Gadget spending hit $5.72 billion last year

The company commissioned a report by Canon Consumer Digital Lifestyle Index (CDLI) compiled by GfK using information on sales figures.

It found, spending on tech gadgets in the second half of 2008 reached $3.3 billion - the highest half-year result recorded since CDLI started reporting in 2003.

Total sales for the Canon CDLI product categories grew several times faster than for the retailing industry as a whole.

Total sales for the entire retail sector grew by 3.3 percent over the year (from Q4 2007 to Q4 2008), whereas total Canon CDLI sales revenues grew by 10.1 percent over the same period.

Categories that defied the economic downturn were digital still cameras, games consoles, digital media players and flat screen TVs.

Darren Ryan general manager Marketing, Consumer Imaging Products Group, Canon Australia said the results indicate that despite reduced consumer sentiment and general economic uncertainty, the Australian technology market achieved very healthy growth in the second half of 2008, outperforming the retail sector as a whole.

"The Canon CDLI is a barometer of the performance of the technology sector, but makes no judgement on the broader economic conditions," he said.

"We understand from this and previous reports that technology is an important element in the Australian lifestyle and we expect it to continue to outperform other sectors on that basis.

"From Canon's perspective as a business and in our dealings with our resellers and other business partners the outlook for 2009 is positive relative to other sectors in the market.

"Resources on general business sentiment such as the ANZ monthly business survey can provide a broader perspective," Ryan added.

Sales during the second half of 2008 of digital lifestyle products covered in the Canon CDLI rose by 20 percent to 8.47 million units, while the industry revenue generated by the Canon CDLI categories increased by 14 percent to $3.296 billion.

Total sales for the Canon CDLI product categories grew several times faster than for the retailing industry as a whole. Total sales for the entire retail sector grew by 3.3 percent over the year (from Q4 2007 to Q4 2008), whereas total Canon CDLI sales revenues grew by 10.1 percent over the same period.

Categories that defied the economic downturn were digital still cameras, games consoles, digital media players and flat screen TVs.