American households spend 1,400 dollars annually on CE

The average U.S. household reports spending 1,405 dollars on consumer electronics products in the past 12 months--120 bucks more than the year before, according to new research by the Consumer Electronics Association. The 10th Annual Household CE Ownership and Market Potential Study shows that HDTVs will have the highest growth in household penetration rates this year. Cell phones, MP3 players, digital cameras and laptop computers are also driving growth in the industry.

The increasing popularity of multi-functional devices has led to a slight drop in the average number of consumer electronics (CE) products owned per household, from 25 products in 2007 to 24 in 2008. As devices combine functions, consumers are able to consolidate their products.

The demographics of a household also determine CE purchases. Households with three or more people report owning 32 devices compared to just 17 for smaller households. Men also tend to own a larger number of, and spend more on, CE products, on average, than women. The study shows the average man reports owning 25 CE devices and will spend more than 1,000 on CE products in 2008 compared to the average women, who owns 21 devices and will spend 600.

Despite uncertain economic times, the growth in the CE industry is projected to continue in 2008. With strong growth in several categories including flat-panel displays, PCs and video game systems, the industry is on pace to outperform last year’s total of 161 billion in overall shipment revenues.