The US consumers are spending liberally on the electronics goods as a result of which, the electronic retail sales have grown significantly in the last year (2007).

People in the US are increasingly buying consumer electronics in the holiday season despite retardation in the retail sales. The growth in consumer electronic field is double as compared to overall growth in the retail industry, as reported by Associated Press .

The NPD Group (a leading global consumer and retail market research information provider) has given figures, which said that between November 18, 2007 and December 9, 2007, US consumers expended $4.5 Billion on electronics goods. Nevertheless, the Consumers Electronics Association (CEA) said that the growth in retail electronics sales was not as good as it was expected and was quite low, just 7% as compared to 16% in 2006. The demand of electronic goods was approximately double the 4% growth witnessed in general retail sales in 2007.

Global Positioning System (GPS) emerged as the fastest-growing segment, trailed by digital pictures frames. Apart from these, people also shopped for laptops and digital SLR cameras excessively; however, there was slight decline in the sales of digicams and MP3 players. Besides, the people were more inclined to buy LCD TVs instead of Plasma TVs though Plasma TVs are available in bigger sizes in the market.

The figures and statistics confirm that US consumers would like to spend on electronics goods, which is indicating positive movement in their sales.

Tim Herbert, Senior Director of Market Research at CEA said that people in the US are reducing their expenses on travel and household applications like decorations and other purchases instead of cutting expenses on electronics.

In the US, consumer electronics sales are continuously mounting. The industry experts have given the credit for this growth to electronics industry which is coming up with innovative and technologically advanced products that consumers like to buy. With the inventions taking place in digital media, consumer electronics manufacturers are benefited a lot, as people prefer to buy the technologically advanced products.

According to a market research report by RNCOS , “Consumer Electronics Market Worldwide (2007)”, the consumer electronics market has grown globally and the US market has experienced significant growth in 2006. Earning US$ 26 Billion in revenues in 2007, it is likely to grow with same pace ion coming years as well.

Related Market Research Reports:
Chinese Consumer Electronics Market till 2011
Consumer Electronics Market in Brazil (2007-2011)
Global IPTV: Market Analysis and Forecast to 2011