The Consumer Technology Association (CTA) has issued a report saying that technology spending during the Oct.-Dec. 2019 holiday season is projected to reach $97.1 billion in revenue in the U.S. – on par with last year’s actual spending. CTA’s 26th Annual Consumer Technology Holiday Purchase Patterns Study says 186 million U.S. adults (74 percent) plan to purchase a tech product as a gift this year, with streaming service subscriptions and video games emerging as popular tech gifts. Further, seven out of 10 U.S. adults (71 percent) plan to purchase a content-related gift this year, which includes videogame discs (43 percent) and streaming or downloaded entertainment services such as Netflix or Hulu (39 percent).
“We are in the golden age of content, as more people consume more content across more devices,” said Lesley Rohrbaugh, director of market research, CTA. “New video streaming services, more 4K Ultra HD content and larger screens on TVs and smartphones are putting entertainment on gift lists this holiday. Screens like laptops, smartphones and TVs will top wish lists, and we’ll see a rise in emerging tech categories like smart home devices and wearables, too.”
The top five tech gifts consumers most want, according to the research, include a preponderance of screens – laptops, smartphones, tablets and TVs, with desktop PCs and digital cameras losing their positions among those top spots.