Price a Key Concern for Holiday Tech Shoppers

Holiday shoppers had price on their
minds when buying technology products this year, a survey from ABI research
finds.

The survey, conducted in August,
asked 2,000 consumers what their technology purchasing plans were for the next
six months–a period that included the high-traffic holiday season. It found
that shoppers put price first when it came to buying most products, but when
shopping for game consoles and Internet appliances, brand mattered most.

“Price-consciousness could easily explain how
the TV manufacturers ended up with surplus stock: higher-end TVs did not fare
as well as expected. It also forced many retailers and TV makers to offer
incentives, either discounts or bundles. In many cases these bundles included
3D glasses, Blu-ray players or game consoles,” said industry analyst Michael
Inouye in a statement.

Many surveyed said they planned to
make major purchases after six months–the time covered in the survey.

Best Buy had a tough holiday season with
lower-than-expected sales and a loss of market share. “Best Buy, from what we
could see, just didn’t discount as deeply as its competitors,” Inouye said.

Research director Janet Wise said
consumers are better educated about technology products now, changing their
decision-making behavior.  

“In the past, consumers may have known little
about what was available and instead focused on brand, or on the advice of the
retailer. Now we see more savvy consumers who look for the greatest value as
well as the best prices,” Wise said.  

 

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