Tech Will Topple Records This Holiday Season

christmas-1015348_960_720More U.S. consumers than ever – 68 percent, or roughly 170 million people – plan to buy technology gifts this holiday season.

That’s a six percent increase over last year, according to the latest annual research from the Consumer Technology Association (CTA).

This week, MMW was made privy to a summary of the 23rd Annual Consumer Technology Holiday Purchase Patterns Study.

The study in question illustrates that emerging technologies including drones and wearables “will pervade holiday wish lists this year.”

According to CTA’s holiday retail forecast, spending on tech will increase 3.1 percent to reach $36.05 billion during the 2016 holiday season. The forecast also shows overall retail sales in November and December, excluding gas and restaurant sales, are expected to increase a strong 3.8 percent to $824.8 billion year over year.

All told, CTA estimates total online holiday sales will grow by 16.4 percent to $84.2 billion, while online sales through mobile devices like smartphones and tablets will grow by 45.2 percent to $20.1 billion.

“The 2016 holiday season looks to be the biggest on record for the tech sector, thanks to fresh and innovative products on the market such as wearable tech, VR headsets, drones and digital assistant devices,” said Shawn DuBravac, chief economist for the CTA. “Our research also finds that most Americans are now using tech devices to help them research and buy those tech gifts.”