Lisbon, 22 February 2024 – The first General Assembly of The European Consumer Electronics Retail Council (EuCERC) took place today in Portugal.
Representatives of the major Retail chains and groups specialized in the sale of Technical Consumer Goods (such Smartphones, Computers, TVs, Major Domestic Appliances, Wearable and Home Comfort Devices, etc.) from all across the European Union were hosted in the Headquarters of Worten in Lisbon for a broad discussion on the present and the future of the sector.
Aped (the Portuguese Retail and wholesale Association) and EuroCommerce (the European federation for Retail and Wholesale representing more than 5 million businesses and 26 million jobs across 27 European countries) were also present at the meeting.
Among the many issues, particular attention was paid to the European Green Deal and all the related pieces of legislation on Right to Repair, Electronic waste and Eco-design; the Assembly registered unanimous consensus on the target to increase the attention of companies and consumers vis-à-vis the most sustainable products.
The Assembly expressed deep appreciation for the wide range of actions performed by EuroCommerce regarding the proposed Late Payments Regulation and confirmed its support for the position paper released a few weeks ago .
It was highlighted that a mandatory reduction of payment terms will create financial difficulties for retailers, in particular SMEs. These businesses often rely on trade credit from their suppliers to finance their inventory and operations. If they have to pay their suppliers faster, which in the case of consumer electronics are mostly large global players, retailers and especially SMEs may face cash flow problems and have less access to credit for investment. This can limit their ability to grow, innovate and compete in the market.
The scale of refinancing required by retailers and wholesalers to cope with shorter payment terms can lead to higher prices and lower choice for consumers. This can put more pressure on consumers who are already facing financial difficulties.
The President of the EuCER Council Hans Carpels concluded the Assembly expressing heartfelt thanks to Worten for the perfect organization of the day and for the kind hospitality.
More info and contacts:
Meridian Communications
Via Cuneo, 3 – 20149 Milano
Ph. +39 02 48519553
Silvia Ceriotti 335 7799 816 silvia.ceriotti@meridiancommunications.it
Viviana Bandieramonte 329 4776 937 viviana.bandieramonte@meridiancommunications.it