NPD Forecast: Historic U.S. Consumer Technology Sales in 2020 Set the Stage for Long-Term Industry Expansion
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2020 was a year of historic growth for the U.S. consumer technology industry with sales up 17%
“The pandemic has renewed recognition of the critical value of technology to consumers, so while sales comparisons may stagnate, demand on an overall basis for consumer electronics will be higher for the next two years than it would have been without the events of 2020.” PORT WASHINGTON, N.Y. (PRWEB) January 08, 2021 2020 was a year of historic growth for the U.S. consumer technology industry with sales up 17% (through Dec. 26, 2020)[1] and according to The NPD Group’s latest Future of Tech[2] forecast this momentum will continue into the first quarter of 2021. In Q1 2021, NPD expects 12% consumer tech sales growth versus Q1 2020. But even with a strong start to the year, comparisons to the
Consumer Purchases Reveal Desire for Stress Relief and Self-Care While at Home, Reports NPD
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2020 has brought new meaning to the term stressful. Hunkered down in their homes and feeling the anxiety and stress of the ongoing pandemic, U.S. consumers have been purchasing at-home remedies to relieve their stress. Sales of self-help books, candles, and massaging appliances have all grown by double-digits this year, reports The NPD Group. PORT WASHINGTON, N.Y. (PRWEB) December 23, 2020 2020 has brought new meaning to the term stressful. Hunkered down in their homes and feeling the anxiety and stress of the ongoing pandemic, U.S. consumers have been purchasing at-home remedies to relieve their stress. Sales of self-help books, candles, and massaging appliances have all grown by double-digits this year, reports The NPD Group.
Retail Results Heading into Final Holiday Push Reveal Shoppers Are Still Spending, Reports NPD
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Retail sales growth during the week following Cyber Week was a welcomed reversal from this year’s Black Friday and Cyber Monday results. In the final days of the season, last minute shoppers will need to look to physical retail stores, and BOPUS and curbside pick-up options to avoid delivery delays.
“The final holiday push has arrived, but in 2020 the days seem to blur together, and it’s clear consumers still have shopping to do,” said Marshal Cohen, NPD’s chief industry advisor, retail.
Cyber Week Falls Short, But Retail Still Poised for A Merry Holiday, Reports NPD
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Cyber week sales underscore continued changes in consumer shopping behavior and transition of needs. According to NPD s retail point-of-sale data, U.S. general merchandise sales declined 3% in the week ending December 5 compared to the same week last year, but combined with the 8 prior weeks, Holiday 2020 has shown 2% year-over-year dollar sales growth.1
“The consumer and retail have adapted to the COVID-19 imposed lifestyle, and spending behavior so far this holiday shopping season reflects that,” said Marshal Cohen, NPD’s chief industry advisor, retail. PORT WASHINGTON, N.Y. (PRWEB)