New research has shown that technology sales in the United Kingdom are booming, despite the adverse economic conditions.
The report, which was compiled by web-based market research company Mintel Oxygen (http://www.mintel.com/), has revealed that amid doubts over the condition of economy and prioritising savings for future, expenditure on technology and gadgets is growing in the UK, tech news site Computer Weekly reported on Wednesday.
"Most sectors of consumer spending have seen falling sales in real terms – mainly because of the recession- with only technology and clothing and adornment seeing significant real sales growth since 2009," read the report.
According to the report, Britons have spend £50.5 billion on technology and gadgets across 2009, and that the the communication and technology sector witnessed growth of 80 per cent over the last five years.
"Between 2010 and 2015, Mintel predicts that in current price terms, expenditure on technology and communications products and services will grow by a further 20%. This, however, translates into growth of 140% in constant 2010 prices," the report added.