The latest report from technology and retail analyst GfK has revealed a sharp decline in the value of the consumer electronics sector.
GfK found the consumer electronics market to have fallen by 26 per cent in comparison to April 2012.
The dwindling value is blamed on the digital switchover within the London region, along with last year’s build up to the 2012 London Olympics, which provided a significant boost to the market.
As a result, GfK warned that the consumer electronics market may continue to be unsettled throughout the coming months.
The report also uncovered further declines to the total durables market, which saw a decline of three per cent in comparison to the same period last year.
As a result, the market remains in negative territory.
Meanwhile, GfK emphasised the need for an online presence, with internet sales on the rise by 15 per cent compared to April last year, whilst reaming positive throughout the previous 12 consecutive monthly comparison periods.