The Consumer Electronics Association (CEA) says that consumer spending for electronics goods will be half of what it was last year, according to a New York Times article. The organization says it found a drop in the percentage of consumers expressing an intention to buy video games, cameras, music players and laptops.
The association said it found that consumers expected to spend an average of $1,437 during the holidays on items including gifts, food and home purchases. That figure is down 14 percent from last year’s $1,671.
MasterCard said this month that consumers spent 13.8 percent less on electronics and home appliances in September than they did in the same month a year ago.