Consumer spending on electronics gifts will reach an all-time high this holiday shopping season, according to new research released today from the Consumer Electronics Association (CEA). The research firm's 18th annual CE Holiday Purchase Patterns Study shows that overall spending this holiday will increase as well. The study was released today at CEA's Industry Forum in San Diego, a four-day conference for leaders in the consumer electronics (CE) industry.
Consumer electronics will account for one-third of all holiday gift spending this year, the group predicts. Consumers plan to spend on average $246 on electronics gifts, an increase of six percent from last year and the highest level since CEA began tracking holiday spending. Overall gift spending will also increase with consumers planning to spend on average $769 on gifts this year, three percent higher than last year. CEA expects holiday retail sales to increase 2.5 percent this year.
CEA also says that computing products will lead the way this holiday season, with tablet computers trailing only clothing as the most wanted gifts overall. Notebook computers are also high on the list, along with peace/happiness and money. When it comes to electronics, behind tablets and laptops, TVs (any type), e-Readers and video game consoles are the most wanted CE gifts.
Electronics accessories and gift cards will also be popular gifts, with four out of five adults planning to give a gift card this year, up five percent from last year. One in four consumers plans to give a gift card that can be used for digital music purchases, one in five for electronic book purchases and 16 percent for app purchases.
Given the current economic climate it does not come as a surprise that CEA says that price will be the most important factor as consumers decide where to buy their gifts. Ease of purchase and return policies are also important purchasing factors. Two-thirds of consumers say that they will compare the price for electronics online before making a purchase. Despite that, consumers are more likely to buy CE gifts at mass merchants and electronics stores than online or at warehouse clubs.
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