CEA Study Positive Trend For Home Buyer CE Purchases
Home builders can take advantage of increasing consumer demand for integration of consumer electronics products into new houses, according to a study released today from the Consumer Electronics Association (CEA)®. While new housing starts are expected to decline by 21 percent in 2007, the consumer electronics industry should see an 8 percent increase in revenue, according to CEA’s 2nd Annual New Home Buyers and Technology Purchases study released today.
“The increasing importance of consumer electronics upgrades shows a positive trend in the future for home technology purchases,” said Tim Herbert, CEA senior director of market research. “Interestingly, new home buyers who did not purchase and install new technologies at the time they bought a house regret their decisions. Home builders have a unique opportunity to create new revenue streams by satisfying consumer demand for home electronics,” said Herbert.
The study also found that more than four out of five buyers of home technology are satisfied with the installation services they received. Consumer satisfaction with installation of consumer electronics products increased across the board over 2006. For example, 82 percent of consumers reported satisfaction in 2007, compared with 73 percent in 2006.
CEA’s 2nd Annual New Home Buyers and Technology Purchases (August 2007) was fielded between July 26 and August 8, 2007. 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. The complete study is available free to CEA member companies. Non-members may purchase the study for $599 at www.ebrain.org/crs/crs_all.asp.
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