Dealer Data: Holidays Hot, but Growth Has Slowed
Black Friday was hot, but was it as hot has some have assumed? According to the NPD Group’s most recent weekly point-of-sale (POS) data for the week ending November 25, consumer technology retail sales grew nearly 12 percent to over two billion dollars. But while the year-over-year dollar volume is growing, it’s doing so at a slower rate, according to the group.
Growth last year was tracked by NPD at 15.8 percent, and the year before it was 12.5 percent. This year growth was found to be 11.8 percent. “There are a lot of factors which contributed to the sales slowdown,” said Stephen Baker, vice president, industry analysis, The NPD Group in a statement. “Revenue was up, actual sales volume was up, but prices were falling faster in some of the larger categories than consumers were buying, so despite apparently healthy store traffic and product demand the average consumer’s purchase grew less robustly than last year. Consumers knew what they were looking for; they came, they saw, they conquered, and they went home with basically what was on their lists and not much else, said Baker.”
But despite an overall sluggishness, some categories are way up. Not surprisingly the hottest category at the start of the selling season was flat panel TV. The group reported that LCDs above 30 inches experienced 208.5 percent revenue growth and 297 percent unit growth. LCDs under 30 inches grew 26 percent in revenue and 86 percent in unit volume. Plasmas saw a 63 percent jump in revenue and a 140 percent increase in unit volume.