Electronics consumerism is at an all-time high. More and more people are inclined to buy new smartphones, laptops, cameras, headsets, speakers and so on each year. Part of this trend can be attributed to generally lower costs for gadgets. Prices for many items are not high enough to be completely out of reach of the average consumer.
The Rise of Budget Shopping
And yet, it’s worthwhile asking whether it’s appropriate to spend hundreds of dollars on a certain gadget. Not all consumers can afford an iPhone, the latest MacBook or Beats headset. There is now a thriving line of budget products that cash-strapped consumers are increasingly veering towards.
Consumerism, in general, took a hit following the 2009 recession. Many people are more frugal now but do not want to drastically alter shopping habits. Gadgets are also items that one can purchase and end up using for years to come. Therefore, people search for budget items that offer the best value for their money.
Budget Alternatives Vs. Brands
Modern marketing drives consumers to purchase brands. Companies spend millions of dollars to create brand loyalty. Successful brands, therefore, can charge a premium just for the sake of the brand name. The extra money consumers spend on big brands in the electronics industry, such as Apple, Microsoft or Samsung, is not always related to quality. Brands create hype, which is not related to quality at all. Budget buying, therefore, is a way to get around the heavily brand-focused marketing and instead focus on quality.
The Quality Issue
Budget consumerism is driven by a need to get the best quality items for the price. People expect the value of the item to actually reflect the price. Commonly enough, many believe that the cheaper the product is, the lower the quality must be. This is not always the case with electronics. A company can over-market a subpar product and turn a lucrative profit. A cheap product may come unbranded but still be durable. In the modern market, price doesn’t always reflect value. Consumers understand this trend and can be drawn to budget purchases.
The Bottom Line
Budget consumerism is a recent trend where consumers want to purchase gadgets without having to pay inflated prices. Budget consumers expect the low-cost products to offer value equal to or greater than the retail price. As there are many budget alternatives to popular branded products, consumers are increasingly trying to save money with their purchases.
Budget products may not be limited to generic companies either. Certain brands, like Dell, offer exclusive budget range items like laptops. Some brands, like MSI, specialize in alternative budget products. Budget products are no more ignored as cheap knockoffs. In the future, it can be expected that budget products will have a significant effect on consumer demand.
Eduardo Bridges is a former software engineer. He runs his own small business now. Gadgets have always been one of his passions. He specializes in following consumer buying habits with regards to electronics. He’s an advocate for responsible purchasing and writes articles about buying the best cheap gadgets online.