CEA: Consumers Will Spend More on CE For Holidays
U.S. consumers are planning to spend 8 percent more on consumer electronics this holiday season than last year, despite a drop in overall spending. That's according to the 16th Annual CE Holiday Purchase Patterns Study, unveiled Monday by the Consumer Electronics Association.
The study found that 80 percent of adults plan to buy CE products this holiday season, the highest number for that question in the series' history. CEA also found that while overall spending on all products this holiday season will drop slightly, overall gift spending will rise 4 percent.
In addition, 66 percent of consumers are "likely" or "very likely" to visit a store for electronics, with a similar 67 percent planning to purchase the goods at a "mass merchant."