Consumer Spending In An Economic Recession

In this economic recession, product strategists at consumer device and service firms are going to have to pay close attention to tightening budgets internally while staying on top of shifting consumer priorities. An evaluation of purchase intentions can determine which products consumers see as essential, and which they consider a luxury; mobile phone and Internet service, for instance, remain steady, while momentum for newer products such as personal navigation devices and satellite radio will slow. While consumer spending on technology will decline during the recession, not all of the news is bad — especially for technologies that provide an affordable alternative to more expensive activities.