Tag: consumer

Momentum on Sustainable Energy Transition at Risk as Consumer Fatigue Sets In

As the sustainable energy transition enters a crucial new phase, momentum is at risk of slipping amongst Irish and global consumers. While households say they are more interested than ever in sustainability and the potential of a clean energy future, only three in ten (30%) feel they can do more at this time to be more sustainable. With 70% of the expected benefits of the energy transition to be driven by changes in consumer consumption, and at a time when energy prices are beginning to decline, reengaging households is key.

That’s according to the latest EY ‘Energy transition consumer insights’ report, which surveyed 23,000 residential energy consumers across 21 countries, including 1,042 in Ireland, and which also highlights the key role the energy providers can play in helping to close the gap between interest and action amongst consumers on energy sustainability.

In Ireland, 78% of consumers say they are doing as much as they can to be sustainable at this time. When it comes to shifting to cleaner sources of energy, the majority of Irish households say energy providers (57%) and Government (57%) should take the leading role, with just over one in five (21%) believing individual consumers should be leading. The global energy crisis and cost of living challenges continue to impact Irish households, with 69% of Irish consumers saying they can’t absorb a bill increase of 10%.

The research also identifies a generation gap when it comes to the sustainability premium of energy amongst Irish consumers – with Gen Z (32%) and Millennials (20%) willing to pay a premium for sustainable energy solutions, significantly ahead of Gen X (14%) and Boomers (15%).

Sean Casey, EY Energy & Infrastructure Consulting Leader says:

“After a number of years of spiking energy prices due to the conflict in Ukraine, combined with cost-of-living challenges facing many, it’s not surprising that Irish households feel that they are not in a position to do more on energy sustainability. Our research finds that the majority of Irish consumers say that they’ve already done everything they can, with only three in ten feeling they can do more to be more sustainable.

“This presents a significant challenge as we move into the next critical phase of meeting our ambitious but essential climate change commitments. While efforts on the supply side from producers are gaining momentum, with record renewable energy generation on the grid, we need an even more fundamental shift in how we engage and encourage sustainable energy consumption behaviours, as 70% of the outcome of the energy transition depends on people changing their behaviour, most notably how we power our homes and how we get around.

“With energy prices beginning to decline from the spikes of late 2022 and early 2023, there is now a window of opportunity in terms of promoting and incentivising sustainable energy behaviours at a household level. Energy consumers need a broad range of supports to make personal energy choices easier and more affordable. These supports are in such areas as renewable energy solutions for the home, electric vehicles and simply how consumers use energy every day. Closing the gap between their interest and action will depend on energy providers, government, and the broader energy ecosystem working together to pull every lever available.”

The Action-Reaction Paradox

The EY research also delved into consumer behaviours when it came to energy usage, finding that households are often undermining their own positive sustainability actions – in many cases without being aware of it. This behaviour is not uncommon and referred to by researchers as the ‘action-reaction paradox’.

More than seven in ten (72%) Irish consumers report they offset their positive energy actions with negative actions and behaviours. These can include replacing an appliance/device with a new one and continuing to also use the old one (21%), the increased use of a new appliance/device because it costs less to operate than the one it replaced (28%) or taking an action or making a purchase that helped reduce energy bills and using the savings to buy something else (31%).

Sean Casey says, “Our research finds that even when Irish households take action to increase their energy sustainability, they can sometimes offset the gains – frequently unknowingly – by undertaking another energy intensive action. This challenge is compounded by the fact that the consumption of a good or service often increases as prices fall – meaning that the rapid gains in terms of sustainable energy entering the grid in the past decade will be outweighed by increased energy demand overall. It’s imperative therefore that we redouble efforts to educate and support households to reduce energy use where possible. This can include switching to renewable energy – which is increasingly available without a premium – or to switch to dynamic plans that incentivise usage outside of peak periods of demand.”

Opportunity for Energy Providers

While 81% say that it’s the energy provider’s responsibility to be sustainable and offer sustainability options to consumers, usefully providers are Irish consumers’ most trusted source of guidance on energy sustainability and purchasing energy products and services (44%). This gives these companies a significant opportunity to play an increasing role in powering the next stage of the energy transition.

