The Spanish economy remained in recession during 2010. Real GDP declined by 0.15% due to the economic slowdown caused by a collapsing property market and the credit crunch, making consumers cut spending. Consumers marginally reduced spending on audio-visual, photographic and information processing equipment, whereas they slightly increased expenditure on telecommunications equipment. Unemployment went up, reaching 20% in 2010. Spanish debt was downgraded from AA+ to AA (under warranty), with a negative outlook forecasting prolonged recovery.
Current Impact
The credit crunch and the lack of liquidity in Spanish housing are causing more and more problems, keeping consumers away from the shops, bolstering forecasts for the economy to remain in recession.
Consumer expenditure on audio-visual, photographic and information processing equipment rose by 1% to reach around EUR7,207 million in 2010. Spaniards were more willing to buy telecommunications equipment, which was driven by the development of 4G technology and recent launches of new smartphones, with spending of EUR1,174 million in 2010, which was 0.4% more than in 2009.
Trying to improve the sovereign fiscal situation the Spanish government introduced a VAT increase in July 2010, raising it from 16% to 18%. As a result of the measure, consumer spending on consumer electronics increased slightly before July 2010, because Spaniards were afraid of the imminent big price hike in the sector and cut down overall spending on consumer electronics during the second part of the year.
Published: February 2012
No. of Pages:
Price : Single User License - US$1900
The Consumer Electronics in Spain market research report includes:
Our market research reports answer questions such as:
Current Impact
The credit crunch and the lack of liquidity in Spanish housing are causing more and more problems, keeping consumers away from the shops, bolstering forecasts for the economy to remain in recession.
Consumer expenditure on audio-visual, photographic and information processing equipment rose by 1% to reach around EUR7,207 million in 2010. Spaniards were more willing to buy telecommunications equipment, which was driven by the development of 4G technology and recent launches of new smartphones, with spending of EUR1,174 million in 2010, which was 0.4% more than in 2009.
Trying to improve the sovereign fiscal situation the Spanish government introduced a VAT increase in July 2010, raising it from 16% to 18%. As a result of the measure, consumer spending on consumer electronics increased slightly before July 2010, because Spaniards were afraid of the imminent big price hike in the sector and cut down overall spending on consumer electronics during the second part of the year.
Spain Consumer Electronics Market
Published: February 2012
No. of Pages:
Price : Single User License - US$1900
The Consumer Electronics in Spain market research report includes:
- Analysis of key supply-side and demand trends
- Detailed segmentation of international and local products
- Historic volumes and values, company and brand market shares
- Five year forecasts of market trends and market growth
- Robust and transparent market research methodology, conducted in-country
Our market research reports answer questions such as:
- What is the market size of Consumer Electronics in Spain?
- What is the fastest growing product category?
- What consumer electronics segments are growing the fastest?
- What are the major technology trends in new consumer electronics products?
- How has the economic downturn shaped consumer purchasing behavior when it comes to consumer electronics?
- How has the economic downturn shaped consumer purchasing behavior when it comes to consumer electronics?
