Diverse Accessory Marketplace Helps CE Consumers Personalize Products, According to CEA Research
ARLINGTON, VA, Aug. 9, 2005 — No longer considered just a luxury purchase, consumer electronics accessories are gaining in sales and revenue, according to research recently released by the Consumer Electronics Association (CEA). Good news for retailers and manufacturers, the projected growth is great news for consumers who want to enhance the performance of other consumer electronic devices.
CEA Market Research expects consumer electronics accessories shipment revenues to grow by 11 percent in 2005, totaling year-end revenues of $8.3 billion. Consistent with trends pointing to overall consumer electronics industry growth, retail accessories sales should reach more than $11 billion in total sales this year.
“Accessories are vital to maximizing the performance of consumer electronics devices,” said CEA Research Director Joe Bates. “Whether a consumer is interested in improving device functionality or personalizing product appearance, the right accessory can offer the perfect compliment to substantially increase end-user satisfaction.”
CEA Market Research conducted a consumer survey – 2005 Accessories Purchasing Behaviors Study – which found that consumers increasingly are buying a consumer electronics device and then purchasing separate accessories as an upgrade to those provided with the original device. Research also demonstrates that consumer purchasing behavior in the accessories category differs across varying user groups. Opportunities for retailers range from the low-end cost conscious consumer, who makes up an estimated 19 percent of the expected accessory spending over the next 12 months, to the big spending consumer electronics enthusiast, who makes up 42 percent of the prospective accessories marketplace.
The 2005 Accessories Purchasing Behaviors Study was designed and formulated by CEA Market Research, the most comprehensive source of sales data, forecasts, consumer research, international research and historical trends for the consumer electronics industry. The complete study is available free to CEA member companies. Non-members may purchase the study for $499 at http://www.ce.org/CEAStore.
The Consumer Electronics Association (CEA) is the preeminent trade association promoting growth in the consumer technology industry through technology policy, events, research, promotion and the fostering of business and strategic relationships. CEA represents more than 2,000 corporate members involved in the design, development, manufacturing, distribution and integration of audio, video, mobile electronics, wireless and landline communications, information technology, home networking, multimedia and accessory products, as well as related services that are sold through consumer channels. Combined, CEA’s members account for more than $121 billion in annual sales. CEA’s resources are available online at http://www.CE.org, the definitive source for information about the consumer electronics industry.
CEA also sponsors and manages the International CES – Defining Tomorrow’s Technology. All profits from CES are reinvested into industry services, including technical training and education, industry promotion, engineering standards development, market research and legislative advocacy.