A Mixed Holiday High-Tech Prediction
As economic woes persist in the United States and around the world, the Consumer Electronics Association last week released a prediction that sales of its industry's products will grow 3.5 percent in the fourth quarter as compared to last year. The bad news is that increase is only half what was seen in 2007. Still, consumer electronics remain "must have" items for many American shoppers and comprise about 40 percent of the items on adults' holiday wish lists.
CEA's holiday trends survey indicated that 87 percent of consumers feel that the U.S. economy is worse then it was at this time last year. About 64 percent of consumers expect to spend money on gifts this year, compared to 74 percent in 2007, the trade group said, noting that a decline in overall spending for the holiday season is expected. That said, the percentage of the U.S. family’s gift budget in 2007 allocated to electronics was 22 percent and in 2008, it jumped to 28 percent. GPS and in-car video, mobile phones and audio/video products are expected to be top sellers.
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