A new research study reveals that consumers are willing to pay more for high-quality audio electronics equipment, despite Companies like Harvey Norman “gutting” the price of high end gear in an effort to get a quick sale.The Consumer Electronics Association report found that four in ten (39%) consumers with at least a moderate interest in audio are willing to pay more for high end gear such as speakers, receivers, and amplifiers.
The report is good news for brands like Marantz, Denon, Harman Kardon, KEF and Bowers and Wilkins whose products are sold by distributors in Australia.
The CEA study, ‘Notions of Quality: Audio Expectations of Consumers’ found that consumers have varying opinions on which content formats provide the best sound quality.
For example, 43 percent of consumers consider FM radio to provide superior sound quality while a similar number (46 percent) consider the audio from HDTVs to be high quality.
“Sound quality depends on both the audio source and listening device, and manufacturers and retailers have the unique ability to educate consumers on what constitutes high-quality audio,” said Ben Arnold, CEA’s senior research analyst.
“Similar to HD and 3D video technology, quality audio is experiential, so we encourage consumers to do in-the-field research. Hearing the difference among superior audio products can effectively sway consumers to consider and purchase high-quality audio technology.”
CEA will reveal further results and insights of the study in a webinar on Wednesday, August 10th from 3:00 to 4:00 pm USA EST time. Australian distributors and retailers interested in the subject can join the webcast which is early in the morning in Australia on the 11th of August.
Arnold will lead the webinar and will address topics such as the profile of audio enthusiasts, what consumers consider elements of a quality audio listening experience, which elements of the experience are most important, and perceptions of which audio formats and devices provide high quality sound.
