Electronics set to power US holiday sales: report

November 9, 2011
Shoppers crowd a Best Buy store at dawn during Black Friday, the day after Thanksgiving which commences the holiday gift-buying season, in Naples, Florida, 2010. Electronics sales are set to light up an otherwise dreary US holiday shopping season, according to the Consumer Electronics Association.

Electronics sales are set to light up an otherwise dreary US holiday shopping season, according to the Consumer Electronics Association.

The trade group released figures Tuesday predicting an increase in holiday electronics sales of 5.6 percent this year, with the average household spending $246 on gadgets, roughly a third of its gift budget of $769.

Tablets and computers rank second and third on the list of gifts most sought after by adults, with clothes taking the top slot. Peace, happiness, and money followed behind all three, according to the CEA.

The National Retail Federation last month predicted that total holiday retail sales would rise 2.8 percent, to $465.6 billion, less than the 5.2 percent growth registered in 2008 but slightly better than the 10-year average.

"The 2011 holiday season can be summed up in one word: average," it said.

Americans will be hoping for a much stronger season that can help combat the and perhaps chip away at the country's stubborn 9.0 percent .

The economy created 80,000 jobs in October, slightly worse than economists expected, although there were heavy upward revisions for previous months.

Explore further: Forrester projects rise in online holiday sales

Related Stories

Forrester projects rise in online holiday sales

November 2, 2009

(AP) -- Forrester Research Inc. is projecting an 8 percent increase to $44.7 billion in online holiday sales compared with a year ago as bargain hunters turn to the Web for deals.

Record US holiday spending on gadgets: CEA

October 19, 2010

Americans will spend a record amount on consumer electronics this holiday season, devoting nearly a third of their gift budget to gadgets, the Consumer Electronics Association (CEA) said Tuesday.

Retail sector improves as consumers open their wallets

November 10, 2010

Retail sales for the upcoming holiday season should echo the nation's struggling economic recovery as consumers increase buying by 2.3 percent over last year, says a new report from Ball State University.

Recommended for you

Smallest 3-D camera offers brain surgery innovation

August 28, 2015

To operate on the brain, doctors need to see fine details on a small scale. A tiny camera that could produce 3-D images from inside the brain would help surgeons see more intricacies of the tissue they are handling and lead ...

Smart home heating and cooling

August 28, 2015

Smart temperature-control devices—such as thermostats that learn and adjust to pre-programmed temperatures—are poised to increase comfort and save energy in homes.

Team creates functional ultrathin solar cells

August 27, 2015

(Phys.org)—A team of researchers with Johannes Kepler University Linz in Austria has developed an ultrathin solar cell for use in lightweight and flexible applications. In their paper published in the journal Nature Materials, ...

0 comments

Please sign in to add a comment. Registration is free, and takes less than a minute. Read more

Click here to reset your password.
Sign in to get notified via email when new comments are made.