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.