Annual CEA Holiday Forecast Finds Consumer Tech Spending to Grow this SeasonOctober 22, 2013
CEA predicts consumer electronics spending will rise 2.6 percent this holiday season, which is down from four percent growth in 2012. Seventy-four percent of consumers who are intending on purchasing gifts this season plan on buying CE as gifts. They are setting aside 33 percent of their holiday budget to CE according to CEA's 20th Annual CE Holiday Purchase Patterns Study.
The study also found that 68 percent of consumers will spend the same or more this holiday season compared to last year.
Shawn DuBravac, CEA's chief economist and senior director of research, said in a press release:
"Negative economic sentiment and shipping momentum have consumers cautious about overall spending this holiday, but recent agreements, albeit temporary, should improve consumer confidence toward spending for the duration of the year. Moreover, holiday tech will remain somewhat impervious with recent and forthcoming product announcements to buoy excitement within the tech categories driving growth this holiday season."
According to the study, headphones/earbuds will be the most popular CE device given this holiday season. Cases for electronic devices are second and tablets are third.
Consumers are planning on starting their holiday season later this year with 57 percent of consumers expected to being their shopping after Thanksgiving. And 87 percent of U.S. adults indicated they were likely to use a mobile device to aid in shopping this holiday season.