Consumers Delaying Tech Purchases Until '23: Gartner

Consumers are deferring 2022 tech purchases until 2023, said Gartner Wednesday, saying inflation cut into consumer buying power in almost every country. Lower consumer spending will drive an overall 8.4% drop in device spending this year and an expected 0.6% slip in 2023, Gartner said. Enterprise IT spending is projected to grow 5.1% in 2022 to $4.6 trillion “as enterprises push forward digital business initiatives in response to economic turmoil,” said the research firm, calling enterprise tech spending “recession-proof.”