How Much Do Australians Spend on Consumer Gadgets Every Year?

People using phones and tabletsIf you are looking for computer franchise opportunities in Australia, it is good to know that Australians spend $2.7 billion on gadgets per year, based on an analysis from the Australian Securities and Investments Commission.

The huge budget for consumer electronics indicates a need for repairs and maintenance services. Businesses would also spend more on computer technology in 2018, when their investments are expected to cost $63 billion.

Household Spending

In 2016, Australians spent almost $670 billion on general living expenses or around $74,301 per household. The figure may have changed today, but it could still be the same for consumer spending on electronics, especially now that the holiday season is just a few weeks away.

For instance, each household spent $17 on average for their mobile phones. This could now be higher after Apple recently launched the iPhone XR to be sold in their stores. Many computer stores took advantage of the strong interest by offering incentives and other deals with every purchase. On a business level, a computer franchise seems a more feasible venture, given that enterprises plan to increase their budget for technology investments.

Business Investment

An industry forecast showed that local companies’ budget for 2018 will continue to increase by the following year. Australian enterprises will spend on cloud computing, automation, and artificial intelligence that would be worth $65 billion in 2019.

Investments in computers and peripheral equipment will cost $14 billion, while software investments would reach $15 billion. Companies would even shell out $6 billion for hardware maintenance, which means that there is a potential for submarkets to cash in on the larger budget.

Whether you plan to buy a computer franchise for retail or corporate clients, the market is quite favourable due to the willingness of many Australians to spend on the latest gadgets and technology.