Germanos is seeking a share of the steadily growing category of electrical home appliances, further enhancing competition in the electrical and electronics retail industry. The subsidiary of the OTE group will sell, through its wide network of 250 sales points throughout Greece, as well as through its online store, a wide range of products, such as coffee makers, toasters, mixers, hair dryers, electric toothbrushes and epilators or shavers. The chain’s new product range will also have vacuum cleaners – robot and non-robot – as well as ironing systems of all kinds, air heaters and radiators.
This move confirms the business restructuring in the retail of electrical and electronic goods in a year of new acquisitions in the sector amid the development of technology and the energy transition.
According to the latest data from GFK, the 11-month period of 2023 (January-November) for the Greek electrical and electronic goods market ended with a positive sign. The value of the sales in the 9-month period amounted to 2.92 billion euros, up 13% compared to the previous financial year.
However, the increase in sales volume was only +5%, which demonstrates that the phenomenon of inflationary turnover remains in the electrical and electronic goods sector.
Especially the sub-category of small devices showed a significant increase. According to market representatives, the small devices are gaining share due to the low cost of the products. Their sales in the 11-month period of 2023 rose by 19.8%. Small appliances represent 10% of the total turnover of the electrical and electronics industry. According to analysts, this is a product category with increased demand and a number of devices at an affordable price that improve the daily life of consumers.
