Welcome!

News Feed Item

Millennials Heavily Influence Electronics Purchases, CEA Study Finds

Millennials – a generation of consumers currently between the ages of 13 and 31– are not only heavy consumers of electronics products, they also exert considerable influence on others when it comes to buying consumer electronics (CE) devices, according to a new study released today by the Consumer Electronics Association (CEA)®. The study, Millennials: The New Face of Retail, examined how Millennials learn and research CE devices, where and why they purchase CE and their influence on others in purchasing CE.

The study defines Millennials as anyone born between 1981 and 1999, with Youth Millennials born between 1995 and 1999 (ages 13-17) and Adult Millennials born between 1981 and 1994 (ages 18-31). The study compared Millennials to three other generations: the Silent Generation (1928-1945), Baby Boomers (1946-1964) and Generation X (1965-1980).

Among the generations, Millennials have the highest intent to purchase CE devices, with 75 percent planning to purchase CE products in the next 12 months, compared to 67 percent among Generation X, 55 percent among Baby Boomers and 49 percent among the Silent Generation. While income constrained Youth Millennials do not spend as much money on CE devices as Adult Millennials, they do heavily influence their friends’ and family members’ CE purchases, thereby influencing overall purchasing trends. Among Youth Millennials, more than half (60 percent) say they have some influence on their parents’ CE purchases, and 41 percent give advice to friends and/or parents on the CE products they should purchase. Among Adult Millennials, 33 percent give advice to friends and/or parents on the CE products they should purchase.

Overall, Millennials not only influence what CE devices and accessories others purchase but where others buy CE products. Of the generation, 32 percent of Youth Millennials and 28 percent of Adult Millennials say they give advice to friends and/or family on where to shop for CE devices. Despite their heavy use of social media and the Internet, Millennials still rely on brick-and-mortar retail stores for CE purchases. Two in five Millennials (42 percent) usually visit a store prior to purchasing a CE product and half of Millennials believe it is important to touch and feel a product (55 percent) or play with or use a product (49 percent) before purchasing. When Millennials visit a retail store prior to purchasing their CE device, they usually interact with a physical product in some capacity, either by looking at the product (51 percent), playing with or using the product (52 percent), looking at the product packaging (38 percent) or getting a demonstration (30 percent).

“The Millennial generation is a crucial audience for electronics manufacturers and retailers. Millennials not only seek electronics at a high rate for themselves, they also exert a great deal of influence on the CE purchases of others in their circles,” said Rhonda Daniel, manager of market research for CEA. “While some consumers within the Millennial generation, specifically the Youth Millennials, do not have the disposable income of their older cohorts, we expect they will continue to invest in CE products and services as they age and their levels of income rise.”

While the Internet is the most commonly used resource to learn about CE products across all generations, the study found that Millennials rely just as much on their friends to learn about CE devices as they do the Internet. When researching products, Millennials are more likely than other generations to ask people they know about products before purchasing. Millennials are also more than twice as likely as non-Millennials to use blogs (12 percent versus five percent) and social networking sites (18 percent versus seven percent) to learn about the latest CE products.

The Millennials: the New Face of Retail study was conducted in September 2012. It was designed and formulated by CEA Market Research, the most comprehensive source of sales data, forecasts, consumer research and historical trends for the consumer electronics industry. Please cite any information to the Consumer Electronics Association (CEA)®. The complete report is available free to CEA member companies at members.CE.org. Non-members may purchase the study for $999 at myCEA.CE.org. *All generations are defined by the age at which the respondents were when the survey was fielded in late 2012.

About CEA:

The Consumer Electronics Association (CEA) is the preeminent trade association promoting growth in the $209 billion U.S. consumer electronics industry. More than 2,000 companies enjoy the benefits of CEA membership, including legislative advocacy, market research, technical training and education, industry promotion, standards development and the fostering of business and strategic relationships. CEA also owns and produces the International CES – The Global Stage for Innovation. All profits from CES are reinvested into CEA’s industry services. Find CEA online at www.CE.org, www.DeclareInnovation.com and through social media: https://www.facebook.com/#!/CEAfeed, http://twitter.com/ceafeed, http://blog.ce.org/.

UPCOMING EVENTS

  • Economic Retreat
    March 8-10, 2013, Snowmass, CO
  • CES on the Hill
    April 16, 2013, Washington, D.C.
  • Technology & Standards Spring Forum
    May 20-24, 2013, Denver, CO
  • CE Week
    June 24-28, 2013, New York, NY
  • 2013 CEA Industry Forum
    October 20-23, 2013, Los Angeles, CA

More Stories By Business Wire

Copyright © 2009 Business Wire. All rights reserved. Republication or redistribution of Business Wire content is expressly prohibited without the prior written consent of Business Wire. Business Wire shall not be liable for any errors or delays in the content, or for any actions taken in reliance thereon.

