Tech spending to soar during USA holiday season
EP&T MagazineElectronics consumer consumer tech tech
Technology spending during the 2019 holiday season is projected to reach $97.1 billion in revenue in the U.S. – on par with last year’s actual spending – according to the Consumer Technology Association (CTA). The CTA’s annual study says 186-million U.S. adults (74%) plan to purchase a tech product as a gift this year – with streaming service subscriptions and video games emerging as popular tech gifts.
Seven-in-ten U.S. adults (71%) plan to purchase a content-related gift this year, which includes videogame discs (43%) and streaming or download entertainment services such as Netflix or Hulu (39%).
“We are in the golden age of content as more people consume more content across more devices,” says Lesley Rohrbaugh, director of market research, CTA. “New video streaming services, more 4K Ultra HD content and larger screens on TVs and smartphones are putting entertainment on gift lists this holiday. Screens like laptops, smartphones and TVs will top wish lists and we’ll see a rise in emerging tech categories like smart home devices and wearables too.”
Top 5 tech gifts consumers most want to get
The ‘Three Screens’ continue to top consumer wish lists this year, with desktops and digital cameras falling off the top five list.
More people plan to buy emerging tech
This season, more consumers plan to buy emerging tech as gifts for others, as well as themselves.
* Smart Home Devices: More than half (59%) of U.S. adults plan to purchase a smart home product such as a smart doorbell, camera or lightbulb as a gift. Smart speakers, such as the Amazon Echo and Google Home, top the category with 38% of U.S. adults planning to purchase one this season. CTA expects a robust 11.3 million units to ship, a 42% decline over last year as more devices like TVs incorporate digital assistants.
* Wearables: As new features emerge with enhanced health capabilities and mobile connectivity, 43% of U.S. adults plan to buy a wearable (including smartwatches and fitness trackers) this holiday. Specifically, CTA expects over nine million smartwatches will sell this holiday season – a 2% increase over last year.
* Wireless Earbuds: Wireless earbuds will be a popular holiday tech gift to give with eight million units expected to sell – a 45% increase over 2018. Further, of the U.S. adults planning to purchase a gift within the overall headphone category, most say they’ll buy wireless earbuds this season.
Another popular gift this year will be videogame products, with half (50%) of U.S. adults planning to purchase a gift in this category. One-third (33%) plan to buy a videogame console such as an Xbox One X or PlayStation 4 Pro and accessories such as steering wheels or joysticks.