The accessories market is incredibly resilient. Driven by emerging technologies, it adapts and evolves to meet consumer demand. Despite the trying economic times, the accessories market continues to grow. The Consumer Electronics Association predicts 8% revenue growth for accessories. The market is forecast to reach more than $8.7 billion and is expected to produce double-digit revenue growth through 2014.
Accessories are a bit different from the rest of the CE industry in that they offer the advantage of reaching across the entire CE universe of products. Innovative wireless technology and emerging devices have changed the way we think about accessories. Accessories that facilitate the use of wireless devices are becoming increasingly prevalent and apps and services have become virtual accessories that are creating new opportunities. To a greater extent, consumers view accessories as a necessity to improve the use and performance of the core product. Retailers and manufacturers can meet the needs of consumers by creating, marketing and selling the products that will help people get the most out of their CE experience.
CEA's Accessories Division champions accessory product sales, consumer education and the development of industry standards to promote continual growth, innovation and compatibility for CE accessories. Together, we can work to achieve this objective. We conduct consumer research to determine how, why and where consumers choose to buy accessories, as well as how those purchases affect product returns and customer satisfaction. This information drives the development of consumer education programs and empowers CEA's Accessories Division to offer guidance and education to retailers on the bottom-line impact of accessories sales.