This Day On The Street
Continue to site right-arrow
ADVERTISEMENT
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here
Stocks Under $10 with 50-100% upside potential - 14 days FREE!

Consumers Less Likely To Buy Single-Function Electronics, While Plans To Purchase Multi-Function Devices Are On The Rise, Accenture Survey Finds

Stocks in this article: ACN

Consumers are less likely to buy single-function electronic products in the next year, while intentions to buy multi-function devices have increased dramatically, according to a new Accenture (NYSE: ACN) survey. Accenture summarizes these annual survey findings in its new 2013 Global Consumer Electronics Products and Services Usage Report released today.

Conducted in September 2012, the survey explored consumer usage and spending habits for 16 types of consumer electronic devices, 11 of which perform a single function and five that execute multiple functions. Consumers’ intentions to purchase single-function devices have fallen or remained flat compared with the prior year. For example, the percentage of survey respondents planning to buy BluRay DVD players fell slightly, from 11 percent to 10 percent, while purchase intentions for digital photo cameras, digital video cameras, and game consoles remained flat.

In sharp contrast, the percentage of respondents planning to buy multi-function devices in the next year increased significantly, from 16 percent a year ago to 36 percent for desktop and laptop PCs; from 27 percent to 41 percent for smartphones; from 20 percent to 33 percent for HDTVs; and from 16 percent to 23 percent for tablet computers.

“The consumer electronics market is now predominantly a four-horse race among multi-function devices--PCs, smartphones, tablets and HDTVs,” said Mattias Lewren, managing director for Accenture’s Electronics and High-Tech industry group. “This development amounts to a call to action for electronics manufacturers. They need to focus squarely on innovative devices with multiple applications, from browsing to media consumption to communications in various settings. Consumers want ‘do-it-all’ capabilities in various sizes and user experiences that fit their different lifestyle needs.”

Some bright spots for single-function electronics

While purchase intent for single-function devices is largely flat or declining, a few bright spots emerged, namely basic mobile phones, global positioning satellite (GPS) devices, health and fitness devices and, to a lesser extent, eBooks. The percentage of survey respondents intending to purchase these devices rose, albeit from a relatively small base: basic mobile phones (increased from 6 percent to 10 percent), GPS (from 9 percent to 11 percent), health and fitness devices (from 7 percent to 9 percent) and eBooks (from 8 percent to 9 percent). But the functionality of even these devices is increasingly being integrated into multi-function products such as smartphones.

1 of 3

Select the service that is right for you!

COMPARE ALL SERVICES
Action Alerts PLUS
Try it NOW

Jim Cramer and Stephanie Link actively manage a real portfolio and reveal their money management tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
  • Weekly roundups
TheStreet Quant Ratings
Try it NOW
Only $49.95/yr

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
  • Upgrade/downgrade alerts
Stocks Under $10
Try it NOW

David Peltier, uncovers low dollar stocks with extraordinary upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
  • Weekly roundups
Dividend Stock Advisor
Try it NOW

Jim Cramer's protege, David Peltier, identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Alerts when market news affect the portfolio
  • Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
Real Money Pro
Try it NOW

All of Real Money, plus 15 more of Wall Street's sharpest minds delivering actionable trading ideas, a comprehensive look at the market, and fundamental and technical analysis.

Product Features:
  • Real Money + Doug Kass Plus 15 more Wall Street Pros
  • Intraday commentary & news
  • Ultra-actionable trading ideas
Options Profits
Try it NOW

Our options trading pros provide daily market commentary and over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.

Product Features:
  • 100+ monthly options trading ideas
  • Actionable options commentary & news
  • Real-time trading community
  • Options TV
To begin commenting right away, you can log in below using your Disqus, Facebook, Twitter, OpenID or Yahoo login credentials. Alternatively, you can post a comment as a "guest" just by entering an email address. Your use of the commenting tool is subject to multiple terms of service/use and privacy policies - see here for more details.
Submit an article to us!

Markets

DOW 17,882.89 +78.09 0.44%
S&P 500 2,070.36 -0.29 -0.01%
NASDAQ 4,766.2920 +0.9120 0.02%

Brokerage Partners

Rates from Bankrate.com

  • Mortgage
  • Credit Cards
  • Auto

Free Newsletters from TheStreet

My Subscriptions:

After the Bell

Before the Bell

Booyah! Newsletter

Midday Bell

TheStreet Top 10 Stories

Winners & Losers

Register for Newsletters
Top Rated Stocks Top Rated Funds Top Rated ETFs