CEA: Expect “Stimulus” in Electronics Sales
Electronics retailers struggling amid recession fears may have a break coming their way, thanks to the economic stimulus package recently agreed to by Congress and President Bush. According to a survey released this week by the Consumer Electronics Association, one-fifth of U.S. households say they will spend at least part of their rebate check on electronics.
Customers are planning to do so because “technology remains essential to consumers,” CEA economist Shawn DuBravac said as part of the group’s summary of the study. He cited a rise in the sales of flat-panel TVs early this year as an example, despite a weakening economy and collapsing housing market.
Of those spending their checks on gadgets, CEA said, 53 percent said they will buy a computer, 39 percent a TV and 23 percent a cell phone. Under the terms of the package signed into law by the president in mid-February, the average American will receive just under $1,000, with single adults receiving $600 and married couples $1,200; in addition, citizens will receive $300 per child.