CEA Reports Consumers Less Bullish About Tech Purchases
ARLINGTON, VA.— Consumers expect to spend less on technology, reporting consumer confidence lows in line with those last noted in 2009 in the recent September report. However, consumers reported feelings about the economy in line with reports from August 2013.
According to the Consumer Electronics Association’s Index of Consumer Technology Expectations, consumer confidence decreased by 6.5 points to 80.7 in September.
“Despite key product launches this month, broad consumer appetite for tech showed signs of waning in CEA’s most recent sentiment readings,” said Shawn DuBravac CEA’s chief economist and senior director of research. “Given some broader economic uncertainties and a generally poor back-to-school spending period, consumers might be holding back on tech purchases.”
Recent CEA research found that among the 51 percent of U.S. adults expecting to purchase consumer electronics before the end of the year, 62 percent plan to delay some or all of those purchases until Black Friday or later in the holiday season.
The CEA Index of Consumer Expectations decreased by 0.9 points in September to 161.7, about 10.5 points lower than this period in 2012.
“Economic sentiment is roughly consistent with last month,” said DuBravac. “However, headwinds remain as we head into the final months of the year with acute near-term policy risks.”