HD Price Drops Increase Consumer Spending by 12 Percent

Posted Mon May 10, 2010 at 10:15 AM PDT by

And according to the CEA, 65 percent of all US homes have an HDTV. That's a nice step up over most estimates.

The Consumer Electronics Association has a good reason to show some bias, but the new study is heartening no matter how you look at it.

To start with, spending on consumer electronics is up. The new study showed that the average home spent $1,380 on CE products in the last year, which is $151 above the last study, taken six months ago. According to the CEA, one of the biggest reasons for the increase was price drops on everything high definition.

The CEA also found that 65 percent of homes have an HDTV, which is a huge increase over most estimates, which put it at 53. 25 percent said they were going to buy a new TV in the next year (I've been saying that for two years now) and 85 percent own at least one computer.

Men spent the most, with an average of $969. Women came in at $631.

Source: Home Media Magazine

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Tags: Industry Trends, High-Def Retailing (all tags)