How to have good sales despite the dwindling global economy?
First of all let's look at some market data to better understand where the global economy is (source: Euromonitor International):
- 2015 will see the global economy grow at its fastest-rate in three years
- The low oil price looks likely to be a feature of the year as does the weak recovery in the eurozone which risks fizzling out all together with the spectre of deflation hanging over the region.
- Overall, the outlook for the global economy continues to be uncertain as risks remain pronounced.
- In December 2014 the oil price fell to below US$65 per barrel […] this has come at a time of subdued demand due to the economic slowdown in the eurozone and the manufacturing slowdown in China.
- The second half of 2014 and 2015 brings a sense of déjà vu with regards to the economic situation facing the euro zone. In 2015 we are forecasting real GDP growth of 1.1%.
- 2015, Europe will represent a combined consumer market of US$12,676 billion.
How to overcome the shifting economy playground?
All large market analysts agree in one aspect at least, there is a strong growth in buying power globally, but sellers need to be clever as to what they offer and where?
Offers need to contain the right products for the right buyer, they must have the correct brands and maybe the most valuable asset is the quality versus price ratio;
We will do our best to come with relevant market info every time we upload our stock; our offers are prepared according to what the market demands to help you keep up with the trends.
In one word you need to adapt and stay informed, this way you are prepared to offer exactly what the market requires.
So, what sells and where?
Even if most of the global trends show instability as far as the economy is concerned, the buying power is growing exponentially in almost all analyzed countries.
Consumers are looking towards products that help them save money and time, also ones that are energy efficient and compliant with the “green” trend.
It is clear that in 2014 Europe was focused on Small domestic appliances and according to market research agencies, this trend will continue in the upcoming 5 years; economy has driven the end consumer to prepare coffee at home thus the spiraling rise of coffee machine sales, to cook at home as healthy as possible hence the large sales is light fryers, grills, for processing products for healthy drinks and meals. The world follows albeit a little slower but the global trends are all lining up to be the same as in Europe according to all research data.
Online sellers adapted to the needs and these products families are the main focus on their websites, consumers set the demand and naturally manufacturers do their best to create the needed products, your sellers supply the demand and you as a wholesaler are the most important link.
Bestselling categories globally:
- Kitchen machines
- Coffee and espresso machines (single serv and automatic)
- Floor care products (innovative and extra functions rechargeable hand sticks and upright vacuums)
- Stand mixers
- Linen care (steam irons and steam generators)
- Personal care products
- Light Fryers
- Kettles, toasters and liquidizers
What is important to notice from all the data we see is that poor economics creates a more self-conscious end user that wants to spend on a product that offers both quality and low prices.
(Article written with help from Euromonitor International and GFK data for 2015 – 2019 on Western Europe and Global trends.)