UK has £74bn of gadgets

by Richard Kilner

Story link: UK has £74bn of gadgets

First Direct has revealed that Britain’s love affair with gadgetry is stronger than ever, with over £74bn worth of gadgets currently owned and that figure is predicted to grow massively following Christmas.

More than 400 million gadgets are installed in homes through the UK, which, as an average, means 16 per household. The latest generation of videogame consoles, hi-def plasma televisions, home entertainment systems and MP3 players all combined with larger than ever marketing schemes are thought to be behind the colossal amount of hi-tech goods owned today.

Unsurprisingly televisions have the most spend on them in total, garnering £29bn. Computer and laptops are in second place, having £10bn spent on them.

The grasp of technology has widened far beyond basic entertainment, and now has a strong foothold in working and shopping habits. Over 16 million people frequently bank online, with an additional 8 million shopping online regularly.

It is estimated that the online shopping revolution will continue apace, with an expected increase in Christmas shopping via the internet up 42% year on year.

The head of retail at Deloitte, Tarlok Teji, explained that the retail sector was responding to the boom in online shopping with ever more stores creating websites through which their products can be marketed and sold. Approximately 51% of stores had such online facilities last year, whereas this year it’s 72%, a leap of over a fifth in a single year.

Teji went on to say that technology is not just the medium through which goods are bought it’s also increasing as an area of desirable luxuries. Consoles and MP3s are extremely popular items, with 44% of consumers reporting they will buy a computer game for friends/family this year, an increase of 8% from 2006.

However, older gadgets must be disposed of in a more considered manner, according to a directive from Waste Electrical and Electronic Equipment (WEEE). It is feared that many electrical goods may contain hazardous elements which could contaminate the environment.

Manufacturers and local authorities will take on most of the burden, though some will remain for consumers with possible higher prices for electrical goods or increased council tax.

It is also advised that individuals are careful to make sure they have proper contents insurance to cover their luxury electrical goods.