IHS Technology Survey Forecasts Big Year for U.S. Holiday Consumer Electronics Purchases
November 21 2014 - 10:54AM
Business Wire
U.S. holiday CE consumers plan to spend an average of $768.55 on
smartphones, tablets, laptops, TVs, game consoles and other
electronics
IHS Inc. (NYSE: IHS), a leading global source of critical
information and insight, today announced that seven out of 10 U.S.
consumers (68 percent) plan to buy consumer electronics (CE) during
the 2014 holiday season. According to the “U.S. Holiday CE Consumer
Survey,” more than one third of respondents (37 percent) plan to
make at least one electronics purchase on Black Friday, 32 percent
plan to purchase online during Cyber Monday, and 50 percent expect
to buy electronics some other time in November or December.
“While the fourth quarter is always the most dynamic in terms of
sales, mostly due to holiday spending, this year consumer
confidence is very high,” said Veronica Gonzalez-Thayer, senior
analyst for consumer electronics at IHS Technology. “Nearly half of
respondents indicated a willingness to spend more than $500 on
electronics for the holidays.”
U.S. consumers intending to buy electronics products during the
holidays plan to spend an average of $769. “Additionally, we’re
seeing a shift in where consumers choose to spend money on CE
devices during the holidays,” Gonzalez-Thayer said. While just 15
percent of consumers plan to make their CE purchases only online,
she said, the same percentage report they would purchase only in a
brick-and-mortar store. However, nearly two thirds (67 percent) of
consumers plan to purchase CE products both online and
in-store.
Amazon leads other retailers when it comes to planned holiday CE
purchases this year, with 76 percent of survey respondents
indicating they will purchase from the online retailer, followed by
Walmart (73 percent), Best Buy (66 percent), and Target (63
percent).
TVs are especially prominent on holiday CE wish lists, with 34
percent of consumers planning to purchase at least one set during
the holidays. Nearly one quarter (23 percent) of survey respondents
expect to purchase a TV with a screen size of 50 inches to 59
inches, while 22 percent expect to purchase a TV with a screen size
of 40 inches to 45 inches. When it comes to brands, 66 percent of
consumers plan to purchase a Samsung, Vizio, Sony or LG TV.
However, IHS expects that heavy price discounts and other
promotions will change this scenario in favor of low-tier
brands.
The TV features that consumers want most, and are willing to pay
more for, include smart TVs (34 percent) and 4K/UHD TVs (29
percent). Said Gonzalez-Thayer, “the consumer preference for
premium features is good news for TV manufacturers, who are trying
to leverage on these to increase profits and augment demand.”
The “U.S. Holiday CE Consumer Survey” from IHS is based on a
survey with 800 respondents conducted the week prior to
Thanksgiving 2014. For more information and further insights about
consumer electronics, visit technology.ihs.com.
About IHS
(www.ihs.com)
IHS (NYSE: IHS) is the leading source of information, insight
and analytics in critical areas that shape today’s business
landscape. Businesses and governments in more than 165 countries
around the globe rely on the comprehensive content, expert
independent analysis and flexible delivery methods of IHS to make
high-impact decisions and develop strategies with speed and
confidence. IHS has been in business since 1959 and became a
publicly traded company on the New York Stock Exchange in 2005.
Headquartered in Englewood, Colorado, USA, IHS is committed to
sustainable, profitable growth and employs more than 8,000 people
in 31 countries around the world.
IHS is a registered trademark of IHS Inc. All other company and
product names may be trademarks of their respective owners. © 2014
IHS Inc. All rights reserved.
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For IHS Inc.Lee Graham, +1
212-333-4983lee@leegrahampr.comorPress Team+1
303-305-8021press@ihs.com
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