At Grover, we witnessed first-hand how the pandemic caused disruptions to the availability of electronic goods globally. We therefore decided to investigate the cost of some of the world’s most in-demand electronics to better understand how taxes, supply chain issues, currency exchange rates, and brand pricing have affected the retail cost of electronic goods in different countries. Moreover, we felt it was necessary to conduct this study not only to compare the difference in prices around the world, but to monitor the growing issue of global inflation.
We began by assessing countries famous for manufacturing electronic goods—or being home to major electronics brands—in addition to countries where electronic goods are ubiquitous. We then selected 50 countries for in-depth analysis based on their import tariffs and whether they have experienced instances of currency fluctuation.
Next, we identified the world’s most common electronic items in order to achieve comparable data—from iPhones and Apple Watches to Smart TVs and Playstations—and found their prices in each country. To capture the full market, we found the cost of electronics in both online and brick-and-mortar stores, sourcing this data from each country’s most popular electronics stores and e-commerce websites. In cases where a model was unavailable in certain countries, we calculated a deviation from the median.
Finally, to gain an understanding of how the price of electronics may vary within countries, and in recognition of the increasing dominance of online shopping, we included a percentage price difference between brick-and-mortar stores and e-commerce websites. This is in recognition of the change in purchasing behavior in many countries towards online shopping, as well as to show the heavily inflated prices given to low-supply items such as graphic cards.
Items which have suffered global supply shortages, such as the Playstation, are listed as ‘sold out’. Although some of these items may be available for purchase in these countries, they are often heavily overpriced and we therefore decided not to include these unrepresentative prices.
The result is a comparative index that reveals the deviation in prices of electronic goods in 50 countries around the world.
Each column in the table below is filterable. By default, the table is ranked by the final column—the total deviation. In cases where the same model of electronic item was unavailable due to shortage or supply chain issues, the deviation from the dataset median—the midpoint of the dataset—was used. The full methodology explaining how the percentage deviations and prices for electronic goods in each country were calculated can be found at the bottom of the page.
The Electronics Price Index 2021 compares and analyzes the cost of electronic goods in 50 countries around the world. The countries selected were chosen based on the availability of data, their import tariffs, and recent instances of currency fluctuations. The prices were gathered by collecting data from brick-and-mortar stores and e-commerce platforms.
Major electronics outlets were identified by selecting the largest brick-and-mortar consumer electronics chains and e-commerce platforms in each country. In cases where items were unavailable in the largest electronics chain, additional shop samples were taken. A full list of the brick-and-mortar and e-commerce platforms used is available upon request.
The collection of the item prices took place between September 10th–October 10th 2021. All prices are in local currency for the selected profiles listed below with the exception of Venezuela, where prices are listed in USD. All local currency prices were converted into USD for the final table using the monthly averaged exchange rates between August 23rd–September 23rd 2021. To account for applicable US tax rates, the state of New York was selected to represent the US market.
For each item, the model profile is described according to the key characteristic. For example: storage, processing, connectivity, screen size, edition, and generation. In cases where search operations returned multiple items corresponding to each key characteristic, the cheapest option was selected. Where search operations returned no results for each of the available stores, the item was either recorded as unavailable or a comparable result was found and its selection justified individually.
For Windows OS laptops, a specific high-end model was selected, differentiating between two processor variants. Comparable laptops were selected based on the same key characteristics. In cases where search operations returned multiple items corresponding to such key characteristics, the cheapest option was selected. In the case of graphic cards, the cheapest option was selected where search operations also returned multiple items corresponding to key characteristics.
In cases where the same model of electronic item was unavailable, the deviation from the dataset median–the midpoint of the dataset–was used. The deviation from the median is calculated using the following formula:
The products featured in the index are listed below:
iPhone 13: 128GB internal storage
iPhone 12: 128GB internal storage
Samsung Galaxy S21: 128GB internal storage - Phantom
Samsung Galaxy S20 FE: 128GB internal storage
iPad Air: 64GB - WiFi connectivity - 4th Generation
Kindle Oasis: 8GB internal storage - 10th Generation
Kindle Paperwhite: 8GB internal storage - no ads
Nintendo Switch: 32GB HDD - 2019 Version
Sony Playstation 5: Disc version - 825GB internal storage - 1 Controller - No bundling
Microsoft Xbox Series X: 1TB - 1 Controller
Graphics card (2020): Radeon RX 6800 XT - 16GB
Graphics card 2 (2020): Radeon RX 6900 XT - 16GB
Apple Watch: Series 6 - GPS Connectivity - 40mm Screen size
Samsung Galaxy Fit: - 2nd Generation
Amazon Echo Dot: - 4th Generation - No display
Apple AirPods: - 2nd Generation - Incl. wired charging case.
Apple TV 4K: 32GB internal storage - 2nd Generation (2020)
Apple MacBook Pro (2020): 256GB SSD internal storage - 8GB RAM - M1 8-core CPU - 13.3” LED screen.
Apple iMac M1 (2021): 256GB SSD internal storage - 8GB RAM - M1 8-core CPU - 8-core GPU - 24” Screen size
Windows OS laptop - Lenovo ThinkBook E15: 256GB SSD - 8GB RAM - Intel i5-1135G7 or i5-10210U CPU - UHD Graphics card or Intel Iris Xe Graphics GPU
Comparable Windows OS laptop: 256GB SSD - 8GB RAM - Intel i5-1135G7 or i5-10210U CPU - UHD Graphics card or Intel Iris Xe Graphics GPU
High-end Smart TV - Samsung The Frame: 43” Flat screen - QLED - 4K UHD - 2021 Edition (LS03A)
Comparable high-end Smart TV: 43” to 55” Flat screen - QLED - 4K UHD
Low-end Smart TV: 43” Flat screen - LED - 4K UHD
Price information for gaming consoles was provided for the latest, most popular version available—excluding product bundles and special offers.
Price data for Apple iPhones was provided for the two latest generations, as well as for the average deviation from the median.
Price information for Samsung Galaxy was provided for the latest two models, Galaxy S21 and Galaxy S20. An average deviation from the median is provided.
Price information for graphics cards was calculated as the average deviation from the median of the most recent, as well as the second most recent Radeon RX series cards.
Price information for laptops running Windows OS is provided as the average deviation from the median of items corresponding to a specific model and when not available to comparable models with similar hardware characteristics. Because the latest models within those specifications were not available in all countries, two generations of Intel Core i5 were selected to reflect the most recent and second most recent versions of the i5 processor.
In the case of Smart TVs, a specific high-end model was identified and selected whenever available. Comparable models were selected on the basis of hardware similarity. The low-end Smart TV item was selected independently of branding and model, fulfilling the basic profile requirements at the cheapest price. In cases where search operations returned multiple items corresponding to such key characteristics, the cheapest option was selected.
Source: Trading Economics.