Home / Uncategorized / Gizmos & The Middle Class
Gizmos & The Middle Class
Gizmos & The Middle Class

Gizmos & The Middle Class

Technology has become so integrated into the fabric of our day-to-day life that we no longer consider it as technology per se. Technology is cool; it’s not for geeks. Everyone from young children to grandparents use the latest technologies without question, and for many, the hi-tech gadgets you own say a lot about status and fashion.

The technology market is one of the fastest growing markets of all time, and there is no doubt that we spend a higher proportion of our incomes on new technology than ever before. As Techno-savvy people at the forefront of technology, Are we going to see repeats of the Play Station 2 launch, all night queuing and fighting just to get the latest must-have tech toys? Just how far will people go to get their hands on the latest gadgets, and how is our desire for technology affecting other areas of our lives.

Research Methodology

* The research sample consisted of 60 of my relations and friends living in various regions.

* The male to female ratio was 48:52

* The respondents surveyed came from the MIDDLE CLASS consumer sector, and were pre-selected for a likely understanding of technology

* The age range of the consumers WAS 30-40YRS

Research Findings

Which Gadgets do we Own?

* The prevalence of gadget ownership is extremely high. 93 per cent of the total sample size own mobile phones, 73 per cent have a laptop and 60 per cent own a DVD player.

* When asked which devices they could not live without, 46 per cent of them said their laptop and 42 per cent said their mobile phone.

Men Versus Women

* Women are practical purchasers of technology goods. They are more influenced than men by functionality and time or cost savings. Nine in ten women buy for functionality.* Men are more driven by the buzz they get from new gadget purchases, a fifth will buy on this impulse alone.

* Men are more likely to be disappointed with the gadgets they buy. 16 per cent of men admit they are disappointed as soon as they have bought a new device because it didn’t meet their expectations.

* Women are more aesthetically motivated to purchase than men. 34 per cent of women, compared to 31 per cent of men, buy based on the look of a product.

* Twice as many men than women feel they can’t get hold of the latest gadget when they want it.

Funding Our Love of Gadgets

* For many, technology purchases have become more important than buying other luxury goods. In order to afford new gadgets, nearly a fifth will give up CDs and make-up, 14 per cent will save money by not going out for a week and 6 per cent choose to forgo a holiday in order to be able to afford the latest hi-tech gadgets. * Although more than three quarters of save-up to buy the latest gadget, seven per cent rely on their credit cards to fund their shopping sprees.

The Social Impact of Gadgets

* The importance placed on technology goes beyond spending, it impacts social lives too. A third of them admit they would rather stay in and play with their new tech toys than go out.

* Technology may not be a wholly positive innovation for business. One in ten admit they would feign a day’s sickness in order to play with their new gadgets, rather than go to work.

Our survey found that purchasing decisions were strongly influenced by factors such as “the buzz” a new gadget provided, the “show off value” it holds with friends, and looks, rather than necessity and functionality. In many cases consumers admitted they will forgo other luxury purchases, such as holidays, make-up and CDs in order to be able to afford the latest gadgets. Other consumers also admit they would shun their friends and stay in so that they could play with their new technologies. Additionally, a surprising number admit they will willingly go into debt to buy the latest gadgets.

These trends illustrate how technology is having an increasingly emotional impact on our lives and some of the findings indicate that to some extent we are actually becoming gadget addicts.

Men Versus Women

* Women are practical purchasers of technology goods. They are more influenced than men by functionality and time or cost savings. Nine in ten women buy for functionality.

* Men are more driven by the buzz they get from new gadget purchases, a fifth will buy on this impulse alone.

* Men are more likely to be disappointed with the gadgets they buy. 16 per cent of men admit they are disappointed as soon as they have bought a new device because it didn’t meet their expectations.

* Women are more aesthetically motivated to purchase than men. 34 per cent of women, compared to 31 per cent of men, buy based on the look of a product.

* Twice as many men than women feel they can’t get hold of the latest gadget when they want it.

Funding Our Love of Gadgets

* For many, technology purchases have become more important than buying other luxury goods. In order to afford new gadgets, nearly a fifth will give up CDs and make-up, 14 per cent will save money by not going out for a week and 6 per cent choose to forgo a holiday in order to be able to afford the latest hi-tech gadgets.

* Although more than three quarters save-up to buy the latest gadget, seven per cent rely on their credit cards to fund their shopping sprees. a third of Middle Class will buy gadgets on their credit cards and a fifth will borrow the money or go into debt.

The Social Impact of Gadgets

* The importance placed on technology goes beyond spending, it impacts on social lives too. A third admit they would rather stay in and play with their new tech toys than go out.

* Technology may not be a wholly positive innovation for business. One in ten admit they would feign a day’s sickness in order to play with their new gadgets, rather than go to work.

* Owning the latest gadget is a serious business. Over a quarter spend several days researching by looking at specialist magazines and talking to friends and shop assistants before making a purchase. Nearly a third spend as long as several weeks doing their homework. * Two per cent of them are so keen to get the latest gadgets first, they will queue all night. A further 9 per cent will shop abroad to beat the mass consumer rush. * They rarely feel guilt for buying new tech toys. Only 6 per cent feel pangs of guilt.

Conclusion

The result of the survey indicates that technology is more than revolutionizing our lives, we are actually becoming addicted to it.s buy technology for a range of increasingly emotionally biased reasons, such as looks, buying to show off or for the buzz. The fact that it does the job is just assumed.

We are also quick to tire of gadgets and move quickly on to buying new ones to get that buzz again. We are fickle buyers in this market – like fashion, gadgets have a short life span. This is not because the gadgets break or wear out, but because a better, smaller version is released within months of its predecessor.

People thrive on the status of owning the newest gadgets. Gadget addiction is hardly the most worrying of addictions; it is an extended statement of fashion and status. With a flood of new gadgets entering the market every day there will always be something to satisfy.


Source by Vijay Kaul

About admin

mm

Check Also

Fear of Technology – What and Why

Fear of Technology – What and Why

Did you know that a significantly percentage of today’s modern people actually suffers from a ...

Leave a Reply

Your email address will not be published. Required fields are marked *