‘Gadget freaks’ win as bookworms loose out
While the price tag of being a gadget freak plummets, the cost of being a bookworm has sharply risen, according to a report that shows prices in this ‘i-pod generation’ slashed by up to 50%.
The price of electrical goods such as DVD players, MP3 players and personal computers - continues to fall in price, according to Egg's latest retail therapy index (RTI), which measures a basket of goods and services reflecting the nation's lifestyle purchases.
"As consumer’s turn from tradition to technology it appears that their buying power goes from strength to strength," said Egg’s chief marketing officer, Alison Wright.
By contrast the cost of traditional forms of entertainment has shot up by almost 6% over the past 12 months, with books and newspapers also seeing price increases of 5%. These shifts suggest that the use of electrical goods – especially those relating to entertainment – are continuing to replace more traditional forms of recreation and so are being priced accordingly.
The cost of going to the cinema has jumped by a whopping 8.7% with DVD rental costs even worse at almost 14%.
In addition, the cost of being a bookworm has increased significantly over the past 12 months with prices of books and newspapers rising by twice the level of inflation – adding £33 million onto the total cost of reading. Over ten years the trend is even more dramatic with the price of being a bookworm growing by 41% while the cost of technical products has fallen by 74%.
Overall however, the index reveals that despite general prices increasing by almost 30% over the past decade, the cost of discretionary items have only increased by a fraction of this (0.5%), with key items seeing phenomenal falls in price
While the price tag of being a gadget freak plummets, the cost of being a bookworm has sharply risen, according to a report that shows prices in this ‘i-pod generation’ slashed by up to 50%.
The price of electrical goods such as DVD players, MP3 players and personal computers - continues to fall in price, according to Egg's latest retail therapy index (RTI), which measures a basket of goods and services reflecting the nation's lifestyle purchases.
"As consumer’s turn from tradition to technology it appears that their buying power goes from strength to strength," said Egg’s chief marketing officer, Alison Wright.
By contrast the cost of traditional forms of entertainment has shot up by almost 6% over the past 12 months, with books and newspapers also seeing price increases of 5%. These shifts suggest that the use of electrical goods – especially those relating to entertainment – are continuing to replace more traditional forms of recreation and so are being priced accordingly.
The cost of going to the cinema has jumped by a whopping 8.7% with DVD rental costs even worse at almost 14%.
In addition, the cost of being a bookworm has increased significantly over the past 12 months with prices of books and newspapers rising by twice the level of inflation – adding £33 million onto the total cost of reading. Over ten years the trend is even more dramatic with the price of being a bookworm growing by 41% while the cost of technical products has fallen by 74%.
Overall however, the index reveals that despite general prices increasing by almost 30% over the past decade, the cost of discretionary items have only increased by a fraction of this (0.5%), with key items seeing phenomenal falls in price
posted by tony at 7:00 PM
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