Deep Dive Into Holiday CE Spending
Sales projections to help retailers market and merchandise during crucial seasonOctober 25, 2013 By Jeff O'Heir
Holiday spending on consumer electronics is expected to increase 2.6 percent this year, down from 2012's 4 percent increase. Here are some of the key figures from CEA's 2013 Holiday Sales and Forecast, presented at this week's Industry Forum in Los Angeles.
Despite the expected decrease, there are still several categories that expect big growth and some trends that can help retailers drive sales.
- The following are expected growth sales during the holidays: overall retail sales 4 percent; GAFO (general merchandise, apparel and accessories, furniture and other) sales 2.7 percent; electronics retailers 0 percent, online sales 18.7 percent; and mobile sales 35.5 percent.
- 74 percent of consumers plan to buy CE products, a slight drop from last year's 76 percent, while 89 percent of consumers plan to buy any type of holiday gift, up from 85 percent.
- Total holiday spending on tech will reach $248 million, down from $258 million (a four percent drop), while the total spent on gifts in general will hit $753 million, down from $861 million.
- One in five adults expect to spend more on CE, for an average of $451; while one in three plan to spend less, averaging $154.
- 75 percent plan to buy from a brick-and-mortar retailer, while 45 percent plan to buy online. Both numbers are down about one percent from last year.
- Mobile devices top the list of intended purchases, with smartphones coming in at 30 percent, while laptops and tablets tied at 16 percent. In other categories, TVs logged in at 15 percent, any type of digital camera 12 percent, headphones 12 percent, and gaming consoles 11 percent.
- On the receiving end, 11 percent of adults want a television, 14 percent want a tablet, 12 percent want a notebook and seven percent want a smartphone.
- CEA expects shipments of tablets during the holiday season to hit 40.1 million (up from 33.1 million actual shipments in 2012); flat panel TVs 13.2M (12.68M in '12); 25,800 4K UHD TVs; 5.2M Blu-Ray players (4.9M '12) 14.9M gaming consoles (10.7M '12), 456,000 camcorders (829,000 in '12); 1.3M soundbars (918,000 in '12).
- In the computing category, 59 percent of consumers plan to buy a 7- to 8-inch tablet, 72 percent an 8.9- to 10.1-inch tablet, 43 percent will by one larger than 10.1 inch, and 57 percent plan to buy a convertible PC.