Majority of Americans willing to go into debt for an 'iPhone 5'
Following the news that Apple has begun sending out invitations for a special media event on Sept. 12, at which the next gen iPhone is expected to be CouponCodes 4u (www.CouponCodes4u.com), an U.S. coupon code website, has conducted an online survey to discover just how far some consumers are willing to go to update their tech gadgets -- and if they are willing to get into debt for the privilege.
CouponCodes 4u surveyed 1,909 Americans. All respondents said they owned at least one Apple product and are considering buying the iPhone 5 in the next couple of weeks. When asked on average to speculate how often they buy Apple products, not including accessories, 42% of respondents admitted that they bought more than two new Apple products a year, while over a quarter, 29%, said they bought one product per year. Just 5% of respondents said that they only bought a new Apple product when they "could afford it" and when they "needed" another gadget.
Respondents were then asked to calculate approximately how much they believed they spent on Apple products over the last six months. More than a third, 34%, of respondents said they spent more than US$1,000 on new Apple products and accessories.
Respondents were then asked whether they could afford to purchase the latest Apple gadgets and whether or not they have gone into debt to do so. Eighty-one percent of respondents admitted that they could not afford to "keep up with the latest" Apple releases and have purchased gadgets on "credit." More than half, 51%, of respondents said they had used a credit card or got a loan out in the last three years so they could be amongst the first to buy the latest iPad and iPhone.
When asked whether or not they would buy the "iPhone 5" if it's released later this month, 53% of respondents said that they were "likely to." When those respondents were asked whether or not they would be able to afford the latest phone, including upgrading fees with their cell provider, 71% said "no."
Respondents who admitted that they were willing to go into debt for Apple products were asked to stipulate their reasons why. Fifty-seven percent of respondents said they "felt left out" if they didn’t purchase the latest gadget, while 45% admitted that they simply liked to have the latest gadget. 39% said they "loved Apple products."