Commentary

Holiday Consumer Tech Spending To Hit $97 Billion: CTA

The coming holiday shopping season looks to be a strong one for smart home products.

More than half (59%) of U.S. adults plan to purchase a smart home product, such as a smart doorbell or lightbulb, as a gift, according to a new forecast.

Smart speakers like Amazon’s Echo line and Google Home lead the category with more than a third (38%) of adults planning to purchase one, according to the Consumer Technology Association (CTA) study.

Overall technology spending is expected to reach $97 billion in the U.S. with 186 million adults (74%) planning to purchase a tech product as a gift.

Nearly half (43%) of adults plan to buy a wearable. More than 9 million smartwatches expected to be sold.

A total of 8 million wireless earbuds are projected to be sold, a 45% increase from last year.

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Half of adults plan to purchase videogame products as gifts with 33% planning to buy a videogame console such as Xbox One X or PlayStation 4 Pro and accessories.

The majority (87%) of adults plan to shop at brick-and-mortar stores for tech gifts and 80% plan to shop online.

Of online shoppers, 65% plan to do so via mobile device and 33% plan to use voice-activated digital assistants.

The five tech gifts consumer most want are laptops, smartphones, TVs, tablets and wearables, according to CTA.

Chances are that many of those consumers will be receiving a smart home device.

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