ARLINGTON, Va.--(BUSINESS WIRE)--Consumer confidence toward technology spending and the overall economy both increased in November, according to the latest data released today by the Consumer Technology Association (CTA)™, formerly the Consumer Electronics Association (CEA)®.
The CTA Index of Consumer Technology Expectations (ICTE), which measures consumer expectations about technology spending, jumped 8.8 points to 92.1 in November, a bigger leap than has been historically seen this time of year.
“Consumer sentiment traditionally moves higher in advance of Black Friday and the prime holiday shopping season,” said Shawn DuBravac, Ph.D., chief economist, CTA. “Black Friday sales have already started and will accelerate as more consumers report they plan to purchase videogame consoles, televisions and tablets, among other tech items during this holiday season.”
According to CTA’s 2015 Pre-Black Friday Survey, a record-setting 91 million Americans expect to purchase tech or tech accessories during Black Friday Week (the Monday before Thanksgiving through Cyber Monday). In total, a record 155 million U.S. consumers plan to shop during Black Friday and the surrounding week, with more than 70 percent of those shoppers planning to shop online.
The CTA Index of Consumer Expectations (ICE), which measures consumer sentiment about the U.S. economy as a whole, increased 2.7 points from October to reach 172.6.
“Consumer confidence toward the overall economy increased in November, remaining on par with CTA Index levels from last year,” said DuBravac. “Apprehensions about the economy remain but consumers seem confident going into the most popular holiday shopping period.”
The CTA Indexes are updated on a monthly basis through consumer surveys. New data is released on the fourth Tuesday of each month. Find current and past indexes, charts, methodology and future release dates, on the CTA Indexes page.
MEDIA CALL: CTA plans to give a first look at the 2015 Post Black Friday Report on Sunday, Nov. 29 at 1 PM ET/10 AM PT and discuss key data from Black Friday, including what tech consumers purchased, and when and where they shopped. To participate, dial 866-740-1260 and access code 9074326.
About Consumer Technology Association:
The Consumer Technology Association (CTA)TM, formerly the Consumer Electronics Association (CEA)®, is the trade association representing the $285 billion U.S. consumer technology industry. More than 2,200 companies – 80 percent are small businesses and startups; others are among the world’s best known brands – enjoy the benefits of CTA membership including policy advocacy, market research, technical education, industry promotion, standards development and the fostering of business and strategic relationships. CTA also owns and produces CES® – the world’s gathering place for all who thrive on the business of consumer technology. Profits from CES are reinvested into CTA’s industry services.
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