CEA: Tech Gifts Will Top the Charts During Record-Setting Holiday Season
New research from the Consumer Electronics Association found that 65 percent of all Americans—roughly 160 million people—are planning to purchase tech gifts this holiday season, a steady increase over last year, according to CEA.
In its 22nd Annual CE Holiday Purchase Patterns Study, CEA reported that emerging technologies will continue to drive growth in the tech industry, with 33 percent of consumers looking to purchase an emerging tech product—like smart home devices, wearable devices, and drones—during the upcoming holiday season.
As for overall spending, CEA’s report said it is expected to increase 3.4 percent this year to reach $788.5 billion. Further, spending on tech gifts specifically is expected to grow 2.3 percent this year, reaching $34.2 billion.