CE purchases low in first half of 2009, but consumer intentions higher for the second half
PCs and flat-screen TVs remain popular; netbooks starting to generate consumer interest
This ongoing service, which surveys consumers on their past purchases and future intentions for over 35 CE products, found consumers are still hesitant to buy, with fewer households overall buying CE than in 2007 and 2008.
"In general, U.S. consumers who are buying are taking longer to do so, spending more time researching the product, and then waiting for the right time - meaning a sale or steep discount - to make the purchase," said Tricia Parks, CEO, Parks Associates.
The most popular purchases in the first half of 2009 were desktops, laptops, and LCD flat-screen TVs, with 14-17% of households buying these products. With 5% of households purchasing in the first half, netbooks are showing a strong market start. Intentions to purchase netbooks are fairly high for the second half of 2009; this new product category will be in over 10% of broadband households by New Year's.
"Through our multiple surveys, we have tracked that high intention to purchase falls within 2% of actual purchase rates for almost all product categories, so vested shoppers are following through on their purchase plans," Parks said. "Fortunately, intentions to purchase are higher in the second half of 2009 - we'll see a spike for several products for Christmas and the holiday season, including smartphones, earbuds, GPS devices, and digital photo frames."
Parks Associates' Consumer Decision Process service provides comprehensive tracking and analysis via multiple surveys throughout the year on consumer purchases, intentions, brands, brand loyalty over time, shopping processes, information sources, prices paid, future budgets, and triggers to purchase phases. The next survey will measure holiday shopping intentions of U.S. consumers.
Tricia Parks will present data and analysis from Consumer Decision Process in the upcoming Webcast "Year-end Outlook for Consumer Electronics Purchases." For more information, visit www.parksassociates.com or contact email@example.com, 972-490-1113.
Parks Associates is an internationally recognized market research and consulting company specializing in emerging consumer technology products and services. Founded in 1986, Parks Associates creates research capital for companies ranging from Fortune 500 to small start-ups through market reports, primary studies, consumer research, custom research, workshops, executive conferences, and annual service subscriptions.
The company's expertise includes new media, digital entertainment and gaming, home networks, Internet and television services, digital health, mobile applications and services, consumer electronics, and home control systems and security.
Each year, Parks Associates hosts executive thought leadership conferences CONNECTIONS(TM) , with support from the Consumer Electronics Association (CEA®), and CONNECTIONS(TM) Europe. Parks Associates produces the online publication Industry Insights in conjunction with the CONNECTIONS(TM) Conference series.