Americans love electronics

The average U.S. household spent $1,229 on consumer electronics (CE) products in the past 12 months, $176 less than in the prior year, according to a recent report by the Consumer Electronics Association.

“As products such as smartphones and GPS units incorporate a greater number of features and consumers replace older CE devices with newer ones, it’s not surprising to see the average number of products owned fluctuate,” Ben Arnold, CEA’s senior research analyst, noted in a statement. “While consumers report spending less on CE, ownership of nearly all products measured in this study are higher compared to last year showing that consumers continue to buy CE products but are purchasing them at lower price points.”

Findings of the 11th Annual Household CE Ownership and Market Potential Study include:
• On average, men continue to spend more on consumer electronics than women, spending $902 annually compared to women, who spent $558.

• Consumers ages 18-24 spent $1,056 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.

• 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. DVD players (93% penetration rate) and cell phones (90% penetration rate) are the next most commonly owned CE devices.

The CEA is the largest trade association promoting growth in the $172 billion U.S. consumer electronics industry. More than 2,200 companies are members of CEA.