of the distributors clarified that demand remains high for Apple equipment and Samsung. According to him, the gadgets of these brands are sold out quite quickly. Much less buyers are interested in buying electronics from Chinese manufacturers and unknown brands.
Distributor diHouse confirmed that low demand for electronics has been observed since December 2022. They expect a revival in the market after April-May. The company also said that comparing the market situation in March 2023 and 2022 is incorrect, since last year there was an increased interest in gadgets.
At the same time, Megafon claims that in the second half of March, the demand for gadgets, on the contrary, grew by 30% compared to January 2023 and by more than a third compared to the same period in 2022. Ozon also announced a significant increase sales. Eldar Murtazin, a leading analyst at Mobile Research Group, noted that this situation is relevant for “about half of the market participants.” He explained the growth in demand for gadgets from operators and marketplaces by sales.
In mid-February, Kommersant also wrote about the surplus of laptops in warehouses in Russia. According to the publication, at the beginning of 2023, about 1 million unsold gadgets accumulated on the Russian market. In particular, it was about laptops from Taiwanese MSI, American HP, as well as Chinese Xiaomi, Haier and Russian F +, Prestigio. The surplus was also confirmed in diHouse.
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