The consumer electronics sector is growing with rapid developments in technology, product innovation and falling prices, it has become a more competitive industry than ever before. In the United States, consumer electronics sales forecasted to have a compound annual growth rate (CAGR) of over 6% between now and 2024.
Home electronics manufacturers are making strides in technology, affordability, and accessibility, reaching record revenue levels. In 2018, sales were up 3.9% from 2017, exceeding $318 billion. However, this uptick in sales has not come along without its challenges. In addition to increased competition, consumer demands are also on the rise. Creating a supply chain that keeps costs low, products moving and customers happy has become more difficult. Here are a couple of ways to increase the efficiency of your home electronics supply chain.
As major electronics and appliance manufacturers continue to develop new and improved products at a rapid pace, the industry’s landscape and challenges are also evolving. To navigate these changes, there are a few things that consumer electronics and appliance companies should keep in mind when it comes to order fulfillment and shipping.
One of the most popular product sectors in recent year has been consumer electronics. The American Institute of Certified Public Accountantsshowed that Americans spent up to 17% of their monthly mortgage on technology. With such a demand for these products it’s no wonder that so many new competitors continue to emerge in this market. It also is not surprising that e-commerce provides an ideal distribution platform for this industry. With that being said, there are a variety of new trends developing around consumer electronics fulfillment and truckload transportation. Here are a few.
The consumer electronics (CE) market hit an all-time high in revenue last year of $211.3 billion, a two percent increase from the previous year. CE is expected to grow again by over one to two percent this year as well. Another exciting trend in this sector is the growing role that e-commerce is playing. In 2012, the e-commerce channel accounted for $49 billion of CE sales. That number is forecasted to eclipse $108 billion by 2018.
At long last, the day has finally come. Your brand new flat-screen television has arrived at your home and you excitedly cut open the packaging and set it up, the new focal point of your living room. Gone are the days of squinting because the picture is not clear. However, as you tune into the Master’s or your favorite movie, you begin to notice something isn’t quite right. The green of Augusta is a little too yellow, and the yellow brick road looks gray. While this is definitely a disappointing turn of events, for many customers, the trials and frustrations of the “after-the-sale” supply chain can be even more so.