Vision - July/August 2008 - (Page 2)

ShApiro’S Spectrum on the consumer electronics horizon Make this challenge an opportunity to introduce consumers to our products’ unique value. Show Me the Value onsumer sentiment is the lowest in a generation. Retail sales in almost every industry are not only down—they are negative. Consumers have changed their buying patterns, reliance on brands and even dining habits, all because of a dismal view of the economy and their personal financial situation. With gasoline prices doubling, food prices rising, home prices falling and a soft stock market, consumer belt-tightening makes sense. Sellers of boats, jewelry, furs, new homes and fine clothes are feeling the pinch. Two million Americans had banks foreclose on their homes in 2007, and the number may be higher in 2008. It simply is not a pretty picture for our nation as both unemployment and prices rise. Our industry will not be unscathed by this triple witching cycle, but we will do better than most. We will benefit from the C economic stimulus checks. We will attract consumers focused on the analog TV cutoff eager to buy an HDTV or use their $40 government coupons to buy converter boxes. The Olympic year will boost TV sales. The end of the DVD format war will drive new purchases, and next-generation video games will drive gaming sales. I would rather be in consumer electronics than any other industry. It’s not only less impacted by inflation, it has an unmatched story. As consumers hunker down and cocoon in their homes, we Corbis/Jupiter Images can share the value story: any investment in CE products will return entertainment, education or information for only pennies an hour. CE products are a great buy, especially when amortized over the life of the product! Empathize with your customers’ financial concerns. Understand the self-fulfilling psychology of doom and gloom. But make this challenge an opportunity to introduce consumers to our products’ unique value. We are in the right place at the right time with phenomenal products. Let’s do our job and make sure consumers know that they will add much to their lives for a relatively small investment. • www.ce.org 2 July/August 2008 http://www.ce.org

Table of Contents Feed for the Digital Edition of Vision - July/August 2008

Vision - July/August 2008 Contents Shapiro's Spectrum In This Issue The Economist C4 Trends Visionary Embracing Disrupting Technology Vaulting Ahead with Your Brand International Risk Stop Boomerang Products CEA Newsline Tech Speak Tech Policy Going Global Eye on Business Market Insider Just the Stats

Vision - July/August 2008

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