Consumer Electronics Were The Big Holiday Hit - InformationWeek

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Consumer Electronics Were The Big Holiday Hit

Consumer technology isn't just for the tech geek anymore.

Consumer electronics were the biggest sellers of the holiday shopping season, accounting for 42% of overall sales, a market research firm says.

Gift buyers, however, spent at a slower pace than in 2005. Retail sales from the week of Black Friday, the day after Thanksgiving, through the week ending Dec. 23 grew 6.5% from the same period the year before to $8.75 billion, the NPD Group said Tuesday. In 2005, sales were up 10% from 2004.

The hottest items during the 2006 holiday season were led by LCD TVs, followed by digital still cameras, notebook computers, MP3 players, and plasma TVs, respectively. Spending on LCD TVs soared by 109% over 2005 to $924 million.

"Consumer technology isn't just for the tech geek anymore, it's marketed for everyone from grandparents to their grandchildren," NPD analyst Stephen Baker said in a statement. "Every year, we see new products enter the market, making it fresh and desirable for consumers to keep spending."

Nevertheless, overall revenue growth slowed due to several factors, including price reductions on high-demand items, such as flat-panel TVs, NPD said. In addition, Christmas Eve fell on a Sunday, which means revenue totals from that day didn't make it into the last shopping week's final numbers.

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