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Retailers and manufacturers missing out on billions of dollars in laptop...

Survey shows on average 71% of consumers in US and UK will buy new laptops every two years if offered innovative and irresistible guaranteed future value promotionsChertsey, Surrey, 22nd August 2016: On average 71% of consumers across the UK and USA will upgrade to a new laptop within two years if retailers guarantee them a rebate of 50 per cent on the original purchase price of their current model, according to a new survey of 1,000 consumers split between the two countries.

This could help reset the decline of the PC market due to longer upgrade cycles and mobile-device cannibalization as mentioned by Intel CEO Brian Krzanich at a recent investor conference.[1] Opia Survey Infographic The survey, conducted by polling firm Censuswide for risk-managed sales promotion expert Opia, reveals that 73% consumers in the US will upgrade if they are made such an offer, along with 69% in the UK. “Guaranteed future value (GFV) offers have huge potential to help retailers and manufacturers on both sides of the Atlantic bust out of ever-longer refresh cycles in the laptop market,” says Steve Gales, sales director at Opia. “With more than 17 million units shipped in the US in the last quarter of 2015 and an estimated nine million UK consumers obtaining a laptop or notebook in the year, the revenue boost from customers upgrading more often could be colossal.

The average US citizen, for example, spends $500 on a new laptop and if they do that every 2.5 years, instead of every five, retailers and manufacturers will see revenue rocket by more than $170bn in a five year period. “Many consumers are hanging on to laptops for five years or more, putting up with ever-poorer performance because they fear having to spend on a new device.

Although there are slight differences between the two countries, the survey shows that GFV can remove that fear, encouraging consumers to make new purchases more regularly.” The survey also reveals that 69% of consumers across the two countries view a new laptop as less expensive if the resale value is guaranteed to be 50% of what they paid for it, provided they upgrade within two years. “Since most respondents (59%) in the two countries have previously taken up some form of promotional offer to buy a laptop, they are already open to suggestion if the offer is compelling. Retailers who don’t act fast to implement closed loop upgrade promotions are subjecting themselves to ever-longer refresh cycles and lower revenues.” says Gales. The findings showed that in the US and UK, an average of 85% of consumers wait more than three years before buying a new laptop.
In the US, 69% said they did not buy a new PC or laptop because new models were too expensive and are waiting for the right offers compared with 63% in the UK. “These survey results demonstrate clearly how retailers and manufacturers failing to use risk-backed GFV promotional mechanisms are doing themselves out of a significant amount of business. One final example from the survey reveals 35% of US consumers and 30% of UK consumers said a 50% GFV offer could encourage them to buy a more expensive model when they come to upgrade”, concludes Gales. [1] http://www.fool.com/investing/2016/06/10/intel-corporation-ceo-brian-krzanich-explains-the.aspx -Ends- Notes to editorsOpia is an industry expert in risk managed sales promotions, with a proven track record in results-driven business and consumer campaigns for brand owners in the hi-tech, telecoms, FMCG, retail and automotive sectors.
Supported by a 24/7 customer service team working in 18 languages, Opia’s global reach enables it to offer multilingual redemption campaigns in over 60 countries, including EMEA, North and South America and Asia-Pacific. Opia is a subsidiary of media company Village Roadshow and has been an integral part of its Digital Division since 2015. Opia is compliant to the ISO 9001 quality management standard and the latest ISO 27001: 2013 standard for data security. For more information, please contact:Jen RookWhiteoaks PR+44 (0)1252 727313 ext. 276jenniferr@whiteoaks.co.uk

Security Think Tank: Cyber insurance no substitute good security practices

You cannot improve your data protection using insurance products without increasing costs. To get insurance protection you need to have good demonstrable, documented and maintained security practices in place, such as ISO 27001 certification, as well as additional requirements (ISO 9001, ITIL, dedicated skilled security staff etc).  If you do not have those security measures in place, or the measures you have do not meet the requirements set out by the insurance company, your costs to gain insurance will increase or you will not be offered insurance at all. Insurance is based on the assessment of risk and a company’s risk appetite, and those of an insurance company need to at least match in order for insurance cover to be issued. If you have all the required security practices in place, then insurance should cover for unpredictable events such as security breach occurring within say three hours of a critical patch being released ie insurance is no substitute for good security practices. Peter Wenham is a committee member of the BCS Security Forum strategic panel and director of information assurance consultancy Trusted Management. Email Alerts Register now to receive ComputerWeekly.com IT-related news, guides and more, delivered to your inbox. By submitting you agree to receive email from TechTarget and its partners.

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