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Consumers cutting back on some tech items
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San Jose Mercury News (MCT) - Around the country, Americans bracing for hard times are quickly discovering that high-tech bling may be something they can live without.
Highlights
McClatchy Newspapers (www.mctdirect.com)
1/7/2009 (1 decade ago)
Published in Business & Economics
According to a recent survey by Forrester Research, more than 60 percent of respondents said the limping economy makes it less likely for them to purchase a handheld video player, a satellite radio, a smart phone, a video game console or a portable GPS.
"It doesn't matter which category you are talking about, people are evaluating potential purchases with a careful eye," said Charles Golvin, an analyst with Forrester Research, which released results this week of a second survey of 5,109 U.S. adults.
While anecdotes about the new frugality abound, these studies are among the first to take a scientific measure of how Americans are trimming their shopping lists in response to the economic crisis.
As consumer thrift spreads, new gadgets in particular are most likely to be hit. But so far, organizers of the Macworld Conference & Expo and the Consumer Electronics Show _ two of the most closely watched gadget shows of the year, both happening this week _ are bravely soldiering forward.
"All I can tell you is the economy does not seem to be affecting this show," said Charlotte McCormack, a spokeswoman for IDG World Expo, which produces Macworld.
Indeed, some must-have gadgets seem likely to be bought even if unemployment continues to climb.
Seven percent of the respondents to Forrester said they were more likely to buy a laptop or HDTV, regardless of the economy.
And few people are planning to cut back on services like the Internet, their mobile phone or cable television, Forrester found. While such services were considered a luxury only 10 years ago, today they are viewed as essential.
Six out of seven adults said they will not change their Internet service or may upgrade it, despite economic worries. Three out of four said they wouldn't change or might upgrade their mobile phone service. One out of three was strongly committed to keeping and possibly adding premium cable channels or HD television.
Golvin said he was surprised by the number of people who indicated they were keeping both their mobile phone line and land lines, rather than slim down to a single phone line. He said only 5 percent of people said they were canceling their land lines, roughly the same percent of people who were going cell phone only before the avalanche of failing banks and investment firms started this fall.
"Communication services are a must-have in a recession," the report released Monday stated.
However, Golvin cautioned that things could change if the economy worsens. Someone who is laid off may choose to pay for health insurance before the cable bill. For now, however, consumers are finding value in their cable and Internet services.
"For service providers, there is some good news," Golvin said.
___
© 2009, San Jose Mercury News (San Jose, Calif.).
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