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Consumers Inseparable From Their CE

11/08/2010 12:01:00 AM Eastern

NEW YORK – The vast majority of
consumers can’t function without their
CE devices, particularly computers, a
new survey suggests.

According to a 2010 Electronics
Retail Survey commissioned by Eye,
a seller of outdoor and commercial
indoor ad space, fully 82 percent of
respondents said they could not live
without their electronics, and more
than half (52 percent) said their CE
devices define who they are.

The results are based on a random
sample of 608 adults aged 18 to 64
who were surveyed online in August by
pollster Toluna.

Computers were the overwhelming
favorite CE product, cited by 82 percent
as the one device they could not
live without, far outpacing TVs (14 percent),
digital cameras (3 percent) and
MP3 players (1 percent).

Not surprisingly, 92 of shoppers said
they planned to buy a computer within
the next three years. The next most
popular planned purchases included
DVDs (85 percent), video games (76
percent) and digital cameras (74 percent).
Half said they plan to purchase
a PDA within the next three years while
only 40 percent plan to purchase a 3D
TV.

The majority (60 percent) also said
they “cannot resist new gadgets.”
Best Buy was the most popular
brick-and-mortar destination for CE
shopping, with 75 percent having purchased
an electronics product there
over the past year. Other frequented
chains included Walmart (61 percent),
RadioShack (40 percent), Target (36
percent), Sears (27 percent) and Apple
Stores (26 percent.

Respondents’ favorite brands included:
Sony (58 percent), LG (45
percent), Hewlett-Packard (39 percent),
Samsung (36 percent) and Apple
(36 percent).

The vast majority (99 percent) said
advertising makes them aware of
new electronics products, and
more than half of those interviewed
for Eye’s Electronics Retail Survey
believe that mall advertising influences
their purchase decisions.
Ninety-seven percent of shoppers
like seeing new electronics products
advertised on larger formats,
and 96 percent said it helps them
choose between different CE
brands.

Three-quarters of respondents
said online advertising most influenced
their purchasing decisions,
followed by TV (73 percent) and
word of mouth (69 percent). Rounding
out the top five ad mediums
were ads in shopping malls (57 percent)
and magazines (46 percent).
IBM said it utilizes sophisticated
algorithms and 18 years of historical
data, including U.S. Commerce
Department retail sales reports, to
develop its forecasts, which analyze
both long-term trends and seasonal
peaks to provide a highly accurate
projection of industry sales.

Haydock added that disposable
income and the household savings
rate are both on the rise, which are
indications of pent-up consumer
demand.