Computer science exam | How the environment of uncertainty affects innovation and technology in industry and retail

The Unboxing Tech Market conference promoted by GfK Portugal served to show the trends seen in 2021, the changes in consumer habits and digital consumption, the challenges that can arise in a context of uncertainties such as the current one and the various conclusions they should have. an impact on consumers in the coming years in Portugal and Europe.

The context of uncertainty has had different outcomes for companies, negative for those that have not been able to adapt and positive for those that have had to face continuous change as an opportunity to relaunch their business. Among those who have won this period, there are characteristics such as real-time decision-making, the look at innovation and evolution through predictive models, the demand for new skills, flexibility and agility.

The consumer electronics market grew 1% in 2021 to 385 million euros and telecommunications reached 739 million euros, 16% more than in 2020, while IT grew 7% to 678. million euros. Teleworking, home study and the increased need for leisure at home are some of the factors highlighted for this growth, with the average price of electronic products increasing by about 20%. In the coming years, companies are expected to continually adapt and innovate to keep up with new market demands, explains the press release.

The household appliances sector also recorded an increase in the last year, with a longer stay at home which led consumers to seek solutions in the various categories.

To pass the time, to work or to study, the Internet and online have been great allies for consumers and businesses, with retailer websites proving essential in responding to consumer needs. The online sales segment recorded a 5% increase in 2021, with a market value of 3,045 million euros for the total market of consumer electronics, information technology, telecommunications, large and small household appliances and products. entertainment.

In Europe, the consumer climate recorded a sharp slowdown at the end of last year, penalized by the restrictions imposed by the resurgence of Covid-19 and by the increase in energy spending as the cold season approaches. The expectation of recovery ended up not being verified also due to the ongoing conflict in Ukraine.