Led by video products and the popularity of HDTVs, U.S. household spending on consumer electronics rose by $151 in the past 12 months to $1380, according to a new report from the Consumer Electronics Association.
The report, the "12th Annual Household CE Ownership and Market Potential Study," also showed that individual consumer spending has increased by 10 percent from the previous 12 months.
The survey revealed 65 percent of U.S. homes now own at least one HDTV, up 13 percentage points from the previous year. That increase was enough to make high-definition televisions the top driver for growth in the consumer electronics industry over the past 12 months.
The study also showed that consumers today are buying HDTVs as secondary sets with the average household now owning 1.8 HDTVs compared to 1.5 in 2009. Consumers also cite HDTVs as the top electronics item they wish to buy, the study said. In the next 12 months, 23 percent of households plan to buy an HDTV.
"A drop in price, widespread availability of HD content and successful completion of the digital television transition last year have all led to an increased ownership rate for HDTVs," said Brian Markwalter, CEA's VP of research and standards.