Record Amount Spent on Consumer Electronics This Holiday Season

Americans have shown an inclination towards spending on consumer electronics this holiday season, allocating nearly a third of their gift budget to gadgets.

"This holiday season, spending on consumer electronics gifts will reach historic highs, despite an overall decline in gift spending," the CEA said in its annual survey of holiday spending.

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"Overall, consumers will spend 750 dollars on holiday gifts, down two percent from last year," it said. "They will, however, spend more on consumer electronics gifts than ever before.

"Consumers will spend 232 dollars on consumer electronics gifts, up five percent from last year and the highest level since CEA began tracking holiday spending," the CEA said.

Among the most-wanted gifts for the holidays are computers, Apple's iPad, electronic readers, digital cameras, televisions and video games systems, the CEA said.

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Source-AFP

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