Kyle Kirkpatrick, EY Ireland Customer Strategy and Transformation Lead says: “Our research tells us there is a real opportunity for energy providers to act as trusted advisors to householders – making change easier, faster, broader and deeper. Consumers are becoming more comfortable with new technologies being part of their energy experience – including the use of AI and Generative AI to help provide personalised advice and information about new energy solutions, and these technologies can play an increasingly important role in enabling consumers. One thing is clear: a collaborative, holistic approach to the energy transition, with consumers at the core, is how we will accelerate progress toward a fairer, greener, and better energy system that delivers more value for everyone.”

Find out more here.

Audioscenic Marks Impressive Growth with New Hires as they Widen their Ambitions in Consumer Audio Spatial Technology

Audioscenic, developers of the innovative 3D Audio Beamforming Technology Amphi, have announced a substantial team expansion including 15 new staff members across their Software Engineering, DSP, Computer Vision, and Audio R&D teams, along with a new CFO. The expansion comes as a result of rapid and successful growth. In the last six months Audioscenic has completed a successful Series A funding round as well as widespread industry accolades and awards for the first consumer implementation of its Amphi technology in the Razer Leviathan V2 Pro sound bar at the 2023 CES Show, Las Vegas. Audioscenic’s expanded teams see the brand poised to expand its technology to a global customer base.

“We’re very proud to grow the size, and skill, of our team to meet the rapidly expanding scope of Amphi within the consumer audio realm,” comments David Monteith, Audioscenic CEO. “The strategic focus of this expansion is on increasing our capabilities in key areas, so that we can continue to explore and implement our technology across the broadest possible range of consumer devices.”

The expansion of Audioscenic’s team signifies the company’s commitment to advancing spatial audio technology and strengthening its market position. With an increased talent pool, the company is well-equipped to improve existing products, develop innovative solutions, and explore new market opportunities, solidifying its position as a leading provider of immersive audio experiences. Additionally, the team’s diverse composition, spanning over four continents and representing 14 nationalities, fosters a global perspective and enriches the company’s ability to serve a diverse customer base worldwide.

The new team members include Balu Raj, Dimitris Zantalis, Robert Alcock and Kartik Prakash in Audioscenic’s Software Engineering Department, who will contribute to the ongoing development and improvement of the Amphi software solutions. George Howell and Georgii Zagoruiko have joined the DSP Department and will be working to expand the firm’s capabilities for implementing Amphi within embedded devices at lower cost. Jose Cappelletto will be part of the Computer Vision Engineering Team, which focuses on Amphi’s head-tracking technology. Yury Ushakov, Jago Reed-Jones, Jacob Hollebon and Neil Crawshaw in the Audio R&D Team will be focused on improving software performance and new product development which includes integration in laptops, car stereo systems, and other commonly available consumer listening devices. Finally, our new Chief Financial Officer will optimise the company’s financial operations and make informed decisions regarding financial planning and budgeting.

“We’ve assembled an incredible global team, hailing from countries around the world, to take us into the next phase of our journey,” said Dr. Marcos Simon, Audioscenic CTO and Co-Founder. “The diversity of background and thought gives us a rich tapestry of perspectives, ideas, and insights, which will allow us to continue to innovate and develop our approach to consumer spatial audio technology. As a united team our goal is the same,  to bring an accessible and affordable spatial audio experience to customers around the world, and elevate the experience of some of our most commonly used audio and viewing devices.”

As Audioscenic continues to evolve and expand its market presence, the company recognises the importance of strong business development efforts. To capitalise on commercial opportunities and foster strategic partnerships, Audioscenic has plans to onboard a dedicated business development professional. This individual will focus on driving commercial growth, identifying new markets, and establishing mutually beneficial relationships with key industry stakeholders.

For more information about Audioscenic, please click here.

What are the Beste Forbrukslån Uten Sikkerhet? (Best consumer loans without collateral)

For a lot of people, loans are a difficult subject to tackle.  There’s not a whole lot of education out there about them and how they work outside of “hey, you’ll probably need these at some point.”  Sure, we might get taught the equations for calculating interest, but in a vacuum, that’s not very helpful.

The point is, we all deserve to have a better idea of what they are and how they work when we decide to apply.  Otherwise, it can be pretty difficult to try to find the best type of consumer loan that doesn’t have collateral, sometimes referred to as an “unsecured” one.  As far as interest rates, we won’t be covering them too extensively here, so you may want to check out a resource like this one before you continue.  

