"According to the newly released Future of Tech report from The NPD Group, consumer electronics revenue is expected to grow 3% annually through 2021 in the U.S. consumer marketplace. Product innovations in wireless headphones will aid in fueling growth."
Tag: consumer electronics
Consumer demand for electronics will continue its rise through 2015. According to the Consumer Electronics Association, industry revenues are expected to reach an all-time high of $223 billion in 2015, an increase of 3% over 2014.
Driven in part by the skyrocketing sales of connected devices, revenues for the consumer electronics (CE) industry are projected to grow two percent in 2014, reaching a record high of $211.3 billion, according to U.S. Consumer Electronics Sales and Forecasts 2010–2015, the semi-annual industry report released today by the Consumer Electronics Association (CEA)®. This midyear update is in line with CEA’s projection in January, slightly adjusted after better-than-expected 2013 revenue growth. Looking ahead to 2015, CEA expects industry sales to grow by 1.2 percent, with industry revenues reaching another all-time high of $214 billion.
Revenues for the consumer electronics (CE) industry are projected to grow 2.4% in 2014, reaching a new record high of $208 billion, according to a new study. New technology categories, including 3D printers, Bluetooth wireless speakers, convertible PCs, health and fitness devices, smart watches and Ultra HD television displays, are cumulatively expected to contribute more than $6 billion to the overall CE industry in 2014. While these emerging product categories represent less than three percent of the entire CE industry, they drive 65% of total industry revenue growth.
Nearly four in ten Americans (37%) — and the majority of Echo Boomers (54%) – plan on purchasing at least one tech device within the next three months. The most common planned purchases include smartphones (13%), tablets (11%), computers (11%), HDTV (8%), and a next-gen gaming console (8%). Not surprisingly, younger Americans and men are showing stronger intent to purchase tech items in the next three months.
A majority of consumers aren’t interested in buying a new smart TV. Some 73% of consumers have given a thumbs down to buying a new smart TV over the next 12 months, according to a new survey. But, as 20% of consumers intend to buy a TV in the next 12 month, advertising the smart TV's strong attributes could help turn that indifference around.
Holiday spending on consumer electronics is expected to increase 2.6% this year, down from 4% growth in 2012. Seventy-four percent of consumers planning to purchase gifts this holiday season intend to buy CE as gifts, allocating 33% of their overall holiday gift budgets to CE, according to a new survey. Tablets will top CE gift wish lists this year for adults and video gaming consoles for teens.
Consumers are expected to spend $555 per person on new consumer electronics devices this year, a 9% increase over 2012, according to a new study from The NPD Group. Big ticket purchases are fueling the increase, while the growing adoption of mobile devices is helping to boost sales of peripheral items such as stereo headphones with microphones and wireless streaming speakers.
The synergy between the consumer shopping behavior of showrooming and internet product research, as well as digital advertising and online purchasing, is becoming increasingly pronounced and interdependent – and consumer electronics brands can benefit by adjusting their marketing strategies. According to the Interactive Advertising Bureau (IAB), while 42% of in-store mobile device using shoppers ultimately made their purchase online, a full 30% made their purchase in the store.
Consumers have embraced electronic gadgets with open arms and wallets. Despite intense competition and advertising by marketers to establish brand dominance, research shows that shoppers remain flexible. However, they do show a preference for specific types of devices and these preferences should guide product development and marketing in the coming year.
Millennials are not only heavy consumers of electronics products, they also exert considerable influence on others when it comes to buying consumer electronics (CE) devices, according to a new study from the Consumer Electronics Association (CEA). Among the generations, Millennials have the highest intent to purchase CE devices, with 75% planning to purchase CE products in the next 12 months. Millennials are expected to continue to invest in CE products and services as they age and their levels of income rise.
U.S. sales of stereo headphones priced above $100 more than doubled in 2011, outpacing the rate of growth overall in the category, according to The NPD Group’s Retail Tracking Service. While models under $100 make up the majority of headphone sales, models priced above $100 have doubled their unit share to 6%, and now account