Latest news with #ConsumerTechIndustryTrends2025
New Straits Times
26-06-2025
- Business
- New Straits Times
Senheng eyes renewed growth as tech replacement cycle kicks off
KUALA LUMPUR: Senheng New Retail Bhd expects stronger demand for consumer electronics starting this year, driven by global replacement cycles and supported by its ongoing digital and omnichannel transformation. In a statement today, the group said it is enhancing its digital capabilities and improving both online and offline sales channels to expand market reach and capture greater market share. It said the strategy aligns with industry trends highlighted in NielsenIQ GfK's Consumer Tech Industry Trends 2025 report, which noted that global replacement cycles for key consumer tech products have already begun, particularly in Emerging Asia. Senheng said its transformation efforts are already yielding results, with online revenue rising 54 per cent and brand distribution revenue growing 50 per cent between 2023 and 2024. This momentum has continued into the first quarter of 2025. The group attributed part of this growth to stronger digital marketing efforts and engagement via its e-commerce platforms, the Senheng app, and social media channels including Instagram and TikTok. This has also helped expand its PlusOne loyalty membership, which now exceeds four million members. Executive chairman Lim Kim Heng said the group's 'Flywheel 1.0' plan is central to enhancing customer experience and market positioning. "We are refining our operations to deliver superior experiences at every touchpoint, from elevating our physical store network for immersive interactions to harnessing digital platforms and artificial intelligence for frictionless online engagement," he said. "Our comprehensive reach ensures we effectively connect with diverse consumers and are ready to capture the incoming consumer electronics replacement cycle, driving our next phase of growth." Senheng said its brand distribution business is also performing well, supported by an expanded portfolio of international household and personal care electronics. The group has also introduced more sustainable offerings, including home solar solutions launched with strategic partners. Looking ahead, Senheng expects demand to rebound following a period of subdued consumer activity in 2024, which it described as a market normalisation phase after the pandemic-era surge in tech purchases from 2020 to 2021. The company maintained a robust revenue of RM1.2 billion in 2024, and is confident of sustaining growth as a new demand cycle—typically seen every four to five years—takes hold. To support this, the 'Flywheel 1.0' blueprint includes 24 actionable initiatives across six strategic pillars focused on operational efficiency and innovation. Key initiatives include leveraging AI for precision marketing and inventory management, implementing new retail systems (NRS), establishing a Centre of Excellence, and upgrading digital platforms. The company is also optimising its omnichannel network by enhancing store productivity and executing targeted strategies and promotions to boost efficiency and sales across its retail footprint.
Mid East Info
22-05-2025
- Business
- Mid East Info
NIQ Unveils Consumer Tech Industry Trends 2025 Report for UAE and KSA region - Middle East Business News and Information
The report explains the driving growth in home entertainment, smartphones, health tech, and workspace tech In the UAE, premium purchases are being boosted overall by higher-income expatriates returning from Russia and foreign tourists to the UAE buying portable tech to take home with them Saudi Arabia's growth in gaming PCs and accessories will continue, driven by the social adoption of e-sports in the country Saudia Arabia (KSA) and the United Arab Emirates (UAE) are priority markets for premium smartphones, TVs, and laptops UAE/KSA, 22 May 2025: NielsenIQ (NIQ), a leading consumer intelligence company, released a Consumer Tech Industry Trends 2025 report, forecasting global Consumer Tech & Durables sales to reach $1.29 trillion – driven by emerging markets, replacement cycles, and premium innovation – in the year ahead. Emerging markets such as the Middle East are leading to global growth. Top 2025 Tech Trends: Strong economic sentiment in specific countries within the Middle East & Africa (MEA) in 2025 will continue to drive the region's overall demand for consumer technology. In 2025, brands selling into the Middle East & Africa must navigate fragmented consumer profiles and a crowded retail landscape. Success will depend on clear brand differentiation and tailored product ranges that balance price and functionality across diverse markets. Staying informed on global consumer trends is also essential, as MEA consumers rapidly close the gap in trend adoption. The 2025 forecast for regional sales of total Consumer Tech & Durables in MEA is USD 68B with 2% growth rate. The Revenue share of phones equipped with an AI processor, by region in MEA, is 32% of total sales In smartphones, foldables are a small segment, but volume demand is growing fast within Egypt and Saudi Arabia. 'Manufacturers and retailers should focus on creating solutions that address real-world challenges and elevate the consumer experience. This involves leveraging cutting-edge technologies to offer products that are not only high-quality but also user-friendly and impactful' , says Andrey Dvoychenkov, NielsenIQ General Manager APP. 'By doing so, they can build stronger connections with consumers who are increasingly seeking products that align with their values and enhance their daily lives.' On another note, we know that the tech demand is increasing across generations, but it is much more vocal in Gen Z (source: Consumer Outlook report 2024). To understand the differences between Gen Z (age 18-27) and Gen X (age 44-59), let's review a few numbers: 48% of Gen Z regularly uses a wearable device that autonomously tracks and learns their behavior. This number is only 31% for Gen X. In another point, 46% of Gen Z leverages AI in their mobile devices to automate and speed up their everyday decisions whereas it is only 34% for Gen X. As we see significant adoption of new technologies for younger generation, the demand and early adoption of any new technology or trend will be driven by Gen Z. Why These Trends Matter for 2025 NIQ's Consumer Tech Industry Trends 2025 report equips businesses with a forward-looking roadmap to unlock category growth, target evolving personas, and drive revenue through data-backed innovation. Download the full report to explore consumer tech's most promising sectors and strategic imperatives.
