Report Code: A12035 | Pages: NA | Jul 2023 | 1631 Views | ||
Author(s) : Roshan D | Tables: NA | Charts: NA |
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Pandemic disrupted the entire world and affected many industries.
Get detailed COVID-19 impact analysis on the Electronic Tealight Market
Request Now !Electric tealight is made out of plastic and LED, which emits a warm white color. Electric tealight can be remote or non-remote controls. The product gives a genuine and natural brilliant appearance. The battery life is usually lengthy and easy to use, even safe for youngsters. The environment is flameless, non-smoking and non-hazardous. In households, businesses and other venues, electric tealight are utilized as decorations. The rising demand for electric tealight in the residential and commercial sectors is fueling the growth of the electronic tealight market. Manufacturing companies are coming into partnership with e-commerce giants to affiliate their sales. The advent of the pandemic marginally reduces demand and sales due to constraints on operations in the business sector. The increasing population of the consumers, the increase in high disposable revenue, the changing consumer preferences and their shifting tastes and lifestyles are crucial drivers of growth in the electronic tealight market.
COVID-19 Impact Analysis
Top Impacting Factors
Market Trends
Introduction of new products with an enhanced feature
The manufacturing companies have to invest in R&D to innovate a new product that will retain the existing customer. A new lighting technology or a change of pattern in the flickering light feature is expected to impress the consumers. Different companies are offering the same products due to the intense competition in the tealight market. The introduction of new color combinations or dual lighting output will cause an impact on the consumer mind.
Poor quality is hindering the growth of the market
The companies are supplying inferior quality products to the consumers due to the intense competition. To keep up with the competitors, the companies are using defective raw materials for processing the final products to low the market price. The low quality dissuades users from buying tealight electronically and moving on to conventional candles.
High price electronic tealight is a restraint to the growth of the electronic tealight market.
Some of the manufacturing companies are offering high priced electronic tealight as they targeting high-class consumers for a business. The lower or middle-class consumers do not have an option to purchase the product due to the high price of the product. The inability of the companies to provide a mid-range product is creating a gap in demand and supply. The companies have to look for an alternative for the consumers who are unable to pay a high amount.
Key Benefits of the Report
Questions Answered in the Report
Electronic Tealight Market Report Highlights
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Key Market Players | Jinggoal International Limited, Instapark S.A., iamen Global Selection Imp & Exp Co., Ltd, Mr Light Electronics Co., Novelty Place Inc, Pchero Lights Co., AGPTEK Plc, Celebration Light Co., Inc., Shenzhen Jinhe Trade Co., Ltd, Frux Home and Yard S.A. |
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