14% of consumer eletronics spending happened online in 2007
Over 14% of the nearly $160 bln spent on consumer electronics (CE) over the previous 12 months was spent online, up from 5% in 2005, according to Consumer Electronics Association. CEA has estimated that consumers will spend a record-breaking $22 bln on consumer electronics gifts this holiday season. A vast majority of consumers gave both the online (89%) and in-store (80%) experiences ratings of good or excellent, marking an increase for the web and consistent ratings for store-fronts. The growth of online purchasing also creates opportunities for traditional CE retailers. The study reveals that brick and mortar retailers are the most commonly visited sites by online CE shoppers. In addition, more consumers go online to research and compare prices and then buy in the store (47%) than vice versa (17%). A growing number of consumers (11%) are even going online and then picking the item up in the store, creating additional selling opportunities in the process.