EMERGING MARKETS DRIVING CONSUMER TECHNOLOGY – SURVEY
Consumers in emerging markets are far more interested in mobile technologies than those in mature markets, an Accenture survey on Consumer Electronics Products and Service Usage has found
The survey reveals that 94 per cent of consumers in emerging markets believe it is important that the technology brands they buy or use are perceived as the most innovative. Furthermore, 64 per cent of consumers consider the mobile phone their most important piece of technology.
According to a statement on Thursday by publicists, Fleishman-Hillard, the Accenture study also established that the extent of technology use among emerging markets consumers is also greater than that of mature markets. Therefore, emerging market consumers are most likely to take full advantage of the activities available on any one technology device.
'This study dispels the general misconception that mature-markets are leaders in technology adoption. Among other critical factors we established was that, even though the price of goods remains an issue in the purchase decision, emerging market consumers don't see it as a deciding factor,' says Mark Joseph, Director, Communications and High Tech at Accenture.
'Suppliers will also have to keep their eyes and ears open because consumers are relying less on the advice of friends, family and in-store salespeople for help with their purchase decisions. Instead, they value third party reviews and online platforms,' concludes Joseph.
Another encouraging finding from the survey was that consumers in emerging markets are willing to pay a premium for technology products that are marked as environmentally friendly. This is great news for manufacturers and governments, considering the fact that sustainability is high on the agenda across the globe.
The Accenture Consumer Electronics Products and Service Usage survey also established that consumers in emerging markets rank the importance of home-based connection lower than mobile connections. As a result, they value technology items such as mobile phones, MP3 players and portable gaming systems.
Another interesting outcome is that despite the global recession, 85 percent of respondents in emerging and mature markets spent money on consumer technologies in 2009. Most of the money was spent on Mobile or Smartphones, followed by Computers and High Definition Televisions. The outlook in spending habits for 2010 seems likely to follow the same pattern.