A third of smartphone users will cut spending by 20pc or more on next device – Counterpoint

Study of seven countries finds UK consumers least likely to cut spending budgets

One in three smartphone users is intending to cut spending by at least 20 per cent on their next smartphone purchase, according to Counterpoint Research.

Counterpoint conducted a study across seven major smartphone markets: the USA, the UK, France, Germany, Spain, Italy and India. The market research firm found that nearly half of respondents across these countries are planning on delaying their next purchase.

However, of these countries, the UK and Germany had the fewest respondents intending to reduce their smartphone spending budget by more than 20 per cent, with 11 per cent and nine per cent of respondents respectively.

Additionally, two-thirds of UK consumers are considering buying a smartphone according to their usual plan, with 43 per cent considering replacing their device in the next year. Counterpoint also noted that operator stores continued to be UK consumers’ preferred purchase channel, followed by general electronics stores.

The fact that the coronavirus pandemic originated in China has influenced some consumer attitudes towards buying products made in the region. Indian consumers showed the highest anti-Chinese sentiment, with four in 10 saying they would not buy smartphones from Chinese brands. One in five American respondents said the same.

However, in the UK, nearly 90 per cent of respondents have no issue with buying smartphones from Chinese companies.