Tech to drive US holiday spending: surveyOctober 16, 2012 in Technology / Business
New high-tech devices will get US consumers to open their wallets for the upcoming holiday season, driving retail spending higher, a survey showed Tuesday.
The Consumer Electronics Association found overall holiday spending is expected to increase 11 percent this year while spending on consumer electronics gifts also likely will increase.
"Consumers are feeling more confident in the overall direction of the economy this holiday season compared to last year and, as a result, will spend more on gifts, including electronics," said CEA chief economist Shawn DuBravac.
On average, consumers plan to spend $1,634 overall this holiday, up 11 percent from last year, the survey found.
Consumers plan to allocate $842 from their overall budget to gifts, up nine percent from 2011, and $252 of that will be for consumer electronics.
Mobile connected devices are the most wanted gifts this season, led by tablet computers, the association said.
Tablets are the most wanted gift on both adults' overall holiday wish list and their gadget wish list.
The survey suggested smartphones likely will be the most popular device given as a gift this year, followed by tablets, notebook or laptop computers and DVD or Blu-ray players.
One in four consumers will give a gift card for digital music purchases, one in five for electronics book purchases, 16 percent for app purchases and 15 percent for online gaming purchases.
(c) 2012 AFP
"Tech to drive US holiday spending: survey" October 16, 2012 http://phys.org/news/2012-10-tech-holiday-survey.html