It’s the best and worst of times for merchants in the consumer electronics space.
After nearly a decade of turbocharged growth in a variety of segments, overall the consumer electronics industry appears to be slowing despite demand for new electronics and technologies such as:
- Virtual reality
- Internet of Things
However, demand for tomorrow’s consumer electronics in the medium term, according to research, is not likely to be great enough to offset stalling growth in traditional segments. The future, which promises new growth opportunities, can’t come fast enough for merchants in this industry.
If you’re in this space are you focused on the future?
Or are you too busy running your store, building a brand, or worst of all wasting time and money on a complicated ecommerce software that isn’t reliable, easy to use, or able to scale on demand?
If you fit any of these bills, we have something special for you.
Introducing the Shopify Plus Industry Report for Consumer Electronics
We’ve imagined the future, so you don’t have to.
The Shopify Plus Industry Report on consumer electronics provides merchants a behind the scenes look at the future of ecommerce and the trajectory, trends, and technology that are or will shape your vertical in the second half of the decade and thereafter.
We’re proud to say the report offers insight and imagination for tomorrow and beyond.
The reports are thoughtful, beautifully designed, and structured in a way that allows even the busiest of merchants to quickly learn:
- The growth, geographic, and demographic trajectories of the vertical
- The trends influencing the vertical and creating new risks and opportunities
- The technologies that are likely to intersect and reshape the way commerce is conducted in the second half of the decade and beyond
How to Use This Report
Use the Shopify Plus Industry Report on consumer electronics to obtain a deeper understanding of the state of your industry, its opportunities, and threats.
While overall consumer electronics industry growth is expected to slow to 1.5% in 2016 from years prior, opportunities for accelerated growth exist outside developed countries like the United States.
Emerging markets such as China and India, assuming manufacturers can offer electronics at affordable prices, are expected to grow at double-digit rates in the coming years. However, consumer electronics manufacturers will also likely confront strong headwinds currently impacting developed markets such as:
To many they’re more important than sex.
But smartphones, despite growth opportunities in developing markets, now comprise a maturing market segment hampered by what some call a lack of innovation that has resulted in nearly half of those surveyed recently saying they’re happy with their current phone and not planning to purchase a new one.
To offset this weakness, in part, consumer electronics makers are increasingly finding opportunity in the home.
The smart home segment includes:
What was a $7 billion dollar industry in 2015 is now forecast to grow to a more than $32 billion dollar industry by 2021:
The report also imaginatively outlines a future where tomorrow’s technologies collide and create opportunities for commerce that may not even exist today. For instance, ultra-personalized customer experiences are being powered by next-generation beacons that recognize individuals. In turn, those are amplified by artificial intelligence, virtual reality, and next-generation wearables:
Or consider what might be possible in a future where context-aware consumer electronics devices are equipped to anticipate and predict a user’s needs and actually improve a person’s overall health.
Advances in machine learning, natural language processing, and technology that can detect our emotions as well as interpret personal health data in real-time will likely combine in ways that make it possible for next-gen consumer electronics devices to be context-aware on a much deeper level than they are today or will be in the near future:
Who the Report Is For?
In addition to the research, insight, and future-looking angle of the report...
Our Industry Report on consumer electronics was created, in part, by merchants just like you.
It includes a discussion about the technology underpinning ecommerce and the role it ought to play in a growing business. Central in this discussion are actual Shopify Plus merchants who gave us their time and expertise to help us create this part of the report and generously reveal the secrets they wish they had known earlier in their ecommerce journeys:
The industry snapshots, shifts in consumer behavior, and emerging technologies briefly illustrated in the report have been included solely to provide you with actionable insight you can use to make data-driven decisions that powerfully differentiate your brand and help you intelligently chart a strategic course for the future.