|By Business Wire||
|January 31, 2013 01:16 PM EST||
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.
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/.
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
June 24-28, 2013, New York, NY
2013 CEA Industry Forum
October 20-23, 2013, Los Angeles, CA
You deployed your app with the Bluemix PaaS and it's gaining some serious traction, so it's time to make some tweaks. Did you design your application in a way that it can scale in the cloud? Were you even thinking about the cloud when you built the app? If not, chances are your app is going to break. Check out this webcast to learn various techniques for designing applications that will scale successfully in Bluemix, for the confidence you need to take your apps to the next level and beyond.
May. 3, 2016 12:15 PM EDT Reads: 1,574
SYS-CON Events announced today that Peak 10, Inc., a national IT infrastructure and cloud services provider, will exhibit at SYS-CON's 18th International Cloud Expo®, which will take place on June 7-9, 2016, at the Javits Center in New York City, NY. Peak 10 provides reliable, tailored data center and network services, cloud and managed services. Its solutions are designed to scale and adapt to customers’ changing business needs, enabling them to lower costs, improve performance and focus inter...
May. 3, 2016 12:00 PM EDT Reads: 1,339
Artificial Intelligence has the potential to massively disrupt IoT. In his session at 18th Cloud Expo, AJ Abdallat, CEO of Beyond AI, will discuss what the five main drivers are in Artificial Intelligence that could shape the future of the Internet of Things. AJ Abdallat is CEO of Beyond AI. He has over 20 years of management experience in the fields of artificial intelligence, sensors, instruments, devices and software for telecommunications, life sciences, environmental monitoring, process...
May. 3, 2016 11:30 AM EDT Reads: 1,091
The increasing popularity of the Internet of Things necessitates that our physical and cognitive relationship with wearable technology will change rapidly in the near future. This advent means logging has become a thing of the past. Before, it was on us to track our own data, but now that data is automatically available. What does this mean for mHealth and the "connected" body? In her session at @ThingsExpo, Lisa Calkins, CEO and co-founder of Amadeus Consulting, will discuss the impact of wea...
May. 3, 2016 11:30 AM EDT Reads: 876
There is an ever-growing explosion of new devices that are connected to the Internet using “cloud” solutions. This rapid growth is creating a massive new demand for efficient access to data. And it’s not just about connecting to that data anymore. This new demand is bringing new issues and challenges and it is important for companies to scale for the coming growth. And with that scaling comes the need for greater security, gathering and data analysis, storage, connectivity and, of course, the...
May. 3, 2016 11:15 AM EDT Reads: 1,016
We’ve worked with dozens of early adopters across numerous industries and will debunk common misperceptions, which starts with understanding that many of the connected products we’ll use over the next 5 years are already products, they’re just not yet connected. With an IoT product, time-in-market provides much more essential feedback than ever before. Innovation comes from what you do with the data that the connected product provides in order to enhance the customer experience and optimize busi...
May. 3, 2016 11:00 AM EDT Reads: 1,138
Unless you don’t use the internet, don’t live in California, or haven’t been paying attention to the recent news… you should be aware that self-driving cars are on their way to becoming a reality. I have seen them – they are real. If you believe in the future reality of self-driving cars, then continue reading on. If you don’t believe in the future possibilities, then I am not sure what to do to convince you other than discuss the very real changes that will roll out with the consumer producti...
May. 3, 2016 11:00 AM EDT Reads: 737
Much of the value of DevOps comes from a (renewed) focus on measurement, sharing, and continuous feedback loops. In increasingly complex DevOps workflows and environments, and especially in larger, regulated, or more crystallized organizations, these core concepts become even more critical. In his session at @DevOpsSummit at 18th Cloud Expo, Andi Mann, Chief Technology Advocate at Splunk, will show how, by focusing on 'metrics that matter,' you can provide objective, transparent, and meaningfu...
May. 3, 2016 10:45 AM EDT Reads: 855
The IoTs will challenge the status quo of how IT and development organizations operate. Or will it? Certainly the fog layer of IoT requires special insights about data ontology, security and transactional integrity. But the developmental challenges are the same: People, Process and Platform. In his session at @ThingsExpo, Craig Sproule, CEO of Metavine, will demonstrate how to move beyond today's coding paradigm and share the must-have mindsets for removing complexity from the development proc...
May. 3, 2016 10:30 AM EDT Reads: 561
Increasing IoT connectivity is forcing enterprises to find elegant solutions to organize and visualize all incoming data from these connected devices with re-configurable dashboard widgets to effectively allow rapid decision-making for everything from immediate actions in tactical situations to strategic analysis and reporting. In his session at 18th Cloud Expo, Shikhir Singh, Senior Developer Relations Manager at Sencha, will discuss how to create HTML5 dashboards that interact with IoT devic...
May. 3, 2016 10:30 AM EDT Reads: 1,185
SYS-CON Events announced today that Ericsson has been named “Gold Sponsor” of SYS-CON's @ThingsExpo, which will take place on June 7-9, 2016, at the Javits Center in New York, New York. Ericsson is a world leader in the rapidly changing environment of communications technology – providing equipment, software and services to enable transformation through mobility. Some 40 percent of global mobile traffic runs through networks we have supplied. More than 1 billion subscribers around the world re...
May. 3, 2016 10:15 AM EDT Reads: 1,172
SYS-CON Events announced today that SoftLayer, an IBM Company, has been named “Gold Sponsor” of SYS-CON's 18th Cloud Expo, which will take place on June 7-9, 2016, at the Javits Center in New York, New York. SoftLayer, an IBM Company, provides cloud infrastructure as a service from a growing number of data centers and network points of presence around the world. SoftLayer’s customers range from Web startups to global enterprises.
May. 3, 2016 09:45 AM EDT Reads: 1,104
So, you bought into the current machine learning craze and went on to collect millions/billions of records from this promising new data source. Now, what do you do with them? Too often, the abundance of data quickly turns into an abundance of problems. How do you extract that "magic essence" from your data without falling into the common pitfalls? In her session at @ThingsExpo, Natalia Ponomareva, Software Engineer at Google, will provide tips on how to be successful in large scale machine lear...
May. 3, 2016 09:45 AM EDT Reads: 1,406
SYS-CON Events announced today that Enzu, a leading provider of cloud hosting solutions, will exhibit at SYS-CON's 18th International Cloud Expo®, which will take place on June 7-9, 2016, at the Javits Center in New York City, NY. Enzu’s mission is to be the leading provider of enterprise cloud solutions worldwide. Enzu enables online businesses to use its IT infrastructure to their competitive advantage. By offering a suite of proven hosting and management services, Enzu wants companies to foc...
May. 3, 2016 09:15 AM EDT Reads: 1,158
See storage differently! Storage performance problems have only gotten worse and harder to solve as applications have become largely virtualized and moved to a cloud-based infrastructure. Storage performance in a virtualized environment is not just about IOPS, it is about how well that potential performance is guaranteed to individual VMs for these apps as the number of VMs keep going up real time. In his session at 18th Cloud Expo, Dhiraj Sehgal, in product and marketing at Tintri, will discu...
May. 3, 2016 09:00 AM EDT Reads: 952