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CREDIT CRUNCH CHANGES BUYING PATTERNS OF ELECTRICAL GOODS

Daily headlines about the impact of the credit crunch and further job losses throughout 2009 are having a deep impact on consumer purchasing trends of electrical goods, according to the region’s largest independent retailer.

However, the Heart of England Co-operative Society, which has branches across Coventry, Warwickshire and south Leicestershire, is reporting an increase in sales of top quality and budget brands on larger items such as washing machines, cookers and TVs.

Smaller electrical items such as microwave ovens and kettles are showing mixed purchasing patterns, according to the retailer. The news comes as the Society revealed its top selling lines in December.

The most popular lines of washing machines and tumble dryers included quality brand Bosch and value brand Beko. Refrigeration sales included Beko and Coolzone, whereas the most popular microwave oven lines included Sharp and Panasonic, at the higher end of the market, and Sanyo, at the lower end.

Bryan Wheatley, General Manager, Non-Food Division, said: “With the increasing headlines about the credit crunch we have seen a change in purchase trends in a lot of our products, particularly in electricals. For larger items the budget brands are doing exceptionally well, as are the top brands.

“With the downturn of the economy consumers seem to be either investing more money in electrical items which they expect to last for several years or snapping up bargains at exceptionally low prices and hoping they will at least see them through the difficult times.”

Last year the Society’s non-food division joined forces with the Co-op Electrical Buying Group – providing a wider choice of electrical goods, from TVs to toasters and from fridges to Freeviews, at very competitive prices.

Joining the scheme also allows the Society to offer more promotions and deals through volume purchases and end of line specials. Customers have also seen a faster, more efficient service from the Society as joining the Electrical Buying Group has allowed it to stock a wider range and enjoy higher levels of stock availability.