Behind the Upward Tick in Holiday Tech Spending: CEA
A look inside the 2.6 percent projected upswing in holiday spending on technology was provided by the Consumer Electronics Association’s Shawn DuBravac, chief economist and director of research. His insights included the observation that while it is still a positive, that percentage might have been higher if the CE-category share of desired durable goods had not receded slightly due to consumer “pent-up-demand” dollars being apportioned to other kinds of durable goods. His thoughts were offered at a statistical presentation on the upcoming holiday season during a preview event for the 2014 International CES in New York City Tuesday.
Providing context for the overall picture is research showing that holiday expenditures of all types this year will likely be adjusted downward by buyers due to lack of money, concerns over the economy, the higher cost of living, and their assertion that they “have what they need;” all those reasons for cautious spending were cited more frequently for 2013 than they were in 2012, according to the CEA’s report.
Slightly more U.S. adults responding to the survey, however, said they planned to purchase tech gifts this year (64 percent) versus last year (62 percent), with the most desired tech products being connectivity-related: tablets (14 percent), notebook computers (12 percent), TVs (11 percent), and video game consoles and smartphones (seven percent each).