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Why Consumers Are Spending More On Electronics In 2021 & Beyond

Updated: Oct 14, 2021

Consumer spending is on the rise, and it’s not stopping. With a whopping $850 billion spent in-store and online from consumers in 2019, it shows people love spending… especially during the Holiday Season. With the minimum wage increase to 15 an hour in NY, and lower gas prices throughout the U.S. it’s evident and clear to see that spending will increase.Body: The CTA report notes that spending on media streaming will account for about $5.2 billion of that projected increase for 2019, or about one-third alone… so you could only imagine other electronic products sold. The Electronic industry’s real bread and butter as of lately in 2018 was smartphones.

At $80 billion projected for 2019 on electronics sold, this basically represents almost 1 out of every 5 dollars people will spend on smartphones. Besides statistics of Electronic Spending this year, it’s great to see new trends and releases of electronics that will be cool and interesting that will get consumers spending.

Companies are now putting Alexa, Google Assistant, Siri and Bixby in everything from beds to toilets making your home smarter and allowing you to have Assistants everywhere! 2019 is going to be the year virtual assistants are literally everywhere in homes. Gaming laptops were out in full force in 2018, so this means an increase trend for 2019. Companies in 2019 were showing off innovative designs including thinness and amazing graphics that would have not been possible just a year ago. 8K is the trend that tv manufacturers are betting on as being the next big commercial success with retailers. TVs with four times the pixels of a 4K TV (16 times the resolution of 1080p HD) make the picture look amazing and a must buy to bring in customers.

Another big trend in TV at the Consumer Electronics Show this year,has nothing to do with TVs, but the tv streaming. Apple is opening up its iTunes movie and TV show store to Samsung TVs, no Apple TV streaming box required. That’s a huge source of content now available to Samsung TV owners.

5G is the next generation cellular network that promises speeds 20 times that of 4G LTE. Wireless providers are excited to get this network out soon. Smart Homes, Gaming Laptops, 8K TV, Apple TV as an application, and 5G networks are going to be huge this year in Consumer Electronic Spending in 2019.

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