How it all Works

Perhaps the most difficult thing to figure out when first starting out on your financial journey is how loans work in the first place.  Instead of explaining it to us, a lot of the time we’re just expected to understand them right off the bat.  Of course, this works a bit differently depending on where you live.

For instance, in North America, often you’re saddled with huge student loans fresh at eighteen with very little context and information about the ramifications of borrowing that money.  Naturally, in a place like Norway, that’s not really going to be the case.  Still, a lot of people in general end up going into debt without a full grasp of how credit agreements work.

When we borrow money from a lender, there is always going to be an expectation that we’ll be paying that mount back in full.  In fact, there will usually be an additional charge thanks to interest rates, as was mentioned above.  Typically, it’ll be in the form of a monthly payment, and there will be a pre-determined length of time that you’ll be responsible for them.

The longer the term of the loan, the more interest that you’ll end up paying.  So, it’s pretty important to be paying attention to that as you submit applications and consider which one that you want to accept.  The other thing that’s important to think about is the difference between “secured” and “unsecured” loans.

Unsecured

These days, the unsecured ones are much more popular than secured ones.  Essentially, the difference between them is whether or not there is collateral involved in the terms of the agreement.  You can find an example of them here, forbrukslån.no/beste-lån/ which showcases some consumer loans that don’t require collateral.

Now, if you don’t know what collateral is, it’s also pretty simple to get a handle on.  Basically, collateral is something that a lender takes in return if a borrower isn’t able to repay them.  So, if there’s a default on a loan, whatever the collateral is ends up in possession of the lender.  It’s something that not a lot of people want to deal with anymore, so for consumer loans, it’s gone out of fashion for the most part.

Secured

None of this is to say that there aren’t secured loans at all, anymore.  In fact, mortgages and auto loans are both under this umbrella, and a lot of people take them out each year to purchase a home or a vehicle.  However, they’re some of the only ones that remain.

Pawn shops are also an example of sorts here, although again, they’re not as popular anymore.  Additionally, a lot of them have started taking a different approach rather than the lending model.  Still, it’s worth understanding these distinctions.

Why it Matters

Perhaps you are still wondering why this is such a big deal in the first place.  That’s certainly a natural thing to question, all things considered.  However, there are several reasons why it’s important to have a firm understanding of loans, and some of them were already briefly touched upon above.

The thing is, each time that we go to make a major purchase in our lives, there’s a high chance that we’ll end up needing to take out a loan or borrow money from some form of financial institution.  Understanding all of the intricacies involved can be the difference between sinking or swimming, financially speaking.

On another note, though, knowledge of how it works can also help you to score a better deal.  In order to find the “best” one out there (that being the one that works best for your own needs, of course), you’ll need to know what you’re looking for in the first place.  Otherwise, it can get pretty confusing and difficult to navigate these spaces.

So, when you’re going to a consultation or even when you’re filling out an application for a loan, make sure that you know exactly what you’re aiming for.  While you will probably need to be prepared for some form of bargaining or the works, coming in with firm expectations is a solid game plan for sure.  

You can always talk to your financial advisor if you’re feeling stuck or get a consultation one if you don’t have one that you normally work with.  A lot of financial institutions have started to offer those sorts of services at their branches, too, which could be worth tapping into!  It’ll depend on how you decide to go about the application process, though, so bear that in mind.

Borrowing money doesn’t have to be scary or intimidating.  It’s not even a bad thing, most of the time.  So, even though “debt” seems to be synonymous with a bad word these days, that’s really not the case.  If you’re getting loans responsibly, then you don’t have anything to be concerned about on that front.

Just make sure that you’ll be able to make your repayments properly before you commit to anything.  Double check your budgets and create a game plan for the added expense, and you’ll be prepared!  Best of luck if you do decide to submit some applications!

Irish consumer sentiment improves but many still feeling the pinch of rising prices

Irish consumer sentiment is on the up, but inflation remains a key concern, a new Deloitte survey shows. More than three in four respondents are concerned that the prices of everyday purchases will increase – 2% down on last month – but the highest of 24 countries surveyed.

The Deloitte January Global State of the Consumer Tracker benchmarks the sentiment and beliefs driving consumer behaviours in Ireland and 24 other markets throughout the world. The Tracker team engages with 20,000 consumers to understand their perspectives on their financial wellbeing, where they spend their money and how they select and purchase their products.

