New Grover study reveals cost impact of consumer electronics around the globe.
A new global study by Grover has revealed the expense of in-demand electronics around the world, shining a light on problems with supply chain shortage and currency fluctuations in the midst of the pandemic.
The electronic price index collected data from countries known for manufacturing electronic goods, countries that are home to major electronics brands and countries with high electronics ownership rates per capita.
Researchers recorded the price of popular electronics in each country, collecting data from the largest local eCommerce platforms and brick-and-mortar shops in order to understand both markets.
Argentina was found to be the most expensive country to purchase consumer electronics in, with a total deviation of 67.34% above the average cost of common electronic goods. Hong Kong came in at the cheapest, with costs averaging at 16.46% below the median.
The USA and Indonesia came in close behind, with the USA at 14.97% and Indonesia at 14.53% below the median.
New Zealand and Australia made the top 15 when it came to the cheapest costs, both being below the median at 5.81% and 8.45% respectively.
However, out of 50 countries, New Zealand had the 36 most expensive electronics on the market.
Graphics cards had the highest deviation above the median price out of any item, at 166.84% above average, while the Playstation 5 was the worst impacted by global supply shortages, with availability in only 12 out of 50 countries in brick-and-mortar stores and 18 out of 50 on eCommerce platforms.
Grover’s VP international and growth Giacomo Dalle Vedove says that looking at the current climate is a big reason to explore the topic of consumer electronics pricing, and with the key role tech plays in our daily lives the demand will continue to get bigger.
“Technology is ubiquitous within the modern world and will only increase in importance as further advances are made.
“At Grover, we’ve witnessed the impact supply chain disruptions have had on the availability and affordability of electronic goods. Though we took proactive measures to maintain our own stock, the severity of supply chain disruption had market-wide ramifications,” he says.
Vedove says the reason behind the study is to prevent further ramifications for supply chain management, with the company highlighting the upcoming Black Friday and Christmas sales as a motivator for investigation.
“We decided to conduct this study to draw attention to the fragility of current supply chains and in the hope that these issues do not become commonplace.”
With uncertainty looming over the economic climate going forward, Vedove says that forward planning can give relevance to issues further down the road, with the study painting a good picture of how the consumer electronic industry has reacted to challenges.
“Access to technology is already an important aspect of modern living, and the availability and affordability of electronics across the globe could prove vital to any country’s future growth.
“Even though this study is intended to draw attention to the present time, supply chain challenges and economic inflation are relevant now as they will be in years to come.”