There’s still a broad interest in technology, and about 28 per cent of the total holiday budget is being allocated for electronics purchases — an increase of six per cent from the last holiday season. The Consumer Electronics Association’s 15th holiday outlook finds that four of the top ten “wish list” items are televisions, video games, computers and mobile phones. The group’s Shawn DuBravac says consumers are taking a very holistic approach to the things they buy.
“Consumers are really trying to wring out all of the discretionary items out of their purchasing. At the same time, they’re trying to maintain a quality of life that they’re used to, so they’re want some consistency in their life as well, and technology products have done a very good job at helping consumers maintain that high quality of life that they’re used to. These technology products have moved from pure luxury goods to necessity goods — things like computers and mobile phones have become must-have, can’t-live-without products.”
DuBravac says consumers are changing their spending methods in a variety of ways.
“Sixty-six per cent of consumers say they’ll use coupons or spend more time looking for bargains, and that will be a major theme over the last few weeks of the year. Looking for the deals, looking for the bargain. We found that 66 per cent of consumers planning to spend less on non-essential purchases. We also found over 50 per cent of consumers plan to buy with cash instead of credit. So, trying little techniques, trying little tips and tricks to avoid the spending on things that they don’t want to spend on.”
DuBravac says expect strong promotions at the retail level.
Ed Mayberry, KUHF Houston Public Radio News.