Holiday Forecast: Consumer Electronics Sales Up 4%
Oct 2, 2013
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United States retail sales of consumer electronics in November and December 2013 are expected to be up 4.0% from 2012, to $738 billion in total revenue, according to the Consumer Electronics Association.
The forecast said holiday sales performance will be driven by the online sales channel. The association expects online sales to grow 18.7% to $57 billion. Mobile purchases are expected to be up 35% and top $8 billion for the first time in the 2013 holiday season. Mobile purchases are expected to account for nearly 15% of online holiday purchases.
"The online retail channel will dictate holiday sales this season," said Shawn DuBravac CEA's chief economist and senior director of research. "Retailers and manufacturers should take note of shifting shopping habits as consumers increasingly turn online and to their mobile devices to make purchases."
CEA expects overall 2013 holiday retail sales to be about the same as 2012 holiday sales. In the 2012 holiday season consumers spent $709 billion at retail on General Merchandise, Apparel and Accessories, Furniture and Other Sales (GAFO), and CEA expects 2013 growth to be subpar at 2.7%.
"Overall retail holiday sales growth looks healthy for 2013," said DuBravac. "However, significant economic risks remain unresolved, and these could still negatively impact how much consumers decide to spend this holiday season."
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