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The average U.S. household owns an average of 25 consumer electronics products and spends $1,250 annually on the category, according to a Consumer Electronics Association (CEA) survey.
The 2005 CE Ownership and Market Potential survey shows that households are equally enthusiastic about content, owning an average of 100 music CDs, more than 40 DVD movies and 16 video games.
“U.S. households spend heavily on consumer electronics because they recognize the tremendous value these products deliver,” CEA's president/CEO Gary Shapiro said. “Few industries provide products where prices consistently fall while features and performance consistently rise.”
The survey cites the ongoing transition from analog products to digital products as a continued growth factor in the industry. The average U.S. home now has 3.1 television sets, up from an average of 2.4 sets last year. Digital high-definition televisions are present in roughly 13 percent of households, flat-panel televisions in about 10 percent of homes, digital video recorders in almost 10 percent, and DVD player penetration rates are on the verge of eclipsing VCRs.
The survey surveyed a random national sample of 869 head-of-household adults.
For more information on the survey, visit www.ce.org.
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.