Latest Stories
A valuable conference experience generates new contacts, sales leads, potential strategic partners and potential investors; helps gather competitive intelligence and even provides inspiration for new products and services. Conference Guru works with conference organizers to pass great deals to great conferences, helping you discover new conferences and increase your return on investment.
Using new techniques of information modeling, indexing, and processing, new cloud-based systems can support cloud-based workloads previously not possible for high-throughput insurance, banking, and case-based applications. In his session at 18th Cloud Expo, John Newton, CTO, Founder and Chairman of Alfresco, described how to scale cloud-based content management repositories to store, manage, and retrieve billions of documents and related information with fast and linear scalability. He addresse...
Poor data quality and analytics drive down business value. In fact, Gartner estimated that the average financial impact of poor data quality on organizations is $9.7 million per year. But bad data is much more than a cost center. By eroding trust in information, analytics and the business decisions based on these, it is a serious impediment to digital transformation.
With more than 30 Kubernetes solutions in the marketplace, it's tempting to think Kubernetes and the vendor ecosystem has solved the problem of operationalizing containers at scale or of automatically managing the elasticity of the underlying infrastructure that these solutions need to be truly scalable. Far from it. There are at least six major pain points that companies experience when they try to deploy and run Kubernetes in their complex environments. In this presentation, the speaker will d...
Containers and Kubernetes allow for code portability across on-premise VMs, bare metal, or multiple cloud provider environments. Yet, despite this portability promise, developers may include configuration and application definitions that constrain or even eliminate application portability. In this session we'll describe best practices for "configuration as code" in a Kubernetes environment. We will demonstrate how a properly constructed containerized app can be deployed to both Amazon and Azure ...
We are seeing a major migration of enterprises applications to the cloud. As cloud and business use of real time applications accelerate, legacy networks are no longer able to architecturally support cloud adoption and deliver the performance and security required by highly distributed enterprises. These outdated solutions have become more costly and complicated to implement, install, manage, and maintain.SD-WAN offers unlimited capabilities for accessing the benefits of the cloud and Internet. ...
Business professionals no longer wonder if they'll migrate to the cloud; it's now a matter of when. The cloud environment has proved to be a major force in transitioning to an agile business model that enables quick decisions and fast implementation that solidify customer relationships. And when the cloud is combined with the power of cognitive computing, it drives innovation and transformation that achieves astounding competitive advantage.
SYS-CON Events announced today that Silicon India has been named “Media Sponsor” of SYS-CON's 21st International Cloud Expo, which will take place on Oct 31 – Nov 2, 2017, at the Santa Clara Convention Center in Santa Clara, CA. Published in Silicon Valley, Silicon India magazine is the premiere platform for CIOs to discuss their innovative enterprise solutions and allows IT vendors to learn about new solutions that can help grow their business.
DXWorldEXPO LLC announced today that "IoT Now" was named media sponsor of CloudEXPO | DXWorldEXPO 2018 New York, which will take place on November 11-13, 2018 in New York City, NY. IoT Now explores the evolving opportunities and challenges facing CSPs, and it passes on some lessons learned from those who have taken the first steps in next-gen IoT services.
In this presentation, you will learn first hand what works and what doesn't while architecting and deploying OpenStack. Some of the topics will include:- best practices for creating repeatable deployments of OpenStack- multi-site considerations- how to customize OpenStack to integrate with your existing systems and security best practices.
SYS-CON Events announced today that CrowdReviews.com has been named “Media Sponsor” of SYS-CON's 22nd International Cloud Expo, which will take place on June 5–7, 2018, at the Javits Center in New York City, NY. CrowdReviews.com is a transparent online platform for determining which products and services are the best based on the opinion of the crowd. The crowd consists of Internet users that have experienced products and services first-hand and have an interest in letting other potential buye...
You want to start your DevOps journey but where do you begin? Do you say DevOps loudly 5 times while looking in the mirror and it suddenly appears? Do you hire someone? Do you upskill your existing team? Here are some tips to help support your DevOps transformation. Conor Delanbanque has been involved with building & scaling teams in the DevOps space globally. He is the Head of DevOps Practice at MThree Consulting, a global technology consultancy. Conor founded the Future of DevOps Thought Leade...
Everyone wants the rainbow - reduced IT costs, scalability, continuity, flexibility, manageability, and innovation. But in order to get to that collaboration rainbow, you need the cloud! In this presentation, we'll cover three areas: First - the rainbow of benefits from cloud collaboration. There are many different reasons why more and more companies and institutions are moving to the cloud. Benefits include: cost savings (reducing on-prem infrastructure, reducing data center foot print, redu...
Jo Peterson is VP of Cloud Services for Clarify360, a boutique sourcing and benchmarking consultancy focused on transforming technology into business advantage. Clarify360 provides custom, end-to-end solutions from a portfolio of more than 170 suppliers globally. As an engineer, Jo sources net new technology footprints, and is an expert at optimizing and benchmarking existing environments focusing on Cloud Enablement and Optimization. She and her team work with clients on Cloud Discovery, Cloud ...
Founded in 2000, Chetu Inc. is a global provider of customized software development solutions and IT staff augmentation services for software technology providers. By providing clients with unparalleled niche technology expertise and industry experience, Chetu has become the premiere long-term, back-end software development partner for start-ups, SMBs, and Fortune 500 companies. Chetu is headquartered in Plantation, Florida, with thirteen offices throughout the U.S. and abroad.