SYS-CON MEDIA Authors: Sean Houghton, Glenn Rossman, Ignacio M. Llorente, Xenia von Wedel, Peter Silva

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
Mobile commerce traffic is surpassing desktop, yet less than 20% of sales in the U.S. are mobile commerce sales. In his session at 15th Cloud Expo, Dan Franklin, Segment Manager, Commerce, at Verizon Digital Media Services, defined mobile devices and discussed how next generation means simplification. It means taking your digital content and turning it into instantly gratifying experiences.
“DevOps is really about the business. The business is under pressure today, competitively in the marketplace to respond to the expectations of the customer. The business is driving IT and the problem is that IT isn't responding fast enough," explained Mark Levy, Senior Product Marketing Manager at Serena Software, in this SYS-CON.tv interview at DevOps Summit, held Nov 4–6, 2014, at the Santa Clara Convention Center in Santa Clara, CA.
The Internet of Things is a misnomer. That implies that everything is on the Internet, and that simply should not be - especially for things that are blurring the line between medical devices that stimulate like a pacemaker and quantified self-sensors like a pedometer or pulse tracker. The mesh of things that we manage must be segmented into zones of trust for sensing data, transmitting data, receiving command and control administrative changes, and peer-to-peer mesh messaging. In his session a...
"Ulunsoft is a start-up that focuses on how enterprises build cloud-based IT infrastructure for business," explained Haibo Zhu, President of Ulunsoft Corp, in this SYS-CON.tv interview at Cloud Expo, held Nov 4–6, 2014, at the Santa Clara Convention Center in Santa Clara, CA.
"At our booth we are showing how to provide trust in the Internet of Things. Trust is where everything starts to become secure and trustworthy. Now with the scaling of the Internet of Things it becomes an interesting question – I've heard numbers from 200 billion devices next year up to a trillion in the next 10 to 15 years," explained Johannes Lintzen, Vice President of Sales at Utimaco, in this SYS-CON.tv interview at @ThingsExpo, held Nov 4–6, 2014, at the Santa Clara Convention Center in San...
As enterprises engage with Big Data technologies to develop applications needed to meet operational demands, new computation fabrics are continually being introduced. To leverage these new innovations, organizations are sacrificing market opportunities to gain expertise in learning new systems. In his session at Big Data Expo, Supreet Oberoi, Vice President of Field Engineering at Concurrent, Inc., discussed how to leverage existing infrastructure and investments and future-proof them against e...
“The year of the cloud – we have no idea when it's really happening but we think it's happening now. For those technology providers like Zentera that are helping enterprises move to the cloud - it's been fun to watch," noted Mike Loftus, VP Product Management and Marketing at Zentera Systems, in this SYS-CON.tv interview at Cloud Expo, held Nov 4–6, 2014, at the Santa Clara Convention Center in Santa Clara, CA.
"For over 25 years we have been working with a lot of enterprise customers and we have seen how companies create applications. And now that we have moved to cloud computing, mobile, social and the Internet of Things, we see that the market needs a new way of creating applications," stated Jesse Shiah, CEO, President and Co-Founder of AgilePoint Inc., in this SYS-CON.tv interview at 15th Cloud Expo, held Nov 4–6, 2014, at the Santa Clara Convention Center in Santa Clara, CA.
"Desktop as a Service is emerging as a very big trend. One of the big influencers of this – for Esri – is that we have a large user base that uses virtualization and they are looking at Desktop as a Service right now," explained John Meza, Product Engineer at Esri, in this SYS-CON.tv interview at Cloud Expo, held Nov 4–6, 2014, at the Santa Clara Convention Center in Santa Clara, CA.
SYS-CON Events announced today that Gridstore™, the leader in hyper-converged infrastructure purpose-built to optimize Microsoft workloads, will exhibit at SYS-CON's 16th International Cloud Expo®, which will take place on June 9-11, 2015, at the Javits Center in New York City, NY. Gridstore™ is the leader in hyper-converged infrastructure purpose-built for Microsoft workloads and designed to accelerate applications in virtualized environments. Gridstore’s hyper-converged infrastructure is the ...
"People are a lot more knowledgeable about APIs now. There are two types of people who work with APIs - IT people who want to use APIs for something internal and the product managers who want to do something outside APIs for people to connect to them," explained Roberto Medrano, Executive Vice President at SOA Software, in this SYS-CON.tv interview at Cloud Expo, held Nov 4–6, 2014, at the Santa Clara Convention Center in Santa Clara, CA.
"Application monitoring and intelligence can smooth the path in a DevOps environment. In a DevOps environment you see constant change. If you are trying to monitor things in a constantly changing environment, you're going to spend a lot of your job fixing your monitoring," explained Todd Rader, Solutions Architect at AppDynamics, in this SYS-CON.tv interview at DevOps Summit, held Nov 4–6, 2014, at the Santa Clara Convention Center in Santa Clara, CA.
AppDynamics, the application intelligence leader for software-defined businesses, announced the general availability of the AppDynamics Fall '14 Release. Serving the combined needs of IT and business teams across the enterprise, the latest release provides a comprehensive view across all aspects of digital performance in ultra large scale deployments. AppDynamics delivers Application Intelligence by building out advanced capabilities across the key areas of analytics, unified monitoring and D...
In addition, Tesora adds the popular enterprise distribution from Mirantis to the Tesora OpenStack Database Certification Program ensuring compatibility with both NoSQL and SQL database management systems on Trove and eliminating the headache of enterprises having to test integration on their own. "We're providing Mirantis customers with the most production-ready OpenStack Trove implementation, saving the work and time necessary to ensure compatibility," said Ken Rugg, CEO of Tesora. "Working...
Docker containerization is gaining rapid popularity with Software-as-a-Service (SaaS) developers because of clear benefits such as simplified and continuous app delivery. Enterprise developers also want to leverage Docker for easy provisioning and efficient testing, but IT has unique needs that Docker does not solve out-of-the-box, such as security and access control, supporting heterogeneous infrastructure, apps and app stacks, backup and recovery, visibility and monitoring, and integration. Ho...