The Change In Consumer Behaviors Using Tech In 2020
In the past to have a laptop or desktop computer at home with pre-installed windows was fine. It did the job needed to be done, you could play a few games of solitaire and you were able to browse the internet, that way if your mother wasn’t calling your auntie on the phone interrupting your AOL connection.
Fast forward to 2020 when an off the shelf laptop is no longer good enough. Now consumers want to access the internet at breakneck speed, they no longer only want to download something but also to upload content, like their latest victory on Fornite or DOTA. They want to be able to film content whilst streaming on Twitch and they want to be able to communicate with their friends virtually. With COVID many people who experienced a strong social life have switched to gaming and the popularity of e-gaming has exploded.
One company to benefit from this boom is Logitech. Logitech reported their Q2 earnings yesterday, which shattered analysts’ expectations, causing the stock price to close up 16.38%. The reason for this sharp increase was due to the rise in demand for computer peripherals amid the work-from-home trend spurred by the Covid-19 pandemic. Sales of $1.25 billion, up 75% for the same period last year; the first time the company has breached the $1 billion barriers in terms of quarterly sales. Almost every product category saw growth during the quarter. Sales from mice, keyboards, and webcams were all higher than they had been during any of the previous nine quarters.
Gaming-Related Consumer Behaviors
Gaming-related sales also soared to $298 million, up to $137 million year-over-year. While many people already had high-quality web cameras and keyboards at home, the forced work-from-home conditions imposed due to lockdowns meant that many others had to upgrade their hardware to maintain their highest level of productivity.
In what ways have you improved your tech in 2020? Will you be investing in the latest gaming software? What do you think about NVIDIA’s new graphics card? Will you be streaming your gaming exploits?
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