CEA: Consumer Confidence in Technology Hits 2012 Peak
Sep 26, 2012
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Consumer confidence in technology reached its highest point in 2012 in September, according to the latest CEA Index released today by the Consumer Electronics Association (CEA). The CEA Index also showed an improvement in consumer confidence in the overall economy.
Consumers' confidence to spend on technology was at its highest level for the month of September since the launch of the CEA Index, and was its fifth highest monthly level overall.
One component of the index, the Index of Consumer Technology Expectations (ICTE), was up 4.9 points to 92.4 in September 2012. ICTE indexes consumer expectations about technology spending. The index was up 10.5 points from September 2011 and was at its highest since December 2011.
"There were several key high-tech product announcements this month which served as an important catalyst for tech buying heading into the fourth quarter and the holiday shopping season," said Shawn DuBravac, CEA chief economist and senior director of research. "This month's measure of sentiment is at levels typically only seen during the height of the holiday buying season, an indication that consumers are likely to buy and spend more on tech in the weeks ahead."
Consumer sentiment about the overall economy was also up in September 2012. The Index of Consumer Expectations (ICE) was up 3.5 points from August 2012 to hit 172.2. ICE measures consumer expectations about the broader economy, and is up almost 15.4 points from September 2011.
"Despite rising gas prices, uncertainties overseas, domestic elections and the slow recovery of the U.S. economy, an improved stock market and an increase in housing prices has consumers feeling more confident about their financial future," said DuBravac. "The wealth effects are real and will help consumers feel as if they are on firmer ground financially."
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