COVID-19 & Tablets
Gain an understanding of whether COVID-19 has increased the demand and usage of tablets, in order to better understand if the market is worth investing in.
- Prior to COVID, the tablet market had been inhibited by the popularity of economically priced laptops and large screen smartphones.
- However, due to increased time spent at home, more consumers are interested in products related to home entertainment to improve quality of life, which may increase popularity of tablets.
- Globally, the key impact of COVID to tablet sales is related to supply challenges rather than demand.
- Given many of these items were sourced from China, in March there was a decline of 18% for tablet sales compared to the year before.
- Work from home trends may increase the demand for tablets following COVID, with the demand for laptops increasing by a third in Europe during this time.
- Online tablet sales are anticipated to increase, as retail shops and electronics showrooms of major brands, super markets, and hypermarkets are shut down, and consumers slow to return to them.
- Factory shutdowns of various manufacturers are expected to impact sales on the short term in some regions. For example, Lenova's factories being shutdown in India will drastically decrease supply and overall sales.
- However, these sales are projected to bounce back by the end of the year.
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