Consumer electronics spending on the rise ‚ even in South Africa

According to the 17th Annual Consumer Electronics (CE) Holiday Purchase Patterns Study by the Consumer Electronics Association (CEA), spending on consumer electronics gifts will reach historic highs, despite an overall decline in gift spending. While this is an international statistic, Samsung believes it certainly is very illustrative of the local market.

‚Locally, this spend is certainly being driven by new, innovative and trendy technologies ‚ those technologies that provide a strong and enjoyable user experience,‚ says Andrea Hattingh, Public Relations Manager at Samsung.

Driven by the want for high-tech products and the changing consumer dynamic in terms of the way people prefer to communicate and entertain themselves, it is no wonder that consumer spending will increase ‚ especially over the festive season ‚ the perfect time for gift buying.

Continues Hattingh: ‚I believe that in South Africa the rapid uptake of 3D TV ‚ coupled with the increasing availability of 3D videos, Blue-Ray players and smartphones are among the top consumer electronics that will be purchased this festive season. With consumers wanting the newest, high-end technologies to take them into 2011, it is obvious then that those suppliers who provide these products will certainly notice increased sales and profits this year.‚

Not only did the survey point to the fact that consumers will be buying CE products as gifts this year, but it has been indicated that people will be buying themselves these products during this time too. Additionally, it was mentioned that a third of consumers’ budgets will be allocated to CE products.

‚If we look at the above statistics we gain a clear understanding of the drive towards technology and the increased need for fuller, engaging lifestyles. This presents us with a huge opportunity to continue to bring innovative products to the continent and to supply the market with exactly what is expected of us ‚ high-end, ground-breaking products that meet consumer needs and wants effectively,‚ concludes Hattingh.