What Is the Average Cost of a Laptop?
In 2017, the global laptop market had an estimated value of $101.67 billion. Experts project this to have a compounded annual growth rate of 0.4% until 2025. They also forecast a 1% increase in total laptop sales volume during that period.
However, the third quarter of 2020 showed an unprecedented increase of 12.7% in computer sales. Laptops accounted for the biggest increase, with 64 million units shipped. The rise in remote work and at-home classes fueled this growth.
With all that said, you may be wondering if the average cost of a laptop has also skyrocketed. How much is a laptop anyway, and is there anything you can do to save when buying one?
We’ll address all these questions in this guide, so be sure to read on!
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What Are the Lowest and Highest Laptop Prices Today?
Today, a brand-new laptop can go for as low as $200 or even cheaper during holiday deals. Most of these are Chromebooks, so they have downsized hardware. Still, they’re good enough for younger students or those who need a laptop for light tasks.
On the other end of the spectrum are the elite, high-powered laptops that cost $5,000 or more. These have blazing speeds, extreme power, and amazing display resolutions. They’re best for hardcore gamers and professionals, especially those who work on graphics.
What Then Is the Usual Average Cost of a Laptop?
Best Laptop for architecture students that cost between $501 and $1,000 are the biggest players in the market. These devices already come with a speedy processor, a good battery life, and a wide display screen. Most of them come wrapped with a sturdy, beautiful chassis, too.
How Much Should You Spend on a Laptop?
In 2019, average laptop buyers shelled out about $700 on a brand-new device. As laptop prices haven’t seen a drastic rise since then, this kind of spending still holds today.
If you’re an average computer user, a $700 laptop should be good enough for your needs.
Even the average college student was willing to spend over $750 on a new laptop in 2019. However, more than one in five (22%) polled students looked specifically at laptops worth $900 to $1,200. Still, 44% of college kids were only willing to spend $600 or less.
What Can You Expect With a $700 to $800 Laptop?
Many Windows laptops within this price range have a display screen size of 14 to 15 inches. Most also come with full HD (high definition), which is now the standard in notebook computers.
As for processing power, expect most of these laptops to come with an i-3 Intel processor. If you dig deeper, though, you’re sure to find a few with an i-5 Intel processor. Core i-5 processors work better and speedier for multitasking and media handling.
streaming laptop best in this price range also boast 8 GB of RAM (random access memory) chip. There are still a few that only have 4 GB, so be sure to check the tech spec list before you buy! This is especially true if you need the latest Photoshop; it now requires a minimum of 8 GB RAM.
A storage drive of 256 GB is now more common than 500 GB drives in today’s $700 to $800 laptops. That’s because most modern notebook PCs already use solid-state drives (SSDs). These are at least four times faster than mechanical hard drives, and they also last longer.
As for battery life, most of these laptops can last for only six to seven hours. There are a few that can last you for half a day at most, but you can expect these devices to be a bit heavier.
Are There Ways to Lower the Cost of a Laptop?
Absolutely! Most computer makers run deals year-round, reducing the price of their pricier laptops. If you time your purchase right, you can get one that’s usually worth $1,000 or more for half the price.
With awesome deals on these laptops, you no longer have to settle for a $700 to $800 laptop with bare specs. For the same amount of money, you can get a brand-new device that’s twice or thrice faster and more powerful.
With all that said, here are some of the best ways to lower the cost of a laptop that’s otherwise outside of your budget.
Time Your Purchase Right
November is often the best month to buy a new laptop, and not only because of Black Friday. Many PC makers and retailers start to offer discounts a few days before Thanksgiving Day. Some even slash their prices as early as the first of November.
Black Friday is still when most of the biggest November deals occur, with discounts ranging from 50% to 70%. If you can wait for the last Friday of November, consider buying a new laptop then.
However, it’s best to start shopping around during the earlier days of November. This way, you can come up with a list of laptops that catch your eye. As you wait for the big day, research each model to see which ones will really suit your computing needs.
In case you miss Black Friday, shop for a new laptop on Cyber Monday. Just so you know, online shoppers spent an estimated $10.8 billion this previous Cyber Monday. After all, this day also marks some of the biggest discounts on electronics and gadgets.
Subscribe for Free to Enjoy Freebies and Discounts
One of the easiest ways to reduce a new laptop’s cost is to subscribe to your favorite brand’s newsletter. Many computer manufacturers award new members with freebies, gift cards, or vouchers. Gift cards and vouchers have a dollar value that you can then deduct from your final purchase price.
What’s more, you can redeem these rewards on laptops already offered at a discounted rate. Suppose you want to buy one that usually costs $1,500 but is now only $800. You should still be able to use the voucher to reduce the discounted rate further, saving you even more cash.
Another reason to subscribe is to get insider news on when the next sale is going to be. PC makers notify their members about these deals a few days or a week before the actual sale date. They also email their subscribers about limited flash deals or weekend-only discounts.
Moreover, some discount coupons only get awarded to subscribers. Non-members do receive coupons, too, but their discounts aren’t as big as those that members get. Subscribing is free and only takes a few minutes, anyway, but the rewards you can get are absolutely worth it.
Sign Up for Student Programs
Most computer makers offer year-round student discounts ranging from 5% to 10%. Even high-end Apple runs a “Higher Education Discount Program” for its expensive laptops. If you’re still in college, be sure to sign up with your preferred laptop maker to qualify for these deals.
In most cases, you can use these discounts on top of existing promotions and sales.
Look for Occupational Discounts
Educators, first responders, and healthcare workers can also snag laptop discounts. These are also available for military personnel, reservists, veterans, and their families. You can get an extra discount of at least 5% to 7% with these programs.
Retirees Get to Save on Laptops Too
If you’re at least 50 years old or already a retiree, be sure to check out Lenovo, Dell, or Samsung. These three computer makers offer various deals for those within this age range. For instance, Lenovo’s senior members can get at least 5% off on top of IdeaPad laptop promotions.
Don’t Forget Manufacturer Rewards
Lenovo, Dell, HP, Acer, and Asus ROG (Republic of Gamers) all offer rewards programs to their members. They work similarly in that you can get points for purchasing qualifying products. You only have to sign up with their official website to start accruing points when you buy their stuff.
You can get these points not only when purchasing computers, but accessories too. Most products also qualify, and in many cases, there’s no minimum required spending. You can then redeem these points as “cash” on future purchases.
Let’s say you need to buy a new laptop, laptop case, and laptop bag. You might want to purchase the laptop case and bag first so you can start earning points. You can then buy the laptop once you receive the points so that you can lower its price.
Also, don’t forget that you can redeem these points even on discounted laptops! If you time your purchase right and have enough points, you can enjoy much bigger savings.
Make the Cost of Your New Laptop Easier on Your Pocket
The $700 to $800 average cost of a laptop isn’t bad, but that doesn’t mean you should settle for it. Especially not if you can get a much more powerful, speedier device for the same price. You only need to be patient in researching deals and signing up for discount programs.
The time you spend subscribing will be worth it since you can get hundreds of dollars in savings.
Ready for more of the latest in computers, gadgets, and electronics? Be sure to check out our other news posts and guides then!