The FINANCIAL — The Hong Kong market is getting completely saturated with tech hardware, and consumers do not seem in a rush to buy a lot more, according to the latest Media Atlas Survey by Ipsos.
As ownership and purchase intentions of cameras, smartphones or tablets stagnates in the city while that of more traditional consumer tech declines, newer forms of consumer tech fail to excite the masses in great numbers, at least for the time being; ownership of sports cameras (such as Go Pro) lags at 6.4%, with only 4.4% of population considering purchasing one in the coming 12 months.
Similarly, flying camera drones are owned by only 3% of the Hong Kong population, although 4.4% also consider buying one.
Meanwhile ownership of wearable devices stands at only 9%, with 7.4% of consumers considering buying one over the coming year.
These numbers however hide clear disparities in terms of gender and age. Perhaps not surprisingly, ownership of sports cameras peaks in the 18-24 segment, while those aged 25 to 34 own more wearables and electronic beauty devices, and those aged 35 to 44 show most interest in flying drones.
While purchase intentions for the above products all peak for the 18-24 group, it is those aged 55-64 and retired people who spend the most on consumer electronics, highlighting the importance for brands to not limit their marketing efforts toward the very much hyped millennial group.
Finally and more predictably, men still spent 48% more on consumer electronics than women in the past year – apart from the electronic beauty devices category, which is owned by 9.3% of women, with another 7.8% also indenting to make a purchase).