Americans will spend more on consumer electronics this holiday season, both for themselves and as gifts, according to the Consumer Electronics Assn. (CEA).
The trade group reported 80 percent of adults plan to buy a consumer electronics product during the holidays, the highest in the annual survey's 16-year history. Holiday shoppers will spend an average of $222 on consumer electronics purchases, up 8 percent from last year.
“Consumers remain wary, but there are signs of optimism in our holiday forecast,” said Shawn DuBravac, CEA's chief economist and director of research. “As the holiday approaches, consumer appetite for technology highlights the resiliency of the tech sector.”
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