A disease that was supposedly originated in Wuhan Province of China has now spread in most parts of the world within a short span of time. The pandemic became uncontrollable as no vaccine has been discovered yet. This pandemic has forced many countries to remain in lockdown which has adversely affected their respective economies. People have stopped all the religious, socio-economic and cultural activities all around the world. Every sector of the world is suffering in some way or the other because of the lockdown imposed. People are working from their homes to contain the spread of this deadly virus. A lot of things have changed in this work from home situation.
A similar change was drop in the electronic sales in the COVID era. As per the reports the sales of the electronics went down by 50% in April-June during lockdown. Reason being, the stores were shut and people were not allowed to go out to shop unnecessary items. But it revived in the next quarter as the lockdown restrictions were eased off and the festive season was on its way. Although in most parts of the world the stores have not opened but the demand has gone noticeably high due to the work from home situation going on.
While several industries are still struggling to deal with COVID-19, electronics is still observing a surge in the sales of the products. The need to work remotely has gone up as the number of positive cases is increasing continuously. So, the sales of laptops, mobiles and other accessories like headphones, earphones, speakers are also increasing day by day. But since most of the electronic goods were imported from China, the market is still fluctuating as the dispute with China is still going on.
Several known brands are taking their business online so as to meet the needs of people. LG Electronics India head for online business, Deepak Taneja said that online sales in few categories like Television, Mobiles, Washing machine has grown around two times as compared to pre-COVID days. Basically online contribution has doubled up the sale of electronics by 4%. But that is not the only surge in the industry. The prices of the products are expected to go high as well as 70-80% of the electronic components come from China and the Indian companies are only assembling and testing them in India. So, it is big news for domestic manufacturers.
Although the present situation has changed many things in the country and most parts of the world but due this work from home situation currently going on the sales of certain products have gone up. The increased demand of laptops, phones and other accessories is due to the COVID situation. Vikash Khetan from CouponzGuru.com, a leading coupons and deals aggregator in India says “Once the lockdown was relaxed in May, we saw a tremendous surge of about 5X in sales of Electronics such as Laptops, Headphones, Vacuum Cleaners and Dishwashers. The main reason for this surge was getting used to work from home life for some time to come. People are trying to find ways to continue their work from home and stay connected to the outside world as well. Earphones and headphones sales has also seen a surge as they provide a calm and soothing experience while working or after working continuously for a certain time period. The inevitable virus has caused a lot of chaos and destruction to economies and human lives. So, since the current situation is still evolving, how the pandemic will hamper the market eventually can only be speculated on, but it is certain to damage the economies in the long run.
