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Trend Q&A: The tech perspective on inflation

Green electricity, APAC consumer habits, tech purchasing. Polaroid-style image of solar farm
WGSN Original Image, Zbynek Burival/Unsplash
Nov 02, 2022 By WGSN Insider

Green electricity, APAC inflation spending and the tech impact of the cost of living. That and more on today’s episode.

Want to know what’s next? Listen to the show where our experts from around the globe unpack your biggest challenges. This week, WGSN’s President and CEO Carla Buzasi takes us to London, Singapore and San Francisco. Hear from the friendly faces of our Consumer Tech team.

Watch the full episode below or read on for highlights of this episode:

Q: Is investing in green electricity tech worth it, especially considering the rising prices and fuel sources?
“Companies have relied on forecasting models that project high costs for transitioning to zero-carbon energy sources, stopping them from investing in clean energy as well as affecting governments’ decisions, diverting them from policies focused on the issue. However, Oxford University found a fast transition to a fully decarbonised energy system by 2050 could save the world $12tn. A fast transition would also be cheaper than a slow one, which is the path the world is currently on. Plus, it could provide over 50% more energy access worldwide.”
– Carol Aquino, Head of Consumer Tech, WGSN
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Q: How will APAC consumer buying habits for tech products change in this period of inflation?
“Recent research on retail spending showed six out of 10 consumers surveyed across India, China and Southeast Asia are looking to increase their spending this Holiday. This can be attributed to pent-up pandemic demand and greater resilience during the global economic slowdown. Shopping events such as Black Friday and Cyber Monday will see a surge in spending, with 34% of consumers looking to buy big-ticket electronic items.”
– Neo Ping, Analyst, WGSN Consumer Tech
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Q: What will consumers look for when they purchase tech products during an economic downturn?
“Consumers want good-quality, well-designed products with minimal but useful features at a price point that is affordable on a tight budget. A growing number of tech brands are introducing new gadgets designed and priced to appeal to the budget-conscious consumer. Known as inflation gadgets, these entry-level products can be stripped-down models that focus on essential features or smaller versions of successful products.”
– Lisa Yong, Director of Consumer Tech, WGSN
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