Consumer confidence in consumer electronics reached the highest level in the history of the CEA-CNET Index, according to the Consumer Electronics Association (CEA) and CNET.
The CEA-CNET Index of Consumer Technology Expectations (ICTE) reached 93.5, the highest level of the index since tracking began in January 2007. The ICTE, which measures consumer expectations about technology spending, also saw the largest sequential increase in the history of the index. The ICTE climbed more than 14 points from October and is up more than nine points from this time last year. CEA's recent 16th Annual CE Holiday Purchase Patterns Study underscored consumer's desire for technology in finding that 80% of individuals want consumer electronics as a gift this holiday, the highest results in the history of the study.
"This holiday shopping season is shaping up to be a digital one with consumers looking to purchase technology gifts," according to Shawn DuBravac, CEA's chief economist and director of research. "November's index results show consumers are eagerly anticipating purchasing electronics on Black Friday and during the rest of the holiday shopping season even with a difficult overall economic picture."
Consumer confidence in the overall economy decreased this month. The CEA-CNET Index of Consumer Expectations (ICE) fell to 165.3, the lowest level since July 2008. The ICE, which measures consumer expectations about the broader economy, is down nearly nine points from last month and down more than four points from this time last year.
"Consumers continue to worry about the overall direction of the economy," said DuBravac. "Concerns over a still declining job market and personal financial health persist among many Americans."
to Daily News