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Technology Buying in The Recession - UK - June 2009

The term ‘technology’ covers a wide variety of sectors, but is in general one characterised by constant innovation. During the boom years, electrical retailers were able to capitalise on this by persuading consumers upgrade what they currently owned. This drove total sales of technology up by 13% between 2004 and 2008 (a total of £6.2bn). But the current recession now presents a challenge to retailers looking to continue this profitable cycle.

How can retailers and manufacturers motivate consumers to buy when economic confidence is so low? The report identifies who is most likely to buy technology right now, and why. At the same time, it identifies those that are unsure of buying technology and suggests ways in which spending can be encouraged. In doing so, it focuses on aspects of new technology that consumers think are the most important.

Main issues

  • What impact has the downturn had on the early adopter curve?

  • Are consumers less willing to take risks with their choice of new technology?

  • Which technology shoppers have been worst hit by the downturn, and how can retailers develop strategies to broaden the appeal of their products to other niches?

  • How are the average consumer’s technology needs changing during the downturn, and how can retailers best meet them?

  • Can consumers continue to keep up with the rapid change and innovations in new technology, especially when they have other pressing (financial) worries?

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Table of contents

  1. Issues in the Market

      • Main issues
        • Definitions
          • Abbreviations
          • Future Opportunities

            • No Longer Alone
              • Empowered by the Semantic Web
                • The Hybrid Portable Device
                  • Trading Up, Trading Down, Trading Over
                  • Market in Brief

                    • Long term potential
                      • Market values are down
                        • Coping with the recession
                          • Key factors consumers look for when buying
                            • Practically speaking
                            • Market Environment

                              • Key points
                                • Keeping up with new technology
                                  • Figure 1: Statements regarding new technology, 2003-09
                                • We are increasingly digitally enabled
                                  • Figure 2: Trends in digital device usage, 2007-09
                                • Personal disposable income stagnates in 2009
                                  • Figure 3: Trends in personal disposable income and consumer expenditure, 2004-14
                                • An aging population
                                  • Figure 4: Trends in the age structure of the UK population, 2004-14
                                • Rise of smaller households
                                  • Figure 5: Number of UK households, by size, 2004-14
                              • Market Size and Forecast

                                • Key points
                                  • Lower prices sustain the market
                                    • Figure 6: Technology and communications market, at current prices, 2004-14
                                  • Accessibility helps drive adoption…
                                    • Communications sector to fall in value
                                      • Home as a leisure venue
                                        • Figure 7: Cost of television sets owned, 2004-08
                                    • Strengths and Weaknesses in the Market

                                        • Strengths
                                          • Weaknesses
                                          • Who’s Innovating?

                                            • Touch screen innovations
                                              • Tactile sensitivity
                                                • Child-friendly laptops
                                                  • Holographic storage
                                                  • Companies and Products

                                                      • Figure 8: Leading companies in the technology market and examlpes of their brands
                                                    • Major players
                                                      • Apple Computer
                                                        • Asus
                                                          • Google
                                                            • Microsoft
                                                              • Nintendo
                                                                • Nokia
                                                                  • Research in Motion
                                                                    • Sony Corporation
                                                                    • Brand Communication and Promotion

                                                                      • Key points
                                                                        • TV packages enjoy greatest growth
                                                                          • Figure 9: Advertising spend within leading consumer technology categories, 2006-08
                                                                        • Internet grows as a marketing channel
                                                                          • Figure 10: Advertising spend across all leading technology categories over time, by channel, 2006-08
                                                                      • How Much Do We Know About Technology?

                                                                        • Key points
                                                                          • Economic conditions impact on awareness
                                                                            • Figure 11: Awareness of new technology currently available in the market place, June 2008-March 2009
                                                                          • Males most tech-savvy
                                                                            • Impact of age
                                                                              • Figure 12: Technological know-how, by age, March 2009
                                                                            • Relationship between income and knowledge
                                                                              • Impact of children on tech knowledge
                                                                                • Figure 13: Knowledge about new technology, by presence of children in the household, March 2009
                                                                            • How Has the Recession Impacted on Technology Purchases?

                                                                              • Key points
                                                                                • Who is still spending?
                                                                                  • Figure 14: Current economic downturn and purchasing of new technology, March 2009
                                                                              • What Do We Look for When Purchasing New Technology?

                                                                                • Key points
                                                                                  • Convergence focuses attention on battery life
                                                                                    • Figure 15: Important things looked for when buying portable and in-home technology, March 2009
                                                                                  • Portable devices – how important is touch?
                                                                                    • Impact of quality and brand
                                                                                      • Size less of a consideration
                                                                                      • What Would We Give Up to Be Able to Afford Technology We Really Wanted?

