Consumers to Spend More on Tech, All Items This Holiday Season, CEA Study Finds
Arlington, VA – – Overall holiday spending is expected to increase 11 percent this year while spending on consumer electronics gifts also likely will increase, according to a new study released today from the Consumer Electronics Association (CEA)®. CEA’s 19th Annual CE Holiday Purchase Patterns Study was released today at CEA’s Industry Forum in San Francisco, a four-day conference designed to inform and connect leaders in the consumer electronics (CE) industry.
Consumer electronics continue to be among the most wanted gifts this holiday and are expected to account for nearly a third of all gift spending. On average, consumers plan to spend $1,634 overall this holiday, up 11 percent from last year. Consumers plan to allocate $842 from their overall budget towards gifts, up nine percent from 2011. Consumers plan to spend $252 on CE this year, on par with last year’s number of $246, and three in four (76 percent) of gift giving adults plan to purchase CE products as a gift this year.
“Consumers are feeling more confident in the overall direction of the economy this holiday season compared to last year and, as a result, will spend more on gifts, including electronics,” said Shawn DuBravac, CEA’s chief economist and senior director of research. “CE continues to play a leading role in holiday shopping and this year is no exception, as consumers will dedicate a large portion of their overall gift budget towards electronics, specifically mobile connected devices.”
Mobile connected devices are the most wanted gifts this season, led by tablet computers. Tablets are the most wanted gift on both adults’ overall holiday wish list and their CE wish list. Money and peace/happiness are close behind on the overall wish list with smartphones and notebook/laptop computers rounding out the top five. When asked specifically about electronics, consumers’ CE wish list is similar to their overall wish list, with televisions also making the list.
Holiday Gift Wish List (Adults)
Holiday (CE) Gift Wish List (Adults)
Television (any type)
Phone (any type)
While consumers want mobile connected devices this holiday season, they’ll also be giving them as gifts. Smartphones likely will be the most popular CE device given as a gift this year, followed by tablets, notebook/laptop computers and DVD/Blu-ray players. CE accessories will likely also be a popular gift this season, with headphones/earbuds, carrying cases and memory cards being among the most popular accessories given as a gift this year. Gift cards also will remain a popular gift with over three-quarters (77 percent) of U.S. adults planning to give a gift card to someone else this holiday. One in four consumers (26 percent) likely will give a gift card for digital music purchases, one in five (20 percent) for electronics book purchases, 16 percent for app purchases and 15 percent for online gaming purchases.
Product pricing remains the most important criteria among consumers deciding where to shop for CE gifts this year. Pricing will likely also influence how consumers find the best deals. Two-thirds (66 percent) plan to compare prices of CE products online before making a purchase, 41 percent likely will use a mobile device to compare prices while they are in a store and 28 percent plan to search for promotions on a social networking site. Most consumers (79 percent) think overall holiday shopping deals and Thanksgiving weekend deals (81 percent) will be as good as or better than last year.
“Consumers will be in search of deals this holiday and will be using a variety of channels to find the best possible price on all gifts,” said DuBravac. “Comparison shopping in stores and online will be very common among consumers. They’ll also turn to friends and family, social media, advertisements, circulars and a number of other methods to find the best deals.”
CEA will be releasing Black Friday sales figures during Thanksgiving weekend. To schedule an interview with a CEA analyst regarding Black Friday and Cyber Monday sales figures, contact Steve Kidera at skidera@CE.org.
The 19th Annual CE Holiday Purchase Patterns Study (October 2012) was conducted in September 2012. It was designed and formulated by CEA Market Research, the most comprehensive source of sales data, forecasts, consumer research and historical trends for the consumer electronics industry. Please cite any information to the Consumer Electronics Association (CEA)®. The complete report is available free to CEA member companies at members.CE.org. Non-members may purchase the report for $699 at the CEA Store.
CEA also has released the result from its 9th Annual Teen CE Holiday Purchase Patterns Study (October 2012) which examines CE wish lists, gifting intentions and holiday shopping patterns among teens ages 12 to 17. The report is available free to CEA member companies at members.CE.org. Non-members may purchase the report for $299 at the CEA Store.
The Consumer Electronics Association (CEA) is the preeminent trade association promoting growth in the $206 billion U.S. consumer electronics industry. More than 2,000 companies enjoy the benefits of CEA membership, including legislative advocacy, market research, technical training and education, industry promotion, standards development and the fostering of business and strategic relationships. CEA also owns and produces the International CES – The Global Stage for Innovation. All profits from CES are reinvested into CEA’s industry services. Find CEA online at www.CE.org, www.DeclareInnovation.com and through social media.
Categories: Press Release, CEA General, Market Research, Industry — Tags: CEA, "CEA Market Research", "Consumer Electronics Association", "Consumer Electronics Gifts", "Holiday Gifts", "Holiday Purchase Patterns"
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