CE Sales Increasing in a Downward Economy?
There's no avoiding the still-unfolding news about the state of the economy (this is a home theater website after all, so we assume you own a TV), but despite just about every consumer planning to cut back his or her spending in the weeks ahead, the CEA also shared cautious optimism borne of extensive consumer research. At their annual "CES Unveiled" preview event in New York City, they revealed that consumer electronics (CE) items are somewhere in the middle of those purchases that people might be eliminating from their spending this holiday season, in greater peril than necessities like clothes but safer from the axe than sporting goods and new furniture, for example.
The far-reaching survey also revealed that heading up adults' holiday wish lists are the unexpected combination of Peace, Happiness and Computers, with TVs and video games slightly further down the list of most coveted presents. Apparently all demographics (but especially 25-to-34-year-olds ) still have a strong appetite for under-the-tree CE devices, leading to predictions of a 3.5% uptick in electronics sales versus the same period last year. Overall spending will be down but CE will represent a bigger piece if the gift-giving pie.
With the Digital Transition looming larger every day, and prices of flat panel TVs at all-time lows, there's never been a better time to buy that new digital TV or HDTV set. Online shopping continues to grow as an alternative to visiting that brick-and-mortar retailer, and the undeniable appeal of the latest videogame consoles makes them mighty tempting to both givers and potential recipients. External storage devices are also becoming increasingly relevant as more folks seem to be maxing out their computers and Digital Video Recorders with movies, photos and MP3s. DVRs are new to the Top 10 list of most-wanted tech gifts, along with GPS navigation devices.
One reason for the industry confidence is the popular notion of "cocooning," as an evening of movies, videogames and other entertainment at home with the family is a high-value proposition compared to a lot of outside-the-home activities like actually going to the movies. And more important trends than ever are higher-efficiency, lower-waste "green" products, embedded internet functionality within devices, and the ongoing allure of wireless technology.
Bring on the Entertainment
Turning to details about January's International CES in Las Vegas, NBC Universal Chief Digital Officer George Kliavkoff announced the media and entertainment company's role as Official Broadcast Partner for CES, transmitting live from the show floor in addition to their brand-new interactive TV/movie/etc. exhibit for in-person visitors to enjoy. Not to be outdone, Sony Pictures Television President Steve Mosko let it be known that his peeps will be touting their cross-platform content in Sin City as well.
Plus in honor of Jeopardy!'s silver anniversary, Sony will record daily episodes of Celebrity Jeopardy! on an elaborate new set to be erected in the center of all the CES action. However, the supreme surprise came when Noel Lee spilled the beans about snagging Diana Ross to headline their 30th anniversary concert. See? Consumer electronics are products, but they're really all about the entertainment.
Also on display at the press preview were winners of this years CEA Innovations Awards. We saw a few that caught our eyes this year over the din of cocktails and finger food. Here are our favorites:
