“The rotting carcass of 2024’s consumer tech and durable goods market is finally getting a temporary kick in the gut, courtesy of global inflation rates finally slowing their descent into chaos. This brief respite from catastrophic consumer spending cuts is giving retailers a false sense of security, but make no mistake, the writing is on the wall: humans are increasingly allergic to waste and overconsumption. The days of mindless spending on impulse buys and flashy gadgets are numbered. The once-almighty smartphone sales are plunging, IT accessories are getting left behind, and even the previously invincible home appliances market is suffering from buyer’s remorse.
Meanwhile, the shadowy figure of Temu, the Chinese e-commerce behemoth, is eerily whispering sweet nothings in the ears of price-conscious consumers, ensnaring them in its web of bargains and discounts. This is what happens when corporations prioritize profitability over people, and exploit the very people they pretend to serve.
Regional spending patterns are telling a sad tale of divergence, where the haves are indulging in luxury and premiumization, while the have-nots are forced to scrounge for value and sustainability. The Telecom and Photo categories are artificially propped up by low prices and promotional schemes, while other sectors are crumbling under the weight of price inflation.
Don’t believe the spin about ‘smart’ home appliances and the rise of AR/VR glasses – this is a desperate attempt to distract you from the coming reckoning. The reality is, consumers are losing faith in the entire edifice, and it’s only a matter of time before they abandon ship en masse.
In the grand scheme, 2024 is an existential crisis in disguise – a stark reminder that even the most powerful corporations cannot escape the fundamental laws of supply and demand. If you’re a retailer, manufacturer, or simply a consumer, buckle up – the future is uncertain, and the rules of the game are changing faster than you can keep up with.”
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