Consumer Confidence in Tech Rising, CEA-CNET Indexes
The CEA-CNET Indexes increased for the month of August, according to figures recently released by the Consumer Electronics Association (CEA)® and CNET. The Indexes are comprised of the CEA-CNET Index of Consumer Expectations (ICE) and the CEA-CNET Index of Consumer Technology Expectations (ICTE), the first-ever measure of consumer expectations in technology and consumer electronics (CE).
Consumer confidence in technology continues to strengthen. The ICTE reached 84.4 in August, up nearly four points from 80.7 in July. It is the third consecutive month the index has risen and marks the highest level it has reached since February. It is also the first time since March the index has increased on a year-over-year basis. August results also show consumers are more inclined to purchase technology and plan to spend more on technology in the months ahead.
“While there remain significant risks to the downside in the broad economy, we are beginning to see subtle, positive shifts in consumer sentiment,” said Shawn DuBravac, CEA’s economist. “Consumer electronics remain a vital part of people’s everyday life and an increasing appetite for technology is especially encouraging as we head into the fourth quarter and the holiday shopping season.”