$3.27 billion spent on digital products
According to the Consumer Digital Lifestyle Index (CDLI) released by Canon, Australians spent $3.27 billion on digital lifestyle goods in the first half of 2010, highlighting a huge desire for technological products.
The CDLI report is released every six months aiming to present a snapshot of consumer digital expenditure. Early 2009 saw huge growth, but sales growth in 2010 appears to have normalised. The total value of products reduced by 4.6%, from $3.43 billion in the first half of 2009 to $3.27 billion in 2010. Key influencers were the effects of six interest rate rises, economic growth uncertainty and the economic stimulus which may have influenced 2009’s results.
“The latest Canon CDLI confirms that Australian consumers still love buying new technology despite the uncertainly in the global economy, and the trend towards high-image-quality products we found in previous reports has continued in the first half of 2010,” says Darren Ryan, general manager of consumer product marketing, Canon Australia.
The research indicates that Australians acquired an average of 2.41 new digital devices per person in 2010 (up 13% on 2009’s first half). Demand for more products is further indicated by the fact that a large proportion of recent CDLI product purchases are for an additional device – an additional TV for the bedroom, another camera or second computer for entertainment. A further finding is that the purchase cycle for digital products has shortened compared to a year ago.
The top three categories to record growth in sales value were personal video recorders (PVRs), up 11%; DVD recorders, up 3%; and LCD TVs, up 3% compared to the previous six months. Much of this growth can be attributed to the digital switch-over and fierce price competition.
“The digitisation and proliferation of media platforms, the availability of affordable high-quality devices and the skyrocketing popularity of social media sites means there’s everything to suggest that discretionary spending for consumer technology will remain robust as we head into the peak shopping season,” says Ryan.