Media-Saturn: sector development
in consumer electronics retailing
Sales in German consumer electronics retailing stagnated in financial year 2015/16 (−0.4 per cent). Media-Saturn did not benefit from any positive growth impulses, for example from product innovation, during the reporting period.
Losses in individual market segments in Germany such as IT and photography were compensated in particular by robust growth in the small electrical appliances area. Following a weak spell in late 2015 and early 2016, the important smartphone sub-market recovered and recorded higher sales in financial year 2015/16.
In the Southern European consumer electronics market, Spain recorded positive growth, although growth slowed compared to the previous year. Meanwhile, the already positive trend in Italy accelerated further in financial year 2015/16.
Trends in Eastern Europe were mixed. Poland and Hungary recorded sizeable growth rates, while the Russian market declined markedly due to the persistently challenging economic environment and low average oil prices over the course of financial year 2015/16. Turkey again recorded double-digit growth. The economic recovery in Greece was derailed again due partly to the elimination of state subsidies in the IT and telecommunication sectors.
Switzerland has not yet recovered from its move to unpeg the Swiss franc from the euro. Consumer electronics retailing continued its distinctly negative development in 2015/16.
Although generally regarded as saturated markets, Austria, Belgium, the Netherlands and Sweden all recorded solid growth.
Overall, the Media-Saturn group of companies continued to expand its market share in financial year 2015/16, raising its total market share across all countries to 13.4 per cent from 13.2 per cent.