|New Gadgets Defy The Recession|
Despite the credit crunch and now recession a certain range of non-essential purchases defy the odds. A look at how clever gadgets have demonstrated thrift in the face of adversity
Thirst For New Gadgets Bucks The Trend
They have long been derided as nothing more than geeky big boys’ toys – but the demand for new gadgets could be about to hit an all-time high. Technology experts say sales of hi-tech electronic gizmos such as the iPhone are beating the recession thanks to a broadening appeal that extends beyond the traditional market of men and teenage boys. Sales of the latest gadgets such as mobile phones, satnavs, and games consoles such as PlayStation 3 and Wii, will help push technology sales past the £50bn mark by the end of 2010, according to market analysts Mintel.
The research says that between 2004 and 2008, annual sales of new gadgets rose almost £6.2bn (13%) to reach £49bn in 2008, and consumers are now even sacrificing nights out and leisure activities to continue to get their “gadget fix”. And in despite the current economic uncertainty, annual sales are forecast to hit £60bn by the end of 2014.
Manufacturers have incorportated aspects from different gadgets to make them more economical. The likes of the Apple iPhone does away with the need for a digital camera, video camera, MP3 player, PDA and web browser – avoiding up-front costs of buying the device through a manageable monthly subscription. Smartphones are being marketed around an ability to record video, take pictures, surf the web and do computer-like things.
The research shows that around 41% of adult internet users are going out less during the week than they were a year ago and, significantly, they are just as likely to be using their new gadgets, playing games now at home as much as watching television. The latest new gadgets are helping to ‘buck the spending trend’, with buyers opting to spend money on new gadgets to save money on going out to entertain themselves.
It is not just a case of being big boys’ toys or gadgets for men – youngsters and women of all ages too like to have gadgets that make our lives easier too. So, whether it is gadgets, gizmos novelty toys for him, for her for Birthdays or Christmas, buying them has never made more sense
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