Event Buzz: Electronics Retail Summit 8/25/2015
Electronics products are breaking down traditional category barriers and branching out into other sectors. For instance, fitness especially wearables like activity bands, smartwatches, smart eyewear and other health related devices are making their way into the electronics assortments and vice versa according to attendees at ECRM’s July Electronics Retail Summit event.
One attendee said, “I’m seeing growth in more non-traditional markets, fitness products are huge right now.” Consumers’ love of technology shows no sign of slowing down. According to The Consumer Electronics Association, they project that wearable sales will jump 61 percent to 30.9 million units this year, with revenue reaching $5.1 billion.
In addition to the wearables market, selfie sticks were a popular item seen throughout the event. For better or worse this trend has taken the industry by storm. Because the product traditionally has such a low price point there is a lot of opportunity for the selfie stick to be placed on shelves at a variety of different retail channels.
In addition to face-to-face, private meetings between buyers and sellers, Stephen Baker of The NPD Group addressed attendees during an educational session where he offered expert insight and commentary about consumer technology sales and trends across the U.S. and regionally, including retail and e-commerce, computer hardware and peripherals, holiday and yearly sales results, and analysis of new products and their impact on the consumer technology market.
Additionally, Stephen touched on the ways mature categories can continue to grow, how a strengthening economy helps to drive new sales volumes as well as ways that new categories can maintain their momentum.
All in all, from product trends to category predication the Electronics Retail Summit proved to be a successful event and provided buyers and sellers with an opportunity to connect with one another in an industry setting.
ECRM holds several other Electronics events throughout the year. Take a look at the events that may interest you:
Personal Fitness – April 27-29, 2016
Electronics Retail Summit – July 25-28, 2016