Electronic goods are top buy in the US this holiday season: IBM Survey

MUMBAI: A recent IBM survey in the US has revealed 55 per cent of consumers plan to spend some portion of their holiday budget on electronics.

An earlier IBM survey had indicated that two-thirds of consumers buying electronic products are seeking multi-functionality from their devices. 80 per cent of respondents in that survey said they would be willing to pay a premium for these services. The survey polled 1000 Americans.

This finding fuels the growing trend of convergence among electronics manufactures and continues the prospects for growth among service providers and manufacturers seeking to fill the information and multi-service opportunities.

IBM adds that both its surveys reinforce the emerging trend in the consumer electronics industry that consumers are looking for Meta-Value. It is not just the device, but the game changing nature of combining new product technologies with accessories, services, and content to provide a simple but complete solution. A solution that changes the way the consumer lives his or her life is what will stand out.

Expansion is key in a tight market: However despite this demand for consumer electronics, electronics companies are still plagued with tight profit margins averaging nearly three per cent.

One area IBM is advising clients to pursue is the expansion of after-sales service to capture more market share and widen their profit margins.

The demand for high-margin services is growing. Of those buyers planning to spend more than $500 on consumer electronics, approximately 65 percent said they would pay more for services on these purchases. In fact, this year alone, 54 percent of consumers plan to spend $500 or more on electronics. Nearly half of consumers expect better service and selection from the manufacturer, and more than one-third of manufacturer-direct shoppers want access to content and other services from the manufacturer.

Almost 41 per cent indicated that they would seek after-sales service from the manufacturer-certified service contractor, with 24 per cent choosing a private service contractor not affiliated with the store or manufacturer. Only 10 per cent of survey participants indicated they would seek service from the store where they purchased the item.

While the study found that two-thirds of consumers plan to buy from mass merchandisers, a surprising number (27 per cent) stated that they would make their purchases directly from the manufacturer.

Latest Reads
Mumbai Team franchisee owner unable to meet financial obligations towards Zee Maharashtra Kushti Dangal

Mr. Pranav Rajesh Dake, owner of Zee Maharashtra Kushti Dangal’s Mumbai team – Mumbai Astra has regrettably been unable to meet the financial obligations towards Zee Maharashtra Kushti Dangal (ZMKD), its players and technicians.

Television TV Channels Viewership
Zee TV gets ratings boost from Zee Rishtey Awards

Zee TV's recently concluded annual awards property, Zee Rishtey Awards, clocked the highest viewership ratings across award shows that took place in the last two years. As per the recently released BARC HSM weekly data (Urban + Rural) for the week 44 '18, it secured a viewership of 5495 TVTs, which...

Television TV Channels Viewership
No changes in Kannada, Marathi segments in BARC data week 44

In the Bengali space, Colors Bangla and Sony Aath swapped their fourth and fifth positions in BARC data week 44. News18 Bihar Jharkhand emerged as the new player in the market by securing fifth position. No changes were observed in the Kannada and Marathi segments.

Television TV Channels Viewership

Launched on November 19, 2014, EPIC celebrates the completion of four years on air, in which it has set aspirational benchmarks for Indian TV content.

Television TV Channels Music and Youth
Celebrating 100 years of Bengali cinema, Viacom18 and Film Heritage Foundation bring the 4th Film Preservation & Restoration Workshop to Kolkata

In line with the centenary celebration of the Bengali Film Industry, and with a purpose to encourage and give an impetus to film preservation and restoration, the 4th edition of Film Preservation & Restoration Workshop India (FPRWI) 2018 was today inaugurated at Kolkata’s Rabindra Sadan.

Television TV Channels News Broadcasting
Vimal Elaichi Pan Masala enters top 5 most advertised brands in BARC week 45

The Broadcast Audience Research Council (BARC) India has released its data for top advertisers and brands between 27 October-02 November 2018. The data is a reflection of top 10 advertiser and brands across genre on Indian television (U+R) : 2+ Individuals. The data demonstrates ads that were...

Television TV Channels Viewership
Zee Anmol back on top of Hindi channels across genres

Zee Entertainment Enterprises Ltd's (Zeel) free to air (FTA) Hindi GEC Zee Anmol was back to second rank in Broadcast Audience Research Council of India’s (BARC) weekly list of top 10 channels across genres in week 45 of 2018 (Saturday, 3 November 2018 to Friday, 9 November 2018, week under review...

Television TV Channels Viewership
MNX to premiere supernatural fright flick, ‘Wish Upon’

MNX, the preferred movie channel of the millennials, will premiere, American supernatural horror film, ‘Wish Upon’ for the first time on Indian television.

Television TV Channels English Entertainment
Hill+Knowlton Strategies India wins communication mandate for Discovery India

After a competitive multi-agency pitch, Hill+Knowlton Strategies, one of India’s premier communications consultancies

Television TV Channels English Entertainment

Latest News

Load More

Sign up for our Newsletter

subscribe for latest stories