Computers, portable audio, and TVs are expected to contribute over 70% of gains for the year.
CHICAGO, Jan. 07, 2025 (GLOBE NEWSWIRE) — CHICAGO, Jan. 7, 2025 — U.S. consumer technology sales revenue is forecast to grow 1.6% in 2025, representing an additional $1.8 billion, according to the latest Future of Technology report from Circana™. While there are positive signals from a better-than-expected 2024 holiday shopping season, those signals followed eight consecutive quarters of declines for the consumer technology industry, and headwinds remain, which will impact overall demand. Initial results indicate that 2024 dollar sales will end 1.3% below 2023, marking a significant slowing of sales declines in the past two years.
“Spending declines in consumer technology are moderating, even as consumers continue to shift a greater share of their wallet to spending on core needs like food, shelter and transportation,” said Paul Gagnon, vice president and technology industry advisor for Circana. “At the same time, consumers have proven their willingness to spend on affordable luxuries that bring joy, while still being thoughtful about price.”
Computers, portable audio and televisions are expected to contribute over 70% of the sector’s gains this year. As previously forecast, PC sales will be the strongest driver of overall growth in 2025, fueled by a post-pandemic computer refresh wave that will continue into 2027 with the assistance of AI PCs and updated operating systems. Recent positive TV performance, driven by refresh behavior, is expected to continue in 2025. The trend toward purchasing larger screen sizes will help to boost TV dollar sales despite pricing headwinds resulting from consumer focus on value price points. Pockets of recent growth are expected to continue in several categories, like digital cameras appealing to young creators, tablet upgrades including AI capabilities at a higher average price, and new headphone introductions breathing life into the category. Digital health will also continue to be a focal point for consumers, with growth expected in health and fitness trackers.
“Consumers remain very price sensitive — something that will be further amplified by uncertainty surrounding potential trade and economic disruptions,” added Gagnon. “The counterpoint in the consumer’s search for value is their need to keep technology products current, and their desire for innovation, albeit at more affordable price points.”
Circana’s Future of™ is a series of industry-specific forecasts and insights that incorporate Circana’s data assets, deep industry advisor expertise, macroeconomic inputs, superior technology and advanced analytic modeling techniques.
About Circana
Circana is a leading advisor on the complexity of consumer behavior. Through superior technology, advanced analytics, cross-industry data, and deep expertise, we provide clarity that helps almost 7,000 of the world’s leading brands and retailers take action and unlock business growth. We understand more about the complete consumer, the complete store, and the complete wallet so our clients can go beyond the data to apply insights, ignite innovation, meet consumer demand, and outpace the competition. Learn more at circana.com.
CONTACT: Janine Marshall Circana 516-625-2356 janine.marshall@circana.com
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