16.May .2021 19:00

BEKO: Georgia’s Electronics Market Has Shrunk

BEKO: Georgia’s Electronics Market Has Shrunk
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"Only financially strong companies remain in the market, and a large part of small and medium-sized importers could not withstand the impact of the pandemic" - this is how Beko Georgia assesses the situation in the Georgian electronics market in the second quarter of 2021.
 
Speaking to BMG, Mehmet Melek named the increase in the prices of imported products as the main problem, which he said was related to the increased transportation fee from China and the GEL exchange rate.
 
"Many home appliance stores were closed in Tbilisi and other cities, the market has shrunk. We are a financially strong company and at the expense of that, we were able to maintain the stores and continue working. I think exclusive brands that will have those networks will continue to work more firmly.
 
The main problem we have is related to prices, due to the increase in exchange rates as well as transportation costs, we had to increase the cost of equipment by an average of 8-9%. If before it was $3,000 to bring a container from China, now it has increased to $9,000. If this growth does not stop, obviously we will have to increase prices.
 
Sales have not decreased compared to 2019, we even had a better situation in March. There is a bit of instability this month due to the holidays, but we expect sales to improve in the coming months," Melek told BMG.