Consumer spending on electronics will reach an all-time high this holiday season, according to the Consumer Electronics Association.
Shoppers are planning on spending an average of $232 on electronics this year, an increase of five percent from last year and the highest level since CEA began tracking holiday spending.
Additionally, almost half of consumers will buy electronics for children on their list and two in five will buy an electronic gift for their spouse/significant other. This means you should go for any laptops, iPads or TVs first on Black Friday.
“Giving electronics as a holiday gift, either to a loved one or to yourself, is more popular than ever,” said Steve Koenig, CEA’s director of industry analysis. “Not only are three in four adults planning to give [electronics] as a gift this year, but more consumers want electronics as a gift for themselves, demonstrating that electronics will be the must-have gifts of the season.”
Despite positive projections for the season, retailers shouldn’t take anything for granted. About seven out of ten consumers say they are adjusting holiday spending because of economic concerns, and a third are reducing expenditures for reasons related to unemployment.
“While the recession officially ended a year and half ago, consumers remain very cautious this holiday,” said Shawn DuBravac, CEA’s chief economist and director of research. “Worries remain over the economy and employment picture, but there is optimism. Consumers will spend more this holiday than last, with one in five planning to increase their holiday budget compared to last year.”
The following is CEA’s top ten wish list this holiday season.
For guides on how to purchase the right consumer electronics device for everyone on your gift list, visit www.DigitalTips.org, CEA’s consumer website.
-By Lauren Davidson, Atlanta Bargain Hunter blog