ARLINGTON, Va.--(BUSINESS WIRE)--Online consumers are planning to spend $10 billion on home audio products in the coming year, according to the Consumer Electronics Association (CEA®). The figure, which includes speakers, receivers, media servers and other home audio products, is a result of CEA’s 2007 Audio Purchasing Study, which was designed to evaluate online consumers’ approach in purchasing home audio products including Home-Theater-In-A-Box (HTIB) systems, component A/V receivers and speakers.
Additional results indicate consumers were more likely to buy from a store that provided a product demonstration. In fact, survey respondents reported that the demonstration was so influential that it led them to spend more money or purchase more products than they had originally anticipated.
“The data clearly shows that retailers who offer demonstrations have a greater chance of capturing the sale,” said Steve Koenig, CEA’s senior manager of industry analysis. “Home audio products sell best when they are heard—just as TVs sell best when they display compelling content.”
Audio sales have been challenged in recent years despite a rising tide of sales for other consumer electronics segments, including flat-panel HDTV displays. However, the results of this study suggest that consumer interest in home theater and an overall trend toward greater realism may be catalysts that help buoy sales of home audio products in the coming years.
The 2007 Audio Purchasing Study (March, 2007) was conducted between November 27 and December 5, 2006. It was designed and formulated by CEA Market Research, the most comprehensive source of sales data, forecasts, consumer research and historical trends for the consumer electronics industry. Please cite any information to the Consumer Electronics Association (CEA ®). The complete study is available free to CEA member companies. Non-members may purchase the study for $599 at http://www.ebrain.org/crs/crs_all.asp.
The Consumer Electronics Association (CEA) is the preeminent trade association promoting growth in the consumer technology industry through technology policy, events, research, promotion and the fostering of business and strategic relationships. CEA represents more than 2,100 corporate members involved in the design, development, manufacturing, distribution and integration of audio, video, mobile electronics, wireless and landline communications, information technology, digital imaging, home networking, multimedia and accessory products, as well as related services that are sold through consumer channels. Combined, CEA's members account for more than $140 billion in annual sales. CEA's resources are available online at www.CE.org, the definitive source for information about the consumer electronics industry.
CEA also sponsors and manages the International CES – Defining Tomorrow’s Technology. All profits from CES are reinvested into industry services, including technical training and education, industry promotion, engineering standards development, market research and legislative advocacy.
UPCOMING EVENTS -- EHX Spring 2007 March 6-10, 2007, Orlando, FL -- CEA Washington Forum March 26-28, 2007, Washington, DC -- Digital Patriots Dinner March 27, 2007, Washington, DC -- CONNECTIONS(TM): The Digital Home Conference and Showcase May 1-3, 2007, Santa Clara, CA -- Hometech Middle East 2007 May 13-15, 2007, Dubai, UAE -- SINOCES 2007 July 6-9, 2007, Qingdao, China -- CEA Industry Forum October 15-17, 2007, San Diego, CA -- EHX Fall 2007 November 6-9, 2007, Long Beach, CA -- 2008 International CES January 7-10, 2008, Las Vegas, NV