Consumer durables industry to touch $34 billion by 2025: Report

Interestingly, a majority of the sales will continue to come from general trade. Currently, general trade accounts for 69% of the current market share by channel when it comes to the sale of electronics.

“Despite the growth in online channels, general trade will remain the biggest channel within durables- and will continue to remain so by 2025 as well. It is now becoming common to see retails shops having QR codes and card machines at the point of sale. Retailers are also open to expanding their online presence for driving sales,” according to findings of the report.

The report also pointed to digital adoption on account of retailers and traders of such goods. This, it said, could result in increased margins, greater competitiveness against online and organized brick and mortar, higher online sales, and easier access to working capital for retailers.

Such a digital-enabled general trade channel within the durables category will grow to account for over $3.8 billion in procurement by 2025.

Meanwhile, retailers and distributors will also have to engage across multiple channels as shoppers spend more time both online and offline.

“Consumers are actively embracing video in their shopping experience across categories, and are eager to do the same in durables,” it added.

That’s because the influence of digital is significantly high among shoppers of the category. Consumers typically browse websites, read reviews and consumer videos before making such purchases.

Nearly 46% of consumers watch videos before buying and 49% of consumers are willing to try video commerce offerings for electronics. “Review videos from other customers who have purchased the product and Tech Reviews on YouTube are two of the most popular options,” it said.