OVERVIEW: ENTERTAINMENT, RECREATION, AND HOBBIES PRODUCT PURCHASE INCIDENCE


Consumer purchases of entertainment products are highly dependent upon what properties are hot at the moment. Because they are far more faddish than other categories of products, like food and other consumables, we would expect to find significant ups and downs in purchase incidence of specific products from year to year—and we do!

For example, our 2003 purchase incidence survey was conducted while the latest Harry Potter book was on the best-seller list. As a result, books, magazines, and newsletters took over the top slot from prerecorded videos as the most purchased entertainment product category. On the other hand, in 2001, the last time the survey was conducted, prerecorded videos, music, and CDs were ranked number one. In 2003, purchase incidence of prerecorded media dropped sharply, from 79 percent in 2001 to 66 percent in 2003. This decline is an important issue for the record companies who claim that pirating of music from the Internet is the primary cause for lost revenue and decreased consumer purchase.

Among the 11 entertainment product categories included in the purchase incidence survey shown in Figure 7.1, only one product category shows significant growth in purchase incidence in 2003 over 2001 levels and that is sporting goods, up from 43 percent in 2001 to 48 percent in 2003. All the others are either about even or slightly behind purchase incidence in the 2001 sales year.

 

2000

2001

2003

Books, magazines, and newsletters

68%

78%

74%

Prerecorded videos, music, DVDs, etc.

66

79

62

Toys, games, and dolls

45

54

50

Sporting goods and exercise equipment

36

43

48

Computers and software for home use

40

50

47

Photography equipment and supplies

38

51

43

Pet accessories

35

42

41

Televisions, radios, VCRs, DVD players, etc.

38

46

38

Crafts, sewing, knitting, and needlework supplies

33

39

29

Audio equipment and stereo systems

31

35

26

Musical instruments

  

10


Figure 7.1: Entertainment Purchase Incidence

Let's take a closer look at each entertainment, recreation, and hobby product category through the rest of this chapter.




Why People Buy Things They Don't Need. Understanding and Predicting Consumer Behavior
Why People Buy Things They Dont Need: Understanding and Predicting Consumer Behavior
ISBN: 0793186021
EAN: 2147483647
Year: 2003
Pages: 137

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