Whether it's a video game system or a new mobile phone, shoppers continue to open their wallets for consumer electronics purchases. True, the annual study by the Consumer Electronics Association (CEA) recorded a decrease in average spending of 12.5% or $176 per household during the past year, but this expense item still accounted for $1,229 in the average budget. When considered as part of the average household budget in 2006, consumer electronics comprised about 2.5% of spending.
Here are a few line item details to consider:
- The average number of CE products owned by each household: 23
- Average spending by men on CE products: $902
- Average spending by women on CE products: $558
- Average spending by young adults between the ages of 18 and 24: $1,056
Is it time for an updated ad campaign to promote the features of the latest CE products that your clients are selling?[Sources: Twice release, 5.31.09; Table 662, Statistical Abstract, U.S. Census Bureau, 2009]