According to estimates from the Consumer Electronics Association (CEA), Americans will spend a record $48.1 billon for fourth-quarter holiday-related purchases of electronic products.
The CEA says computers and big screen television sets rank high among the items on the adult holiday “wish list,” while MP3 players, video games, computers and cell phones are focal points of the typical teen’s list.
“Consumer electronics will be the shining star of holiday retail sales, accounting for 22 percent of all gifts given,” said Shawn DuBravac, CEA economist. “While overall holiday spending will increase, we found consumers are cutting back on decorations, home purchases and travel, but not gifts, especially electronics. The average CE gift giver will spend $358 on those gifts this season.”
These projections came from a study of holiday purchase patterns presented at CEA’s recent four-day Industry Forum event.
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