Home & electric appliances market laments losses due to Covid spread
KUWAIT CITY, Jan 11: The recession caused by Covid-19 pandemic has devastated the electrical and household appliances market in Kuwait and the suspension of direct flights from the Kuwait International Airport to and from many countries that have large communities in Kuwait, such as India and Egypt has only worsened the situation.
During a random tour of the electrical and household establishment by the Al-Seyassah daily, it was evident the market heavily depends on the expatriate workers community who prefer to buy electrical appliances in Kuwait and ship them to their countries. However, after the flights were suspended these workers feel reluctant to buy anything. Most owners of these establishments say they hope flights to and from not only Kuwait but all countries of the world will resume and this will help activate the sales and will help the business community to make good the losses they have suffered over the months.
According to one official who works for a trading company, the recession hit the electrical appliances market since the beginning of February 2020 when Corona virus seeped into Kuwait and the numbers of infections have been fluctuating although this time around Kuwait is much better that the rest of the world – thanks to the Kuwaiti authorities for implementing strict controls.
However, the travel ban imposed on some countries, especially to countries which have large communities living in Kuwait, has hit the market because many of them were unable to go home during the summer and as a result they stayed away from purchasing household or electrical appliances and this situation led to losses incurred by the electrical equipment fairs of not less than 70%.
A salesman, who identified himself only as Adel, and works for a well-known electrical appliances company, said the company he works for, despite its history in the local market and its branches in most areas of Kuwait, had to terminate the services of at least 40 percent of its employees due to the unforeseen circumstances.
He added, the company since the pandemic no longer sells goods on installments, since many expatriates have now lost their jobs and are unable to pay their installments and in light of the state’s decision to adjust the demographics.
By Najeh Bilal Al-Seyassah/ Arab Times Staff