Domestic electronics, electrical home appliances and IT&C market, head for 1bn euros

The domestic electronics, electrical home appliances and IT&C market is worth just below one billion euros, with the IT&C segment accounting for 25%, black electronics 35% and white electrical home appliances for 40%, according to the estimates of the Flamingo International group. "The domestic market is witnessing strong growth and is expected to see an accelerated growth rate of around 10-15% per year in the coming period, matching the current levels of other markets in Central and Eastern Europe, such as the Czech Republic and Hungary, in around 3-5 years," stated Jiri Rizek, chairman of Flamingo group. At present, the markets of Central and East Europe are ahead of Romania by 40-50%, with a value of approximately 1.4bn euros. "Although in Romania, owing to the large population, the sales volume on the IT&C segment is a little larger than the level registered in Hungary and the Czech Republic, there are still significant differences in terms of sales value, primarily because Romanian consumers' have a higher awareness of prices compared with Central and East European markets. Thi s generates larger sales volumes on the low price segment," explained Rizek.