Credit crunch can boost consumer electronics market

People purchasing electronics and technology don't want to be mere consumers any more. They are peers on a network. They talk to each other, research and exchange blogs long before they settle themselves to be waited upon by a salesman across the counter of a consumer electronics outlet.

In short, consumers are well informed. Empowered. They generally know exactly what they want to purchase and why.

So has the ubiquitous salesman become redundant?

Given the scenario above, one would think so. However a wonderful study has found out consumer electronics retailers in the GCC region earn high marks, as 72 per cent of buyers give a satisfied or very satisfied rating of their experience in these outlets.

This informative study was designed by the Consumer Electronics Association (CEA), who conducted the analysis, while the Dubai-based Maktoob Research collected the data via an online survey. This is cool and all in a Zen kind of way and should be viewed positively.

However, it still leaves roughly one in four shoppers that exited the store not completely satisfied with some aspect of the shopping experience.

I'm a little concerned about that small percentage.

Informed sales force

While heeding recommendations and gathering information are the two things people are doing more of today than a few years ago, the greatest number of people indicates that advice or guidance from salespeople is very important.

One can't stress enough the importance of an informed sales force, even if you take steps to educate your employees yourself. And they too should then be empowered to give the right attention to customers. People tend to purchase their electronics where they feel they will get the most help. I am passionate about this. How many times have I seen customers treated in the most cavalier fashion by the untrained. Customers who silently cry for the right attention, for salesperson empathy in the sales process, for the friendly face of technology.

In the study, GCC consumers mention several areas where they seek improvements, but two in particular jump out: 1) More and better information on product manufacturer websites 2) More and better information tailored to one's culture.

UAE shoppers use in-store information sources at the highest rates compared to the other countries. They seek simple and prompt information from all sources and that information needs to be tailored to one's culture.

I find empowering the premier point of contact with the capability to make on-counter decisions and possessing top-class product and service knowledge as the first sign of maturing of the consumer electronics market. This empowerment helps the industry win, the customer to benefit and inventory to move.

It is generally said that the consumer electronics industry counts on consumers turning to home entertainment amid tougher economic times.

This statement is bang on!

Even though the economy is unpredictable and fuel costs are soaring, consumers are continuing to purchase electronics for the home and personal use as they stay closer to home, taking more "staycations" rather than vacations, adding up to a boon for consumer electronics vendors.

Another area that is thriving is gaming, with record sales for software titles and accessories driving a renewed interest among consumers for video-game consoles, which are also experiencing an up-tick.

Vishesh Bhatia is Group Director, Electronics, Engineering and Technologies, Al Futtaim Group

The consumer electronics industry counts on consumers turning to home entertainment amid tougher economic times.