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UK biggest hit in Europe for consumer electronics

Retail

Research revealed by GfK confirms the UK's place as the largest market in Europe for consumer electronics, with a projected value in 2007 of €13.1 billion ($17.5 billion).In comparison, Germany's expenditure is projected at €12.3 billion ($16.5 billion) and France at €9.6 billion ($12.8 billion), despite their larger populations. 

Driving this impressive performance is the new generation of Digital products such as MP3 players, Flat screen TVs, and portable Car Navigation products. John Binks, Commercial Director GfK said „UK consumers have really taken to this new generation of products. Discussion in the industry has centered 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 ($29.9) 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 „The UK consumer's love affair with Digital gadgets seems to go on and on and with manufacturers coming out with ever more attractive, desirable products this relationship looks set to continue into 2008” (net4now.com)

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