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Sydney, 2 April 2008: As predicted, Australians spent a record $5 billion on digital devices in 2007, according to research figures released today.
The latest Canon Digital Lifestyle Index (CDLI) reported that during the second half of last year, particularly throughout the Christmas period, Australians splurged more than ever before. A huge $2.89 billion was spent resulting in the highest half year result since the CDLI commenced in 2003.
These figures are among the findings from the latest CDLI and illustrate continued growth in digital technology categories. The CDLI is based on independent research commissioned by Canon and delivered by GfK Marketing Services using information on sales figures (units and dollar value) provided by GfK's retail audit panel.
"As Canon predicted, Australians spent a huge five billion dollars on digital devices last year, with the highest amount of spending occurring around the Christmas period," said Stuart Poignand, Marketing Manager for Canon's Consumer Imaging Products Group.
"The rapid development in digital technology is amazing. New products that do more are arriving faster and faster, they're getting easier to use and are available at lower and lower prices. This is fuelling substantial demand for digital devices from Australian consumers. More consumers are buying electronics they couldn't previously afford - compared to the 2nd half of 2006 the total value of digital device sales grew by 17.4% in the 2nd half of 2007 despite the average selling price falling for every category except gaming consoles and inkjet & photo printers. For example the latest CDLI report reveals digital still cameras experienced similar total revenues and higher unit sales despite a fairly substantial reduction in average price.
"Based on these results we foresee substantial increases year-on-year and look forward to 2008 when we predict Australians will spend over $6 billion based on the yearly increases we have experienced over the last four years. We believe spending will continue to increase despite a softening economy across the board."
The latest CDLI report reveals that digital camcorders and digital still cameras topped Christmas lists last year. These categories enjoyed their highest ever quarterly unit sales. Christmas sales also saw an increase in the purchasing of games consoles and digital media players which doubled from Q3 2007 to Q4 2007.
Other categories showing growth in the latest report include flat panel TVs and multi-functional devices (MFDs). The latest CDLI reveals the categories in decline include DVD players and single-function inkjet printers. Single-function inkjet printers are declining in direct opposition to the accelerated growth of MFDs whilst the DVD player market is slowly reducing due to the rise of DVD recorders and high definition DVD players.
Once again, flat panel televisions contributed to the majority of sales in 2007. Flat panel TVs accounted for nearly half (47 percent) of all spending on CDLI product categories. LCD TVs continue to generate more sales than their Plasma counterparts, amounting to 29 percent of total CDLI sales compared to a still-impressive 18 percent for Plasmas.
Highlights Product categories with the highest consumer spend are;
- LCD Televisions ($845.5million, 29% of total 2H 2007 CDLI revenues)
- Plasma Televisions ($514.8m)
- Digital still cameras ($404.1m)
- Games consoles ($334.9m)
- Digital media players ($315.3m)
- Digital camcorders ($142.6m)
- DVD Players ($128.5m)
Prices of products continue to drop in nearly all CDLI categories compared to Q4 2006.
- Digital Still cameras have seen the most proportionate price decline, with a year-on-year reduction of $72.53 (21 percent).
- Plasma TV average prices dropped by $399.05 (14.7 percent) while LCD TV prices reduced by $199.53 (11.6 percent).
- Games consoles were one product category that defied this trend in a big way, increasing their average price by $48.49 (18.3%).
Unit sales continue to increase in many product categories covered by the CDLI. Sales of products covered in the CDLI increased from 10.3 million units sold in 2006 to 11.5 million units sold in 2007.
At the same time, total sales value growth remains substantial and compared to the same period last year (2H 2006) total sales values for products covered by the CDLI increased by $428million (17.4 percent).
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