Looks like there will be a lot of technology gadgets under the Christmas tree this year, and most of it will require broadband. Technology spending will be just short of $100 billion for the 2019 holiday season (October-December), according to a holiday tech spending forecast from the Consumer Technology Association (CTA).
In its annual holiday purchase patterns study, CTA said that the projected $97.1 billion in expected technology revenue for the period is on a par with last year’s actual spending. Leading the market this year will be streaming service subscriptions and video games, with 74% of U.S. adults expecting to buy at least one tech product as a gift.
More specifically, just over seven-in-ten U.S. adults (71%) plan to purchase a content-related gift this year, including videogame discs (43%) and streaming or download entertainment services such as Netflix or Hulu (39%).
“We are in the golden age of content as more people consume more content across more devices,” said Lesley Rohrbaugh, CTA director of market research, in a prepared statement. “New video streaming services, more 4K Ultra HD content and larger screens on TVs and smartphones are putting entertainment on gift lists this holiday. Screens like laptops, smartphones and TVs will top wish lists and we’ll see a rise in emerging tech categories like smart home devices and wearables too.”
In other categories:
- Smart devices: More than half (59%) of U.S. adults plan to purchase a smart home product such as a smart doorbell, camera or lightbulb, according to the report. Smart speakers, such as the Amazon Echo and Google Home, top the category with more than one third (38%) of U.S. adults planning to purchase one this season.
- Wearables: As new features emerge with enhanced health capabilities and mobile connectivity, 43% of U.S. adults plan to buy a wearable (including smartwatches and fitness trackers) this holiday.
- Wireless Earbuds: Eight million units are expected to sell – a 45% increase over 2018.