CTA Foresees U.S. Tech Spending Revenue at $97.1 Billion
The CTA study report predicts 11.3 million units of smart home devices to be shipped during the holiday season.
SEATTLE (Scrap Monster): The Consumer Technology Association (CTA) predicted the U.S. technology spending during the holiday season from October to December this year to touch $97.1 million in revenue. This is slightly higher from the actual spending in 2018.
In accordance with CTA’s 26th Annual Consumer Technology Holiday Purchase Pattern Study formulated by CTA Market Research, nearly 186 million adults in the country plan to buy a tech product as a gift this year. Also, more than 70% of adults plan to purchase a content-related gift such as video game discs or entertainment services such as Netflix or Hulu. The top five tech gifts that feature in wish lists this year are laptops, smart phones, televisions, tablets and wearable devices in that order.
Nearly 87% of the U.S. adults prefer brick-and-mortar stores for shopping tech gifts, whereas 80% plan to shop online.
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The CTA study report predicts 11.3 million units of smart home devices to be shipped during the holiday season. The sales of smartwatches are likely to increase by 2% to total around nine million. Also, it expects wireless earbuds to clock sales of nearly 8 million units. Another popular gift this holiday season will be videogame products.
Lesley Rohrbaugh, director of market research, CTA noted that the increased consumption of content across more devices has brought in the golden age of content. Entertainment tops the wish list, mainly on account of new video streaming services, 4K Ultra HD content and larger screens on televisions and smart phones.