October 20, 2010
| by Steve Crowe
Spending on consumer electronics gifts this holiday season will reach “historic highs,” according to the Consumer Electronics Association (CEA).
The 17th Annual CE Holiday Purchase Patterns Study, which was unveiled at the CEA Industry Forum in San Francisco, finds each consumer will spend $232 on consumer electronics gifts, which is up five percent from 2009 and the highest level since CEA began tracking holiday spending.
The CEA says consumers will spend a total of $750 overall on holiday gifts, which is down two percent from 2009. Still, nearly half of consumers’ total gift budgets for the 2010 holiday season will be spent on consumer electronics. Nearly half will buy an electronics gift for children, two in five for their spouse and 29 percent for themselves.
“Giving electronics as a holiday gift, either to a loved one or to yourself, is more popular than ever,” says Steve Koenig, CEA’s director of industry analysis. “Not only are three in four adults planning to give CE 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.”
Three of the top five, and four of the top ten, items on adults holiday gift wish list are electronics. Notebook/laptop computers and Apple’s iPad ranked second and third, respectively, trailing only peace and happiness. eReaders and video game systems ranked fifth and ninth, respectively.
“Many innovative products new to the market are high on the gift list this year,” says Koenig. “Consumers want the newest technologies, and stores that stock these products on their shelves will fare well this holiday season.”