CEA Technology Confidence Up, Confidence in Economy Down
Mar 28, 2011
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Consumer confidence in technology rose in March, according to the latest CEA Index from the Consumer Electronics Association; the index also shows that consumer confidence in the overall direction of the economy is down from last month.
The CEA Index of Consumer Technology Expectations (ICTE), which measures consumer expectations about technology spending, reached 78.5 in March, but remains five points lower than in March of 2010.
“Many retailers are still waiting for new product lines to be released, which is happening a few weeks later than it did last spring,” said Shawn DuBravac, CEA’s chief economist. “While several new and innovative products hit store shelves this month, the full breadth of new model resets has yet to happen.”
The CEA Index of Consumer Expectations (ICE), which measures consumer confidence about the broader economy, fell more than ten points to 161.4. The ICE is down for the second straight month and is slightly lower than this time last year.
“Increasing geopolitical concerns around the globe and weak results for the housing market domestically, coupled with the tragedy in Japan, have kept consumers on edge,” said DuBravac. “Consumers are still adjusting to higher gas prices, for example, which affect spending on the remaining categories, including tech.”
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