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CEA: Doorbusters to Drive Holiday Sales
CEA industry insiders aren't bullish on Q4. Nearly half of them believe they'll need bigger deals to generate store traffic. Will CE pros slash prices too?
CEA polled its industry insiders about holiday sales, and almost half of them weren’t bullish on Q4. They think deals would be “better” this season—better for consumers, that is.
10.29.2009 — Holiday sales this year will be "deal-driven," according to research from the Consumer Electronics Association (CEA).
More so than previous years, retailers will drive store traffic largely through doorbuster deals, and consumers will spend more time than ever looking for bargains.
Among CEA's industry insiders, 48 percent think that deals this holiday season will be bigger than last year.
As for consumers, more than two-thirds of them will spend more time looking for good deals this season (see chart below).Here's some proof:
CEA partner Channel Force asked random shoppers what they were doing at the store. More than any other reason, they were taking advantage of a sale or promotion. Reason No. 2: comparison shopping across different stores.
The biggest Q4 concern among industry insiders is low store traffic, with 62 percent of CEA's "insiders" citing that challenge. And that, presumably, is why we'll see more deals than ever during the holiday season.
"There is a willingness of the channel to give up margin to drive store traffic," said CEA analyst Steve Koenig during the organization's recent Industry Forum.
About 20 percent of consumers plan to spend more on gifts this year compared to last year. That's slightly better than the 2008 survey, which showed 18 percent of consumers would buy more than in the previous year. CEA notes that the slight jump does not necessarily represent pent-up demand after a lean year.
"This holiday is going to be dominated by deals, not pent-up demand," said CEA chief economist Shawn DuBravac during the forum. "Channel manufacturers really have to incent to get consumers to buy."
Both Sears and OfficeMax have already leaked their Black Friday Deals.
The lesson for specialty A/V dealers? You may need to grit your teeth and offer some deal busters of your own to get a chunk of the holiday spending.
Consumers plan to fritter away their time shopping for deals this holiday season. Source: Channel Force In-Store Report
Surveyed in the store, most shoppers said they were there for a specific deal. Source: Channel Force In-Store Report
RELATED: Is H1N1 Good for Integrators?
More so than previous years, retailers will drive store traffic largely through doorbuster deals, and consumers will spend more time than ever looking for bargains.
Among CEA's industry insiders, 48 percent think that deals this holiday season will be bigger than last year.
As for consumers, more than two-thirds of them will spend more time looking for good deals this season (see chart below).Here's some proof:
CEA partner Channel Force asked random shoppers what they were doing at the store. More than any other reason, they were taking advantage of a sale or promotion. Reason No. 2: comparison shopping across different stores.
The biggest Q4 concern among industry insiders is low store traffic, with 62 percent of CEA's "insiders" citing that challenge. And that, presumably, is why we'll see more deals than ever during the holiday season.
"There is a willingness of the channel to give up margin to drive store traffic," said CEA analyst Steve Koenig during the organization's recent Industry Forum.
About 20 percent of consumers plan to spend more on gifts this year compared to last year. That's slightly better than the 2008 survey, which showed 18 percent of consumers would buy more than in the previous year. CEA notes that the slight jump does not necessarily represent pent-up demand after a lean year.
"This holiday is going to be dominated by deals, not pent-up demand," said CEA chief economist Shawn DuBravac during the forum. "Channel manufacturers really have to incent to get consumers to buy."
Both Sears and OfficeMax have already leaked their Black Friday Deals.
The lesson for specialty A/V dealers? You may need to grit your teeth and offer some deal busters of your own to get a chunk of the holiday spending.
Consumers plan to fritter away their time shopping for deals this holiday season. Source: Channel Force In-Store Report
Surveyed in the store, most shoppers said they were there for a specific deal. Source: Channel Force In-Store Report
RELATED: Is H1N1 Good for Integrators?
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Julie Jacobson, Editor-at-large, CE Pro
As a co-founder of EH Publishing in 1994, Julie has edited and contributed to all of the company's publications at one time or another. An authority on home automation, networking, integration, digital convergence and the CE pro channel, Julie speaks often about these subjects at industry events. She graduated with a B.A. in Economics from the University of Michigan, and received an MBA from the University of Texas at Austin. Julie is a washed-up Ultimate Frisbee player.
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