New Record High For Consumer Confidence in Tech
The Consumer Electronics Association’s monthly measure of consumer confidence in technology hit its highest level ever, while overall confidence in the economy rose as well, according to numbers released Tuesday.
The CEA Index of Consumer Technology Expectations (ICTE) rose to 97.3, jumping 9 points over November, to the highest level in the survey’s nearly five-year history. The CEA Index of Consumer Expectations (ICE) also jumped 8.5 points over last month.
“Technology products are the most wanted gifts this holiday season, and we’ve seen a tremendous amount of activity, with several new product launches over the past few months,” Shawn DuBravac, CEA’s chief economist and senior director of research, said in a statement. “Consumers are increasingly dedicating a significant portion of their overall gift budgets to electronics, which has crowded out other categories for holiday gift spending.”