NEW YORK –
The vast majority of consumers can’t function without their CE devices, particularly computers, a new survey suggests.
According to a 2010 Electronics Retail Survey commissioned by Eye, a seller of outdoor and commercial indoor ad space, fully 82 percent of respondents said they could not live without their electronics, and more than half (52 percent) said their CE devices define who they are.
The results are based on a random sample of 608 adults aged 18 to 64 who were surveyed online in August by pollster Toluna.
Computers were the overwhelming favorite CE product, cited by 82 percent as the one device they could not live without, far outpacing TVs (14 percent), digital cameras (3 percent) and MP3 players (1 percent).
Not surprisingly, 92 of shoppers said they planned to buy a computer within the next three years. The next most popular planned purchases included DVDs (85 percent), video games (76 percent) and digital cameras (74 percent). Half said they plan to purchase a PDA within the next three years while only 40 percent plan to purchase a 3D TV.
The majority (60 percent) also said they “cannot resist new gadgets.” Best Buy was the most popular brick-and-mortar destination for CE shopping, with 75 percent having purchased an electronics product there over the past year. Other frequented chains included Walmart (61 percent), RadioShack (40 percent), Target (36 percent), Sears (27 percent) and Apple Stores (26 percent.
Respondents’ favorite brands included: Sony (58 percent), LG (45 percent), Hewlett-Packard (39 percent), Samsung (36 percent) and Apple (36 percent).
The vast majority (99 percent) said advertising makes them aware of new electronics products, and more than half of those interviewed for Eye’s Electronics Retail Survey believe that mall advertising influences their purchase decisions. Ninety-seven percent of shoppers like seeing new electronics products advertised on larger formats, and 96 percent said it helps them choose between different CE brands.
Three-quarters of respondents said online advertising most influenced their purchasing decisions, followed by TV (73 percent) and word of mouth (69 percent). Rounding out the top five ad mediums were ads in shopping malls (57 percent) and magazines (46 percent). IBM said it utilizes sophisticated algorithms and 18 years of historical data, including U.S. Commerce Department retail sales reports, to develop its forecasts, which analyze both long-term trends and seasonal peaks to provide a highly accurate projection of industry sales.
Haydock added that disposable income and the household savings rate are both on the rise, which are indications of pent-up consumer demand.