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Wednesday 16 January 2008

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A day doesn't seem to go by without a new product with a technological advance hitting the shelves. Are we slaves to the technology industry?

Now that we have the madness of Christmas and New Year over with, we have to start looking at a minor thing called “Reality”. The Reserve Bank of Australia has told us that Australians now have credit-card debts totalling $41 billion. Ouch!

Linked with this is research conducted by Roy Morgan, which has indicated that 78% of Australians own a DVD player, 35% own a MP3 player and 59% own a digital camera! Canon’s consumer imaging products group marketing manager Stuart Poignand says that “Assuming economic conditions remain favourable, we expect that digital spending by Australians will exceed $5billion by the end of 2007.

Australians spent over $1billion on LCD and plasma TVs, $294 million on digital cameras $175million on digital media players, such as MP3 players (from January until the run up to Christmas 2007)

With talk of a "credit crunch" in the near future will technology still have the power to dictate when we upgrade our equipment? Only time will tell!

 

 

Source: Money Magazine: Dec2007/Jan2008, Issue 97

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