CES 2014 LinkedIn Insights
Below are just a few of the key insights from our CES presentation:
Affluents ($100K+ HHI) remain early adopters and heavy users of technology: 41% of Affluents personally own a tablet and nearly two-thirds own a smartphone - these adoption rates have risen dramatically over the past two years, and are well ahead of the general population. Usage is growing strongly as well, and 74% now describe their lives as "intertwined with technology."
Affluents are heavy spenders who are critically important to the CE market: Just 20% of households, Affluents hold 69% of U.S. net worth, and spend 40-45% of all U.S. dollars spent on consumer electronics. Affluent CE spending rose 15-25% in the past year alone.
Affluents don't skimp when making CE purchases: More than one-third of Affluents, and 59% of Ultra Affluents ($250K+ HHI) typically buy high-end offerings when purchasing consumer electronics (#1 across a dozen measured categories)
Top CE purchase considerations are feature-focused: The most widely cited purchase consideration is "has the features I want," and the top consideration when evaluating a possible CE brand switch is having "better features offered from another brand." Considerations such as price and brand remain important, but are cited far less frequently.
CE purchases are heavily researched: 86% do "a fair amount" or "great deal" of research before CE purchases, and 57% research CE purchases for a few weeks or more.
Word-of-mouth and influentials shape many CE purchase decisions: Nearly three-fourths consider positive reviews a key CE purchase consideration, and nearly half cite the importance of opinions from friends, family and co-workers.
If you and your team would like to learn more about affluent technology use and/or their path to purchasing products, we would be pleased to arrange an in-person presentation. Get in touch today!
