October 18, 2004 1:54 PM PDT
TVs, cameras top holiday plans
That's according to the Consumer Electronics Association, whose annual forecast for the holiday shopping season--released on the first day of the group's Industry Forum conference--predicts solid growth in sales of high-definition TV sets, MP3 players and other high-tech gadgets.
Overall, the trade group expects a 5 percent increase in wholesale revenue from electronics devices for the 2004 holiday season. That's a drop from the surprise 14 percent growth seen last year, said Sean Wargo, director of industry analysis for CEA, but still good for an uncertain economy and a strong sign of a turnaround from the declines of 2001 and 2002.
The CEA report, based on interviews conducted in early October with 1,000 U.S. households, also found folks yearning for things money can't buy. "Peace and happiness" was the No. 1 most-wanted gift among adults, followed by clothes and more time with their family. Kids, bless their greedy little hearts, showed more consistency by demanding toys and video games.
For grown-ups looking for something with an electric cord, high-definition TV sets were the most sought-after item for this year and the biggest revenue generator from last year, though Wargo said it's unclear how many of those 36-inch marvels really qualified as gifts. "People are really buying these for themselves," he said, coining the term "self-gifting" for the phenomenon of luxury purchases that happen to coincide with the end of the year.
For smaller-ticket items, digital cameras are still big news, ranking as the No. 2 most-requested item among adults. Revenue for digital cameras is expected to increase 24 percent this year. Laptop PCs are expected to be another strong seller, with revenue expected to be up 13 percent.