CEA: Americans Spending More on Consumer Electronics6 May, 2010 By: Chris Tribbey
Average household spending on consumer electronics was up $151 to $1,380 in the past months, according to a new study released by the Consumer Electronics Association (CEA) May 6.
The average American household spent 12% more in the past year on consumer electronics, thanks largely to price drops for high-def products, CEA said.
“A drop in price, widespread availability of HD content and successful completion of the digital television transition last year have all led to an increased ownership rate for HDTVs,” said said Brian Markwalter, VP of research and standards for CEA. “Lower prices, along with increased mobility and a variety of sizing options, are helping to drive more consumers to own computers as well.”
The average adult spent $794 on consumer electronics in the past year, up from $725 during the previous 12 months. Women spent less than men, $631 vs. $969.
The report found that 65% of American homes have at least one HDTV, up 13% from the previous year. Nearly one in four households reported they intended to buy a new HDTV in the next year. More than 85% of homes have at least one computer.
“Consumer electronics continues to be a bright spot as spending increased despite a tough year for the overall economy,” Markwalter said. “As consumer confidence climbs, along with the desire to own the latest technologies, consumers will continue to view CE products as necessities in their lives.”