Anyone worried the rise $1000 phone would drive buyers out of the market can breathe a sigh of relief. The Consumer Technology Association just released its 25th annual report on holiday tech spending and found customers are ready to hand over big bucks this holiday season for the latest gear.
It’s not that more people are in the market for consumer tech. The CTA’s 25th Annual Consumer Technology Holiday Purchase Patterns Study finds about the same number of people plan to buy technology this season as in 2017, about 164 million. But the rising cost of the latest gadgets are pushing the bottom line to new records.
“2018 has shown us that consumers are willing to spend a premium on technology that is essential to their everyday lives – such as smartphones, laptops and TVs – and we expect that dynamic to continue through the season, driving overall holiday consumer tech sales to a new high this year,” Ben Arnold, senior director of innovation and trends for CTA said. “In addition to those core devices, key emerging categories to watch this holiday season are smart home devices – powered by voice technology – smartwatches and wireless earbuds.”
TVs, laptops, smartphones and tablets, smartwatches, cameras and desktop computers are the top items holiday shoppers are looking for, according to the study, which predicts Americans will spend $96 billion on high-tech holiday gifts this year.
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