New York City, The average adult spends $1,200 per year on consumer electronics (CE), according to a recent study by the Consumer Electronics Association. The study found that digital video recorders, MP3 players and digital cameras were among the biggest growth sectors. The number of households owning a DVR system grew eight percentage points since 2005 to 25%, MP3 ownership rose seven percentage points to 32% and digital-camera ownership rose to 62% of all U.S. households.
The study also found significant growth in HDTV ownership, which is now found in a quarter of U.S. homes. DVD players have reached 84% household penetration and have surpassed VCRs, partially because of the availability of portable DVD players, the study found.
Children and teens continue to have a growing influence on the CE market. The study found that teens spend $350 each year, about half of their total annual discretionary income, on consumer-electronics products. In addition, adults with children and teens spend up to $500 more on CE purchases than the national average.