Consumer Sentiment Toward Technology Spending Increases Heading into Black Friday Weekend, According to CEA Indexes
Strong Tech Shopping Weekend Expected
Arlington, Va., November 26, 2013 - Consumer confidence toward technology spending reached its highest level for the month of November since 2009, while sentiment toward the overall economy also saw increases in November, according to the latest figures released today by the Consumer Electronics Association (CEA)®.
The CEA Index of Consumer Technology Expectations (ICTE), which measures consumer expectations about technology spending, rose 2.7 points in November to reach 92.9.
"Tech spending sentiment is up heading into the Black Friday weekend - the most important tech shopping weekend of the year," said Shawn DuBravac, CEA's chief economist and senior director of research. "Tech is challenging other popular product categories, such as clothing, as the big winner this holiday shopping weekend."
Thirty-one percent of consumers plan to buy electronics over the Thanksgiving weekend. Among consumers planning to purchase electronics, most expect to buy a tablet (30 percent) followed closely by laptop computers (29 percent), video game consoles (29 percent) and televisions (22 percent), according to CEA's Pre-Black Friday Survey, releasing later today.
The CEA Index of Consumer Expectations (ICE), which measures consumer expectations about the broader economy, increased 4.7 points in November to reach 168.4, the highest level since November 2010.
"Consumers are feeling decidedly more optimistic about the economy," said DuBravac. "The equity markets continue to rally following resolution of the government shutdown. Gasoline prices have trended down which is giving consumers more room to shop as we head into the holiday shopping season. All of these factors bode well for holiday sales. CEA's forecast that total holiday retail sales will increase four percent in 2013, remains intact."
CEA plans to release results from its Post Black Friday Survey on Saturday, November 30, the day after Black Friday. CEA's Shawn DuBravac will host an analyst call on Sunday, December 1 at Noon ET/9 a.m. PT. To participate in that call, please dial 888-205-5513 and use participant passcode: 344657. On the call, DuBravac will discuss highlights from Black Friday, including how much money consumers spent, what they purchased and where they shopped. For more information, please contact Danielle Cassagnol at dcassagnol@CE.org.
The CEA Indexes comprise the ICE and ICTE, both of which are updated on a monthly basis through consumer surveys. New data is released on the fourth Tuesday of each month. CEA has been tracking index data since January 2007. To find current and past indexes, charts, methodology and future release dates, log on to CEAindexes.org.
The Consumer Electronics Association (CEA) is the technology trade association representing the $203 billion U.S. consumer electronics industry. More than 2,000 companies enjoy the benefits of CEA membership, including legislative advocacy, market research, technical training and education, industry promotion, standards development and the fostering of business and strategic relationships. CEA also owns and produces the International CES - The Global Stage for Innovation. All profits from CES are reinvested into CEA's industry services. Find CEA online at www.CE.org, www.DeclareInnovation.com and through social media.