The growth in MDA compared to March 2021 is +30% and rising. As expected, rising food prices have once again boosted sales of frozen food, leading to an increase in freezers (+42% in sales value). This is followed by washing machines and dryers, dishwashers (+13%), coolers (+8%) and built-in hobs (+7%). In terms of value, sales have grown almost twice as much as volume (+21%). As in volume growth, the leaders are freezers at +46%. In second – washing machines with dishwashers, +26%. Built-in hobs over +18%, refrigerators +18%.
This is not the first time we have seen differences between MDA and SDA. This time, it was -4% in sales units and -3% in value. In fact, the sales of hot beverage makers and vacuum cleaners have stalled. We noted in February that the latter two groups were “up,” but that increase was the smallest in recent years, and the same is true for March. Hot beverage maker sales in units were -4%, and value was -8%. Vacuum cleaner sales in units were -16%, sales in value -5%. These results were not influenced by fears about the future, but simply by market saturation. The good news is that irons continue to grow – units +19%, value +16%. Shavers also showed growth trends with sales units up +16% and the value of this group growing 6%.
This February was the worst for the TV market in recent years, both in sales value and units. February 2022 showed a decline of -15% in units sold and -7% in value compared to 2021. Being one of the most important groups in the market, any decline in this group directly affects the overall results of the Lithuanian market, especially sales in terms of value. Hopefully, this trend will not continue in the coming months.
After the March results, we still consider SMP to have the most potential for growth. Although we expected in February that March should be better, SMP group results have stalled for the first time in a long time. This could be due to the lack of flagship models on the market, but the growth should be compensated for, in the coming months.
Regardless of economic conditions, 2022 will not be a good year for the IT sector. The results so far show indications of a “normal” downturn after some very good few years. The biggest decline in units sold was seen in printers (-40%), notebooks (-22%), monitors (-16%) and media tablets (-8%). In terms of value – quite tolerable results, in general, the market fell only -3%. The biggest drop was recorded in printers -18%, notebooks – only -3%, media tablets and monitors remained almost unchanged. The good news is that the premium brands and their models are still doing well.