Compared to July, August performed better in terms of value in nearly all product groups, with the exception of refrigerators, and in terms of quantity, all product categories performed better as well, with the exception of washing machines, which were down 2 percent. Compared to last year, August had excellent numbers with all sectors recording a 20% increase in sales units, except SMP (2%), which has had scarcity issues. Overall, market value grew 21% year-on-year in August, compared to only 17% in July.
The year-to-date result shows slightly more moderate growth in the second half of the year, as we had forecast. If in July overall market growth slowed to 21% in units and 34% in value, in August the market fell another notch to 20% in units and 32% in value. Market momentum should continue through the end of the year. The MDA sector season continues, and though there was a decline in refrigerators compared to July, the market grew 19% year over year and 25% in value. Tumble dryers saw the biggest growth, up 78% in units, and 77% in value, followed by dishwashers with growth of 37% in units and 47% in value. Integrated technology (ovens, built-in hobs) up 35% in both units and value. Unfortunately, rain in August slightly slowed refrigerator sales by 5% in units, but value is up 12%. Washing machines look more modest 4% in units and value grew only 3%.
August brought the SDA sector back to 20 percent growth in units (July 12 percent in June 21 percent). SDA value grew as much as 50% in August. The biggest growth was again in vacuum cleaners at 54% and 78% in sales value with handheld vacuums and robots continuing to outperform traditional sledge vacuums. Coffee machines showed modest growth when compared to vacuum cleaners – only 8% in units and stable growth remains at 2% in value.
The TV sector, which saw a slowdown in July, stabilized in August. On a year-over-year basis, unit growth was also quite modest at just 4%, but value growth remains solid at 28%. This trend should continue through the end of the year. Volume will either stop growing or not exceed 10 percent growth, and value will settle at 20 percent.
SMP is already looking a little better, 2 percent, after a not-so-successful July (-2 percent decline). However, there are issues with the supply of goods and the numbers will remain inconsistent as long as the shortage continues. Sales value growth was 5%, while July was only 1%.
The back-to-school period drove the IT sector, with year-over-year growth in units at 23% IT. (July was 13%), and in value, growth was 24% (July value growth was 28%). This time, Tablets in the IT sector performed the best, growing 45% in both units and value. Notebooks grew 13% in value and 19% in units. Monitors grew 31% in units and 40% in value.