"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."
“'Steady single-digit growth is notable in a mature market where consumers are not replacing or repurchasing items at the same rate they did in prior years,' said Stephen Baker, vice president, industry advisor for The NPD Group. 'While some categories offer new, greenfield growth opportunities, the majority of revenue growth will occur from trade-ups and average sales price (ASP) increases, as opposed to rising unit volume sales.'”
"In audio, true wireless headphones have become the format of choice for consumers and are expected to see tremendous growth over the forecast period. Based on Future of Tech report findings, true wireless headphones will hold three-quarters of the headphone market dollar share by 2021."
“'True wireless earbuds have evolved into virtual must-have mobile phone accessories, and many products now offer features such as hands-free digital assistant access and touch/tap controls for interfacing and controlling smartphones. This bond between headphone and smartphone will help drive new sales in the future,' noted Ben Arnold, executive director, industry analyst. 'Headphones is just one example of a mainstay category that is driving growth through new feature sets, we expect brands in other segments will take a similar approach to find growth in this competitive environment.'”
Streaming Music Service Subscribers value having easy access to their music, no matter where they are or what they're doing. Headphones without pesky wires are an ideal accessory, and if they come with the added bonuses of hands-free features, that's an additional plus. Nearly 60% of these listeners want to make purchases within the next year that will help them feel comfortable, according to AudienceSCAN. The comfort wireless headphones could bring to them can be promoted through digital advertisements. Last year, this audience took action after either seeing ads on their mobile smartphone apps or receiving an ad via text (54.2%), receiving an email ad (53.5%), hearing an advertisement on both digital and over-the-air radio (47.1%) and clicking on text link ads on websites (42.5%). They're also 36% more likely than others to find advertisements on social networks useful.
AudienceSCAN data is available for your applications and dashboards through the SalesFuel API. In addition, AdMall contains industry profiles on department stores and electronics and accessories stores, as well as lead lists at the local level. Media companies, sales reps and agencies can access this data with a subscription to AdMall from SalesFuel.