Also, Most U.S. Households Now Own a High-Definition Television
The average U.S. household spent $1,229 on CE products in the past 12 months, $176 less than in the prior year, according to a new study released today by the Consumer Electronics Association. According to the 11th Annual Household CE Ownership and Market Potential Study, video products are expanding already high levels of ownership.
On average, men continue to spend more on consumer electronics than women, spending $902 annually compared to women, who spent $558. Young adults spent more than any other age group. Consumers ages 18-24 spent $1,056 last year on CE devices, an increase of nearly $100 from the prior year. The average household reports owning 23 CE products, down from 24 products last year. However, the number of discrete (separate) CE products per household increased from 13 to 15.
“As products such as smartphones and GPS units incorporate a greater number of features and consumers replace older CE devices with newer ones, it’s not surprising to see the average number of products owned fluctuate,” said Ben Arnold, CEA’s senior research analyst. “While consumers report spending less on CE, ownership of nearly all products measured in this study are higher compared to last year showing that consumers continue to buy CE products but are purchasing them at lower price points.”
The study also shows an increase in video product ownership. Televisions are the most owned CE device in the U.S., with 99 percent of households owning a TV. Fifty-two percent of households own at least one HDTV, an increase of 11 percent from last year and double the penetration rate from 2007. Ownership of plasma and LCD screens as well as sets over 40-inches are also on the rise. DVD players (93 percent penetration rate) and cell phones (90 percent penetration rate) are the next most commonly owned CE devices.
For more information, visit www.ce.org
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