August 10th, 2022, Kineree Shah
In a new YouGov study we asked consumers if they expect to spend more, less or about the same as last year on consumer electronics products such as gaming consoles, smartphones etc. More than half of global consumers say they will spend the same amount (54%).
But across 18 international markets nearly a third of consumers say they will spend less on consumer electronics in comparison to the previous year. Only about one in 10 respondents say they will spend more.
In Sweden (74%) and Denmark (72%) nearly three-fourths of consumers say they will spend the same amount on consumer electronics as last year. The numbers dwindle to half with the rest of Europe except for France (48%) and Poland (47%) where the market is split. Here two in five say they will spend the same while a close margin in both markets say they will not shell out more. In Germany, Italy, and Great Britain a third say they will spend less on consumer electronics as compared to last year.
The Asian market is divided. Two in five respondents from China (47%) and Indonesia (44%) say they will spend the same except Hong Kong where the percentage increases to two-thirds (66%). The UAE and Indian market are split almost on all three fronts. About a fifth say they will spend less on consumer electronics while two in five say they expect to spend the same. Out of all 18 markets, Indian and UAE consumers are expected to spend more on consumer electronics in comparison to last year.
Seeing the trends in North America (the US, Mexico, and Canada) nearly half say they will spend the same amount while about a third will spend less on consumer electronics than last year.
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Methodology
YouGov RealTime Omnibus provides quick survey results from nationally representative or targeted audiences in multiple markets. The data is based on surveys of adults aged 18 and over in 18 markets with sample sizes varying between 507 and 2004 for each market. All surveys were conducted online in June 2022. Data from each market uses a nationally representative sample apart from Mexico and India, which use urban representative samples, and Indonesia and Hong Kong, which use online representative samples. Learn more about YouGov RealTime Omnibus.