“Whether it’s automated assistants in their homes, smart devices in their hands or virtual experiences in the store, consumers are actively embracing the role of technology in their everyday lives. And they are sending early signals in terms of what this means for their shopping behavior and expectations, reports the National Retail Federation.”
“According to NPD’s Checkout E-commerce data, online technology spending in the U.S. increased 10% in the 12 months ending March 2019 compared to year ago. But while consumers are increasingly shopping online, consumers aged 18-34, 35-54, and 55+ are prioritizing their spend across major technology categories differently.”
“The total U.S. wholesale watch universe grew 13% to $8.8 billion in 2018, driven by a 54% increase in dollar sales of smartwatches, according to the December 2018 Watch Total Market Report from The NPD Group. Traditional watches accounted for 56% of annual dollar sales, but smartwatches outsold them in Q4 2018, accounting for 55% of total watch sales during the final three months of the year.”
According to The Future of Tech report from global information company, The NPD Group, home automation products will add $1.8 billion of new consumer electronics sales through 2018. The Future of Tech report forecasts 74 percent growth in the home automation category from 2016 to 2018, driven by sales of security and monitoring products, as well as growth in power and sensors.
In 2017 the technology industry will return to growth for the first time since 2010, according to a new forecast from The NPD Group. Sales of mainstream technology products will stabilize, while new dollars from innovative products will help grow the market.
Smartphones and voice commands vie for control over the rapidly growing smart home market, according to The NPD Group. Home automation sales are up 41 percent year-over-year in 2015.