Consumer electronics spend report
Consumer electronics are a hot commodity. NPD reports consumers now spend $555 per person on new electronic devices [source: NDP Group]. With 2.9 people in the average household (as per the latest Canada census), households are spending over $1,600 on consumer electronics annually. Home Audio is a Top 3 choice and growing.
What do people plan on spending their $1600 on this year?
Streaming video in, Blu-Ray players out
Purchase expectations for some other categories that were once in high demand are on the decline. Blu-Ray player purchase intent declined from 16% in 2012 to 12% in 2013, reflecting both the maturity of the product category and competition from other devices that also deliver video content. Streaming media players, newer technology that let people play streaming video on their big screen TV, are owned in just 8% of U.S. households, but Q2 2013 sales nearly equalled Blu-Ray players.
The continued sales growth of tablets and connected TVs will also challenge consumer adoption of Blu-Ray.
“Today, it seems that nearly any device with a screen and an Internet connection can be used as a video player,” said Ben Arnold, NPD’s director of industry analysis. “As a result, Blu-ray players are now competing as one of many options for watching video content, and sales of video devices reflect this shift.”
Soundbars popular, surround sound sales decline
Other changes in the marketplace have actually benefited existing product categories. Growing adoption of mobile devices like tablets and smartphones has helped fuel sales increases in stereo headphones with microphones (up 65%) and wireless streaming speakers (almost 400%). In home audio, household ownership of audio systems featuring surround sound has declined to 29 percent, while soundbar adoption (now at 9% of households) and sales (up 54% compared to last year) continue to grow as consumers gravitate to sleek soundbar designs with a minimal footprint in the living room.
“As consumer electronics products become embedded with more features and evolve in design, existing product categories will continue to be challenged by new devices coming to the market,” said Arnold. “While mobile devices have been the catalyst behind much of the current shifts in the industry, more change is likely upon us as hardware manufacturers and application developers push into new usage scenarios and environments.”
Installing home audio that works with devices
Builders and professional installers can deliver home audio better than any retail box product. Levven Audio is installed multi-room audio that works with every app on all your devices. That fits perfectly with customer demand for products that work with the way they use their devices.
Levven Audio gives builders a better bottom line, better customer satisfaction and a company brand with more impact.
Capture this $1600 household spending! Offer Levven Audio to your customers.