Smart watches boost consumer confidence in tech spending
EP&T MagazineElectronics Wearable Technology Electronics
Consumer sentiment toward the overall economy also edges higher in June
Consumer confidence toward technology spending and the overall economy both increased slightly in June, according to the latest data released today by the Consumer Electronics Association (CEA), Arlington VA.
The CEA Index of Consumer Technology Expectations (ICTE), which measures consumer expectations about technology spending, increased by 1.2 points to reach 87.8.
“The slight uptick in consumer attitudes toward technology spending is likely due, in part, to enthusiasm around shipments in the smart watch category,” says Shawn DuBravac, Ph.D., chief economist, CEA.
The CEA Index of Consumer Expectations (ICE), which measures consumer sentiment about the U.S. economy as a whole, increased two points from May to reach 175.7. June’s ICE has been higher year-over-year ever since CEA Indexes began tracking in June of 2007.
“The economy continues to edge forward after a slow start to the year,” adds Dr. DuBravac. “I expect the economy will continue to pick up in the back half of the year given continuing encouraging employment news and increases in sales of existing homes.”
Next month, CEA will release the July update of its semi-annual report U.S. Consumer Electronics Sales and Forecasts, which serves as a benchmark for the entire industry and covers more than 100 consumer electronics products, including smart watches.