Nope. This piece is not about that Beatles song that says "the best things in life are free." For even though the recession-bound economy has made money scarce, most consumers have decided they still want to buy those cool, shiny tech toys and gadgets.

In fact, a study by market research firm iSuppli revealed that in 2009, a year hammered the worst by the economic slowdown, cash-challenged consumers opted to forego spending on desirables, such as restaurants, movies, and clothes. But buying electronics is entirely something else.

It seems that consumers, instead of going on vacation to faraway touristy locations, chose to splurge instead on new mobile phones, laptops, flat TVs, and other tech offerings.

Data from iSuppli showed that global revenue in the electronics market actually rose. Despite all those negative predictions about the market in general, consumers actually bought more electronics products and related services.

Worldwide per capita income declined 2%, a first since the end of World War II. However, smart phone shipments rose 13.1%, and LCD TV shipments expanded by 42%. Shipments of netbooks grew by more than 100%. Some recession we have there.

Social Retailing

Social networks, those online networking sites, might be good for other things besides having hundreds of friends and followers. An IDC Retail Insights report said that Web 2.0-based social phenomena can be and are being used by retailers to reinforce their ability to compete. The report further added that social networks, blogs, and product comparison Web sites can help retailers in attracting and influencing customers.

Also, these social networks can help retailers to analyze demand fluctuations and patterns, enhance their brands’ reputation, and extend customer support.

Kindle vs. iPad

Amazon.com has ruled the nascent but rapidly expanding ebook market with the Kindle electronic reader. This Alpha Male standing has helped the online retailer to “bully” publishers into submission as far as book pricing and marketing are concerned. The company usually sets the price of ebooks, and publishers are expected to meekly concur.

But things are about to change. Soon.

The iPad’s coming makes this possible. The tablet computer from Apple also moonlights as an ebook reader. And a cool one, the ever loyal Mac fanboys would add pronto. But Amazon executives are not actually losing sleep over this possibility.

Even if the iPad becomes the bestseller that it would most probably be, and iPad owners start reading ebooks using the latest Apple toy, Amazon would most likely emerge a winner still. After all, ebooks sold by the online retailer can be read on various platforms including the iPad of course.
Everybody wins.

That’s all for the meantime, folks. Join me again next time as we keep on watching IT.