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Recession Hits CES; But Is Germany Immune?

by User Not Found | Nov 25, 2008

As the meeting invitations roll in, it's clear CES 2009 is going to be several notches down on the previous couple of years, in terms of visitor numbers and exhibitor presence. This CNET report sums up the situation nicely. Some companies, including major players like Cisco, are baulking at the on-site costs at the LVCC, and choosing instead to meet at hotels and other venues. And there has been a wave of hotel discounting in recent weeks. While general Vegas tourism is down, it is also clear there will be fewer convention visitors during early January than usual. Lower prices are great news for the rest of us - all we need now is a nice sunny 60-degree January. In contrast to the gloom elsewhere, meanwhile, German technology consumers seem to have forgotten the credit crunch. According to the GfU, sales of consumer electronics and communications products grew by 3.6% in the first 9 months of 2008 compared to the same period in 2007. The market has been kept alive by the TV sector, where revenues have risen a whopping 26.8%. Revenues in cameras, mobile phones and navigation devices, all once hot items, have declined. This is in line with the 2008 forecast I reported recently. As I discussed, German demand was influenced through the summer by major sporting events; the surge in TV sales would seem to confirm this. While the 9-month performance has been good, the last three months are as critical in Germany as they are in many other markets, so it seems premature to assume growth will continue at the same rate against a background of economic turmoil. For manufacturers' sake, I hope German consumers prove me wrong. Client Reading: IFA 2008: Internet and 3D Offer Hope During Europe's CE Recession Add to Technorati Favorites
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