Research from GfK reveals that the UK is the largest market in Europe for consumer electronics, with a projected value in 2007 of €13.1bn. This compares with Germany’s €12.3bn and France’s €9.6bn expenditure, and despite their larger populations.
We Brits seem to love our gadgets, from MP3 players and flat screen TVs, to satellite navigation devices.
John Binks, Commercial Director GfK said “UK consumers have really taken to this new generation of products. Discussion in the industry has centred around declining prices, but is often forgotten that these new products are significantly more expensive than the generation of products they are replacing.”
“A few years ago we might have spent £15 on a portable CD player today we are happy to spend £100 or even£200 on an MP3 player. Perhaps the most extreme example is the Portable Car Navigation product, effectively replacing a £5 road atlas, we will spend £100, £200 or even more on these products,” he continued.
Let’s also not forget that we tend to pay more for our electronic gadgetry in the UK (grumble, moan).