                                                                                        • Key points
                                                                                          • Most consumers are rational about new tech
                                                                                            • Figure 16: Things willing to give up (or cut down) to get an electronic device, March 2009
                                                                                          • Out-of-home leisure activities most likely to be cut
                                                                                          • The Impact of Technical Expertise on Attitudes

                                                                                            • Key points
                                                                                              • Experts most likely to keep spending
                                                                                                • Figure 17: Awareness of new technology currently available in the market place, by current economic downturn and purchasing of new technology, March 2009
                                                                                              • Technical expertise and things cut down on
                                                                                                • Figure 18: Awareness of new technology currently available in the market place, by things willing to give up (or cut down) to get an electronic device, March 2009
                                                                                              • Technical expertise and things looked for
                                                                                                • Figure 19: Awareness of new technology currently available in the market place, by important things looked for when buying portable technology/in-home technology, March 2009
                                                                                            • Appendix – How Much Do We Know About Technology?

                                                                                                • Figure 20: Awareness of new technology currently available in the market place, by demographics, March 2009
                                                                                            • Appendix – How Has the Recession Impacted on Technology Purchases?

                                                                                                • Figure 21: Current economic downturn and purchasing of new technology, by demographics, March 2009
                                                                                            • Appendix – What Do We Look for When Purchasing New Technology?

                                                                                                • Figure 22: Important things looked for when buying portable technology, March 2009
                                                                                                • Figure 23: Important things looked for when buying in-home technology, March 2009
                                                                                                • Figure 24: Important things looked for when buying portable technology, by demographics, March 2009
                                                                                                • Figure 25: Important things looked for when buying portable technology, by demographics, March 2009 (continued)
                                                                                                • Figure 26: Important things looked for when buying portable technology, by demographics, March 2009 (continued)
                                                                                                • Figure 27: Important things looked for when buying in-home technology, by demographics, March 2009
                                                                                                • Figure 28: Important things looked for when buying in-home technology, by demographics, March 2009 (continued)
                                                                                                • Figure 29: Important things looked for when buying in-home technology, by demographics, March 2009 (continued)
                                                                                            • Appendix – What Would We Give Up to Be Able to Afford Technology We Really Wanted?

                                                                                                • Figure 30: Things willing to give up (or cut down) to get an electronic device, by demographics, March 2009
                                                                                                • Figure 31: Things willing to give up (or cut down) to get an electronic device, by demographics, March 2009 (continued)
                                                                                                • Figure 32: Things willing to give up (or cut down) to get an electronic device, by demographics, March 2009 (continued)

                                                                                            Companies Covered

                                                                                            • Aldi Stores Ltd (UK & Ireland)
                                                                                            • Apple Computer UK Ltd
                                                                                            • Asda Group Ltd
                                                                                            • British Broadcasting Corporation (BBC)
                                                                                            • British Market Research Bureau (BMRB)
                                                                                            • British Sky Broadcasting Group plc (BSkyB)
                                                                                            • BT Group plc
                                                                                            • Co-operative Group
                                                                                            • Dixons Retail Plc
                                                                                            • Facebook, Inc.
                                                                                            • General Electric Company
                                                                                            • Google UK
                                                                                            • Government Actuary's Department (GAD)
                                                                                            • J. Sainsbury
                                                                                            • Lidl (UK)
                                                                                            • LOVEFiLM International Ltd
                                                                                            • Marks & Spencer
                                                                                            • Microsoft Ltd (UK)
                                                                                            • mmO2 plc
                                                                                            • MSN UK
                                                                                            • MySpace.com
                                                                                            • Nintendo UK Entertainment Ltd
                                                                                            • Nokia Corporation (UK)
                                                                                            • Office for National Statistics
                                                                                            • Panasonic
                                                                                            • Picasa
                                                                                            • Research in Motion Uk Ltd.
                                                                                            • Skype Technologies S.A.
                                                                                            • Sony Pictures Entertainment
                                                                                            • Starcom MediaVest Group
                                                                                            • T-Mobile (UK) Ltd
                                                                                            • Tesco Plc
                                                                                            • The Carphone Warehouse Ltd
                                                                                            • Union of European Football Association (UEFA)
                                                                                            • Virgin Media Ltd
                                                                                            • Virgin Mobile
                                                                                            • Vodafone Group Plc (UK)
                                                                                            • Waitrose
                                                                                            • Wm Morrison Supermarkets
                                                                                            • YouTube, Inc.

                                                                                            Technology Buying in The Recession - UK - June 2009

                                                                                            US $2,478.79 (Excl.Tax)