Online consumer electronics spending grows to $22.5 billion
Over 14 percent of the nearly $160 billion spent on consumer electronics (CE) over the previous 12 months was spent online, up from 5 percent in 2005, according to a study released by the Consumer Electronics Association (CEA). According to The State of CE Retail, CE products follow only books and clothing as the items most frequently purchased online. Desktop PCs, wireless phones and digital cameras emerged as the most popular CE products for online shoppers. The study also reveals that consumers are pleased with their online and in-store experiences.
A vast majority of consumers gave both the online (89 percent) and in-store (80 percent) experiences ratings of good or excellent, marking an increase for the web and consistent ratings for store-fronts. In particular, the brick-and-mortars demonstrated strong improvements in product information, wait times while in line and salesperson knowledge. Survey results show that selection and convenience are seen as primary benefits of purchasing consumer electronics online.
The growth of online purchasing also creates opportunities for traditional CE retailers. The study reveals that brick and mortar retailers are the most commonly visited sites by online CE shoppers. In addition, more consumers go online to research and compare prices and then buy in the store (47 percent) than vice versa (17 percent). A growing number of consumers (11 percent) are even going online and then picking the item up in the store, creating additional selling opportunities in the process.
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By awaycamp » Blog Archive » Online consumer electronics spending grows to $22.5 billion on November 19, 2007 9:18 pm