Inside CE Holiday Buying Patterns
Shoppers plan to spend about $252 on consumer electronics this holiday season, a 2.4% increase from last year's $246, according to CEA's 19 annual CE Holiday Purchase Patterns Study released at the association's Industry Forum in San Francisco.
Overall, consumers plan to spend $1,634 this holiday, up 11 percent from last year, with about $842 of that budget going towards gifts, a 9 percent increase from last year. About 76 percent of adults plan to give a CE product as a gift.
"I think it's a commentary that consumers have the money to spend," said Steve Koenig, CEA's director of industry analysis, adding that the overall increase in holiday spending shows that consumer confidence in the economy is increasing.