Consumer Electronics Spending Up 9.3% in 2007
New York City Consumers continued to spend money on consumer electronics with average U.S. household spending up 9.3% for the one-year period that ended Jan. 31, according to a study by the Consumer Electronics Association (CEA).
the average household spent $1,405 on consumer electronics last year, $120 more than the previous year.
The leading categories included high-definition TVs and portable products such as laptop computers and cell phones.
The report predicts that overall consumer spending will increase again this year and surpass the $161 billion in overall shipment revenue generated last year.
However, according to the Deloitte Leading Index of Consumer Durables Spending (see Monday’s Web story, “Survey: Big-Ticket Items Continue Downward Slide”), sales of big-ticket items such as electronics are predicted to continue the downward tumble that began in September 2007.