Our latest research shows that tech shoppers are dialing up their electronics shopping this year. To uncover the driving factors behind this surge, we’ve analyzed which product categories are sparking shoppers’ attention, how many brands they consider before making a purchase, and when they’re most likely to go all out on tech hauls.
These findings, along with many others, are detailed in our new report, The State of Consumer Electronics. The insights are based on our survey of 16,000+ global shoppers combined with commerce data from our global brand and retail partners.
Read on for a glimpse into what’s inside the report.
The world powered up their budgets in Q3
According to our data, shoppers around the world remain keen to splurge on the latest tech. In the US, UK, France, and Germany, 7 in 10 shoppers spent more or the same on electronics in Q3 compared to the previous year.
Japan, however, led the pack with an impressive 9 in 10 shoppers ramping up or maintaining their spend. South Korea also showed solid growth, with 6 in 10 expanding their budgets or holding steady for electronics.
Looking ahead, even more shoppers expect to continue this trend, with many planning to maintain or expand their tech budgets.
Shoppers flip brands like TV channels
Shoppers are becoming more open to exploring new options for their tech needs and will often experiment with different brands. When it comes to high-priced electronics, shoppers around the world compare at least 3 brands before committing to a purchase.
Notably, for their most recent purchase around a third or more of frequent electronics shoppers across a variety of categories and countries opted for a brand they hadn’t bought from in the past year.
Gadget lovers prefer to try before they ‘byte’
Electronics shoppers globally favor hands-on experiences, making in-person trials a crucial part of their decision-making process. Nearly half of all consumers, 44%, prefer to physically interact with tech products before making a purchase.
The appeal of hands-on experiences extends online. Frequent electronics shoppers are more likely to watch unboxing and review videos, with 35% engaging with this type of content compared to just 25% of shoppers in other categories.
From long scrolls to quick clicks
The path to purchase duration varies widely, with some shoppers taking as long as 49 days to make a decision, while others go from browsing to buying in just 32 minutes. On average, this process spans about 20 days, emphasizing the importance of an always-on strategy to capture the attention of shoppers at every pace.
Even up to the final moments before making a purchase, shoppers are still weighing their options. For example, over a third of laptop buyers continued to explore different brands right up to the week of their purchase.
Takeaways for Consumer Electronics brands and retailers
- Align campaign flight dates to capture peak sales. For example, sales for Video Game Consoles peak on Black Friday, with an average path-to-purchase of 20 days. This means buyers will start their shopping journey around November 9, 2024.
- Give ‘new to brand’ shoppers a reason to switch. With a third of electronics shoppers open to trying new brands, engage them with highly personalized ads that emphasize why now is the time to try something new.
- Stand out from the crowd. Because shoppers compare 3+ brands before splurging on electronics, retarget those who have shown interest in your brand with ads that highlight your key differentiators. Stay top-of-mind by giving shoppers compelling reasons to choose your product over the competition.
For more insights to supercharge your marketing, read The State of Consumer Electronics report.
