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CEA's annual Holiday Sales and Forecasts survey provided several insights as to why consumers might be more conservative in their holiday buying this year vs. last year.
Consumers are worried about, in order, unemployment, inflation/cost of living, wage issues, Presidential performance and war. The results are reflected in the survey's “Mom and Dad” category wanting peace and happiness as their No. 1 “gift” for this holiday season with “family together/money” as No. 4.
When asked if the economic outlook was better or worse than last year, 41 percent said worse, a slight drop from last year's survey, while 24 percent said it was better, a 4 percent gain.
Among the factors that could affect spending include losing a job, stock surge, stock crash, a weather event, terrorism and war.
Interestingly, consumer spending seems unrelated to whether President Bush or Senator Kerry wins the election. The results are dead even, even in this poll. Those who say they will “spend more,” “spend less” or neither —”no effect” — are exactly the same.
This TWICE webinar, hosted by senior editor Alan Wolf, will take a look at what may be the hottest CE products at retail that will be sold during the all-important fourth quarter. Top technologies, market strategies and industry trends will be discussed with industry analysts and executives.