According to the 14th annual Holiday Purchase Patterns study, consumer electronics products will generate USD 48.1 billion in Q4 sales, with USD 22.1 billion spent on holiday gifts.
"Consumer electronics will be the shining star of holiday retail sales, accounting for 22 per cent of all gifts given," said CEA economist Shawn DuBravac."Two of the top five items on adults' holiday wish lists are consumer electronics, and four of the top five items on the teen list are CE devices, so today's hottest technologies will be on every holiday shopper's mind."
Adult survey respondents included computers, peace and happiness, big screen televisions, clothes, and money on their wish lists. For teens, the wish list remains unchanged from last year: clothes, MP3 players, videogames, computers, and cell phones.
When respondents were asked which consumer electronics gifts they planned to purchase for someone else this year, videogame systems topped the list, followed by camera memory cards, MP3 players, DVD players, and digital cameras.
"While overall holiday spending will increase, we found consumers are cutting back on decorations, home purchases and travel, but not gifts, especially electronics. The average consumer electronics gift giver will spend USD 358 on those gifts this season," said DuBravac.