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Accessing The ASEAN Consumer Market: Electronic Accessories

Accessing the ASEAN Consumer Market: Electronic Accessories

Thanks to the rising affordability of ICT products and falling costs of telecommunication services, digital devices have become part of the daily life of ASEAN consumers.

This has boosted the demand for consumer electronics accessories, including peripherals for cell phones, laptops, digital cameras, home audio and wearable electronics.

A Battlefield for Global and Local Brands

In the mainstream consumer electronic sector, international brands such as Samsung, Apple, Sony, LG, Canon, Panasonic and Pioneer have strong presence in ASEAN. These global brands have developed strong consumer awareness and preference through aggressive advertising and appointing famous celebrities to be brand ambassadors.

Samsung dominates in most electronic categories, including smartphones, television sets and home audio, with the largest market share in Indonesia, Malaysia, and Thailand.[1]

That said, low-priced and mid-range smartphones from other brands, especially Chinese mobile companies such as Oppo, Vivo, Xiami, ZTE, Lenovo, Wiko, Asus and Huawei, are also vying to tap growth opportunities and increase their market footprint across ASEAN through various channels.

In ASEAN, the electronic accessories sector is highly fragmented with the presence of many premium and unknown brands.

Many established smartphone brands, like Samsung, Apple, Sony, Huawei, Lenovo, and LG are launching electronic gadgets to get a piece of this highly lucrative market. While global brands continue to ride built up consumer trust and aggressive advertising, local brands usually compete on price, with such brands are popular in Indonesia and Thailand.

In terms of electronic accessories, global brands such as Apple focus on premium products, like cables and earbuds offered in the Apple Store.

This has given ample room to new brands to sell similar products of near-identical quality at a lower price. For other products not covered by global brands, like multi-port wall plugs and portable chargers, there are numerous brands offering innovative electronic accessories, including Fitbit, Zebronics, Logitech, Portronics, Belkin, Philips, Targus, Plantronics, B&O Play, Seiko, Epson, Beats Electronics, Anker, and many more. However, a large proportion of players in the electronic accessories market are anonymous.

Key industry players in AESAN have high regard for electronic products from Hong Kong. They consider Hong Kong electronics and IT gadgets as creative and high quality. Armed with a deep understanding of both eastern and western markets, Hong Kong firms have superior commercialisation skills that can spin out innovative products more rapidly across the region.

Key Market Growth Drivers

ASEAN…

Source link : Accessing the ASEAN Consumer Market: Electronic Accessories by Hong Kong Trade Development Council

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