THE information and communications technology (ICT) industry will need a team effort to weather the current economic storm.

On one hand, consumers need to continue with their technology spending to ensure positive growth of the market. But with less money to spend, this is not going to be easy. This is where manufacturers and retailers need to play their cards right.

As far as the consumer electronics market is concerned, there could well be a buying shift from the more expensive wares to the more affordable brands to suit a tighter budget. So, players in this segment of the market would be wise to focus their strategy more on this range of products.

In the notebook market, for example, buyers could settle for a brand with a price tag of below RM2,000. The same could apply to other tools such as mobile phones and printers.

Players also should come up with more attractive payment options and instalment plans for consumers. This would probably encourage them to keep making purchases.

The message here is, while consumers have less buying power these days, many are not likely to totally stop spending on ICT because technology has become so embedded in today’s lifestyle.

So, consumer technology spending is expected to continue. People will still spend on new hardware and upgrading their software applications. And audio-visual products such as liquid crystal display TVs, game consoles and MP3 players will still make their way into homes. But the onus is on manufacturers and retailers to ensure that consumers continue in their buying momentum, despite a tighter purse string.

Like other markets, ICT is expected to see weaker growth and lower margins during this economic slowdown. But as in previous occasions, the industry has enough resilience to bounce back and emerge stronger.