Electronics have become ensconced in the home. In l975 the average American home had 1.3 consumer electronic products and spend about $84 a year on them. In 1995 the figure was 5.4 products and about $344 a year spent. Today Americans have 25 consumer electronic products in the home on average and will spend about $1,500 a year on them. Flat-panel TVs are the big product category, especially with the drop in their prices. But statistics show that people are going for the fancier models, not the budget ones. There is an upgrade cycle on digital cameras. Only 500,000 MP3 players sold in 2000; this year the figure is between 33 and 36 million. The big electronics losers this holiday season are the two new competing DVD formats: Shipments for Blu-ray and HD DVD players was forecast as 750,000 for 2006 but will be only 250,000.
Gender Differences in Holiday Shopping – Consumer Reports conducted a home survey of 1016 households from November 9 thru 12. The results showed that women are the big shoppers and men want big TVs. Women take the lead in hitting the shops. 78% of the women surveyed said they completed three-quarters or more of the household’s holiday shopping last year. 30% said they plan to hit the stores the Friday after Thanksgiving, up from 26% last year. 8% of adults plan to buy a flat-panel TV now, and 12% will do so after the holidays. LCDs are leading over plasma, and regardless of format, the screens will be large: 46% plan on 41 inches or larger and one-fifth are eyeing sets 50 inches or bigger. 31% hope prices will drop after the holidays. More than a third will spend $1,500 or more on their sets. Women were found to rule the Internet: 55% of women with Internet access at home plan to shop online for the holidays. The primary reasons were convenience, avoiding holiday crowds, and getting better prices. On average, consumers will spend three hours wrapping gifts. 57% of the respondents reported that salespersons tried to press them to buy an extended warranty for home electronics when it is often not necessary.
CEA Enlists 3 Doors Down to Promote Great Audio – The Consumer Electronics Association has partnered with rock artists 3 Doors Down to promote the virtues to consumers of high-quality audio formats and equipment. CEA Preside Gary Shapiro said “According to our latest research, 56% of potential buyers say they’ve never heard what they’d consider to be quality audio. While [MP3 and other low-res audio files] may offer convenience, the quality of the audio experience is greatly diminished.” Guitarist Matt Roberts of the band said “We spend hours on a single element of a song that gets completely lost on an MP3 player. Great audio equipment can help fans and music lovers everywhere to hear music like they never have before.” The CEA has re-launched its consumer website www.GreatAudio.com
