CEA Says US Tech Spending to Set Record This Year

According to the CEA, total spending on technology in the USA this Christmas season will rise 2.5% YoY, to more than $33.7 billion. An improving macroeconomic environment is increasing consumers’ willingness to shop, said the CEA’s chief economist, Shawn DuBravac. The top technology products on wishlists in 2014 will be tablets, notebooks/laptops, TVs, smartphones and consoles.

63% of US adults plan to give technology products as gifts this year. Headphones and earbuds are expected to be the most popular gifts (27% and 26%), closely followed by tablets (26%), notebooks/laptops (25%), TVs (24%) and smartphones (23%). Additionally, 10% of consumers are likely to purchase a fitness device, 9% a smart device for the home and 8% a smartwatch as a gift this year.

For the first time, the CEA has found that more than half of US adults are likely to buy CE products online this year: 51%, up from 43% in 2013. 26% of consumers felt it likely that they would buy more CE products online this year than last year. However, physical stores remain important, with 77% of consumers likely to buy from a bricks-and-mortar location.