The average U.S. household spent US$1229 on consumer electronics (CE) products in the past 12 months, $176 less than in the prior year, according to a study by the Consumer Electronics Association (CEA). 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, the study said. Young adults spent more than any other age group. Consumers ages 18-24 spent $1056 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, the report said.
The study also shows an increase in video product ownership. Televisions are the most owned CE device in the U.S., with 99% of households owning a TV. Fifty-two percent of households own at least one HDTV, an increase of 11% from last year and double the penetration rate from 2007. Ownership of plasma and LCD screens as well as sets more than 40-inches are also on the rise. DVD players (93% penetration rate) and cell phones (90% penetration rate) are the next most commonly owned CE devices.
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