The Irish survey found that six-in-ten Irish consumers have no extra money left at the end of the month and half of all Irish respondents feel their financial situation has worsened over the past year.  However, a quarter of respondents said they expect their situation to improve in the next 12 months.

Daniel Murray, Partner and Head of Consumer at Deloitte Ireland said today: “The results from the Deloitte Consumer tracker remind us of the importance of ongoing and consistent surveying of consumer attitudes. Once again, this month we see that Irish consumers are the most concerned about inflation, with 76% =concerned about the prices of everyday purchases. While this is the same percentage as Australia, it marks a consistently high level of concern about inflation in the minds of Irish consumers.

“Those countries that were least concerned were China (37%), Saudi Arabia (52%), Brazil and India (53%).  80% of Irish consumers expect prices to rise in restaurants (verses 72% average across the 24 countries) and 78% expect to see further rises in household utilities (verses 70% average across the 24 countries) The number who expect fuel to increase increased 4% to 68%.”

Murray continued: “We are also seeing some interesting demand increases which will require continued and careful contingency planning to avoid potential issues. 40% of Irish respondents said they planned to take an international flight in the next three months. This is an increase of 3% on this time last year. We also expect to see similar level of rail travel to this time last year with 34% of respondents expected to travel by train, rather than by rental car (13%). 51% of respondents expect to stay in a hotel in the next three months, which is the same level of demand to last year. Interestingly, just 25% would choose to book private accommodation, such as Airbnb.”

Murray concluded: “There are some interesting trends in several grocery categories. In the meat category, own brand and low cost have seen a quarter-on-quarter decline of -6% and -3% respectively, while purchasing premium meats has not declined at all. “This may suggest that Irish consumers are once again focusing on the food quality when selecting their meats in particular. Having said that, only 23% have bought several ‘nice to have’ items which shows caution remains when it comes to their purchases.”

Pro Audio vs. Consumer Audio Systems – Are There Differences Besides Marketing?

Some industries use devices that differentiate between pro and amateur options. For instance, nobody with a consumer camera would consider it on par with a professional camera used in Hollywood, which can set you back a 6-digit number.

However, Audio systems are a bit hazier. After all, they emit sound, so how can you know something is “professional” or “consumer” oriented? What are the differences anyway? We’ll delve into detail in this article.

Different Requirements

Sound is difficult to assess because it’s not visible, unlike video. And sometimes it’s a matter of personal preferences whether something sounds “good” or “bad”. Proof of this is music genres and artists. Some might be terrible for certain people while great for others.

As such, professionals must ensure specific parameters so their work is top-notch. Consumers would get something that sounds good enough. They would prefer to use their extra time for activities like playing in an online casino like casino777 or watching TV.

A key difference between audio systems geared toward professionals vs consumers is the data offered in their manuals. For example, parameters such as 

frequency response, sensitivity, signal-to-noise ratio, impedance and much more are found in any professional audio device. 

More of Everything

Many devices in pro audio have no market in mainstream consumerism. For example, mixing consoles, PA systems, power amplifiers and other equipment make no sense for installing in home theatres or for stereo music at home.

But even then, some shared components include microphones and loudspeakers. What are the differences between pro and amateur equipment, then, besides the price tag and that the manual has more info?

We won’t delve into much detail, but loudspeakers need to be precisely sized, have acoustic isolation, and offer top-notch electronics inside. They have premium materials for the cone and transducer to offer the best possible sound transmission. Also, many professional loudspeakers don’t even have a volume knob since it’s no use in certain studio situations.

As you can see, pro gear is tailored to the needs of the professional, which generally means superior audio and a lack of end-user features. Another important consideration is that professional audio is generally meant to be used in rooms with special acoustics, while consumer audio isn’t.

What Do Differences Feel Like?

Some audio enthusiasts get surprised when they hear pro audio equipment for the first time. Many times, microphones and loudspeakers sound “bland” or lack crispness. But quite the opposite is true.

Consumer equipment is often “embellished”, meaning sounds you hear aren’t like reality. Professional audio tries to keep sound as natural as possible, so the audio engineer can know precisely how something sounds and what they need to do about it.

Summing Up

Even though they’re similar, professional and consumer audio are worlds apart. Surprisingly, regular consumers will have certain disadvantages from purchasing professional audio equipment, such as fewer features. 

However, anyone interested in superior, real-life sound quality will be better off with pro equipment. The only extra needed is the necessary knowledge to take advantage of it.