Many consumers in Germany want to spend more on consumer electronics, kitchens, cars and travel in the near future, according to a recent survey conducted by GfU. However, when comparing the willingness to purchase a television set to the actual amount spent, there is a big discrepancy.
For instance, new TV sets are often purchased ahead of major sporting events. Just under 11% want to increase spending on their TV set or home theatre, while 13% of respondents said they want to invest in a car and 7% want to buy a new hi-fi or surround system.
The average price of all TV sets sold is currently €635 (about $745). Those surveyed said they are willing to spend an average of €850 (around $995) on their next TV. 40% plan on spending more than €1,000 (approximately $1,170) and 17% want to invest over €1,500 (about $1,755).
Christmas and sporting events are popular occasions for a new purchase. However, just 5% of respondents said they wanted to buy a new TV set for the World Cup.
Analyst Comment
We’re assuming that the 5% that wanted to buy a new TV for the World Cup was probably before Germany got knocked out! (BR)
