Circana: Electronics spending rises 3.5% during early December
Consumers took advantage of holiday sales to buy new tech gadgets and electronics.
New holiday sales figures from Circana reveal that total U.S. consumer technology spending grew 3.5% during the two weeks ending Dec. 7, 2024, compared to the same two promotional weeks a year ago. The increase comes following eight straight quarters of declining consumer electronics revenues following the pandemic boom.
Circana found that notebook computer sales grew 9% from a year ago, and desktop computers rose 7%, despite a relatively mild average selling price decrease overall. Tablet sales grew 13%, even after six straight months of double-digit growth.
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Despite overall TV dollars being down compared to 2023 on the combined weeks of Black Friday and Cyber Monday, unit sales of TVs larger than 75 inches were up 20% this year, and OLED TV sales grew 12%. Circana says these numbers prove not all TV buyers were looking for the lowest-priced sets this year, even in the face of sustained inflation.
VR headsets and AR glasses, which were a popular gift item last holiday season, saw combined Black Friday and Cyber Week sales increase 17%. Fitness trackers more than doubled sales season-to-date compared to last year, especially around smart rings.
Camera sales have been strong in 2024, fueled by the social-media-driven renaissance and digital creator economy. Camcorder sales, which include sales of action cameras, rose 28%, and mirrorless detachable lens cameras grew 2%.
Headphones continue to be a popular consumer electronic item. On/around ear wireless headband headphones grew 28% year-over-year for the two-week period.
“These results from the peak promotion weeks signal a strong start to the holiday shopping season for tech, but there are still a few more core shopping weeks to watch before the year closes,” said Paul Gagnon, VP and technology industry advisor at Circana. “As the full sales numbers emerge for the rest of the holiday season, the same emphasis on value and innovation will be the key to maximizing the abbreviated lead-up to Super Saturday.”
