BRIC Consumers Plan to Spend Big on Consumer Electronics
As adoption of many consumer technologies reaches maturity in traditional markets such as the United States and Europe, emerging markets are becoming increasingly important to the consumer electronics industry.
It is in the emerging economies of Brazil, Russia, India and China, where the latest edition of Accenture’s annual consumer electronics report finds reason to be optimistic about the industry’s future growth prospects.
Accenture’s report is based on a quantitative online survey among more than 11,000 consumers across 11 countries including the United States, Germany and the BRIC nations among others. The results show that, in terms of personal electronics, consumers from China, Brazil, Russia and India significantly outspent their counterparts from the United States and other traditional markets in 2012. Moreover, BRIC consumers reported very optimistic purchase plans for 2013 as well. While the American respondents on average expect to spend $970 on consumer electronics this year, Chinese respondents plan to spend $1,489.
It should be noted though, that the results are probably biased, as China’s rural population is very unlikely to complete an online survey, much less spend $1,489 on consumer electronics. The trend is clear though: consumers from emerging markets are hungry for technology and willing to shell out a lot of money for personal gadgets.
- Consumer survey: where consumer electronics were purchased 2011Consumer survey: where consumer electronics were purchased 2011
- Sales of the leading 10 consumer electronics retailers of the U.S. 2010-2014Sales of the leading 10 consumer electronics retailers of the U.S. 2010-2014
- Retail sales of household appliances and consumer electronics China October 2015Retail sales of household appliances and consumer electronics China October 2015
- Forecast: revenue consumer electronics repair and maintenance US 2008-2020Forecast: revenue consumer electronics repair and maintenance US 2008-2020
- Forecast: revenue consumer electronics and appliance rental US 2008-2020Forecast: revenue consumer electronics and appliance rental US 2008-2020
- Forecast: sales radio, TV and other electronic store retail US 2008-2020Forecast: sales radio, TV and other electronic store retail US 2008-2020
- Forecast: revenue consumer electronics repair Germany 2008-2020Forecast: revenue consumer electronics repair Germany 2008-2020
- Forecast: revenue audio and video equipment store retail Germany 2008-2020Forecast: revenue audio and video equipment store retail Germany 2008-2020
- Who may use the "Chart of the Day"?
- The Statista "Chart of the Day", made available under the Creative Commons License CC BY-ND 3.0, may be used and displayed without charge by all commercial and non-commercial websites. Use is, however, only permitted with proper attribution to Statista.
- Which topics are covered by the "Chart of the Day"?
- The Statista "Chart of the Day" currently focuses on two sectors: "Media and Technology", updated daily and featuring the latest statistics from the media, internet, telecommunications and consumer electronics industries; and "Economy and Society", which inlcudes current data from the United States and around the world relating to economic and political issues as well as sports and entertainment.
- Can Statista create customized charts?
Absolutely! For information on tailor-made and sector-specific
Charts of the Day, please contact Jan Ahrens