Younger Consumers Pay Premium Prices for Headphones
“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.”
“Based on Checkout e-commerce data, buyers aged 18-34 consistently purchased notebook computers and headphones with the highest price point. In fact, this willingness to pay a premium on notebooks and headphones held true for three consecutive years (12ME March 2019, 2018, and 2017). In the 12 months ending March 2019, this age group purchased notebooks online with an average sales price (ASP) 17% higher than those 35-53 and 13% higher than those 55+.”
“On the other hand, consumers in the 18-34 age range are selecting LCD TVs at a slightly lower price point than their older counterparts. For the 12 months ending March 2019, 18-34 year olds purchased LCD TVs online with an ASP 3% lower than 35-54-year olds and 6% lower than those 55+.”
“’Younger consumers continue to see extraordinary value in PCs and remain committed to buying the best PC they can afford. In TVs, overall ASP declines have allowed all consumers to spend less on larger screens and enhanced features than they have in the past,’ said Stephen Baker, vice president, industry advisor for The NPD Group. ‘Despite these pricing disparities all consumers, especially younger ones, are shopping online for value and we’re seeing that traditional retailers have been able to apply successful in-store models to their online presence to compete effectively in product and price with online retailers.’”
“All three age groups consistently purchase headphones, notebooks, LCD TVs, and tablets with a higher ASP through traditional retailer websites than through pure play online retailer sites. The ASP of headphones purchased by each age group through traditional retailer websites was more than double the ASP of those bought through pure play online retailers. For the 12 months ending March 2019, traditional retailer websites made up 44% of online U.S. CE dollar sales for these items.”
Indeed, Techies do love a good deal. According to AudienceSCAN, within the last month, more than half of these consumers have used the internet to find coupons or discount codes and their favorite types of emails to get from businesses are ones containing coupons and/or discount codes. Additionally, within the last year, many of these shoppers have also been driven to action by ads on daily deals sites, such as Groupon.
AudienceSCAN data is available for your applications and dashboards through the SalesFuel API. In addition, AdMall contains industry profiles on electronics and accessories stores and department 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.