CHICAGO, Dec. 19, 2024 (GLOBE NEWSWIRE) -- CHICAGO — Dec. 19, 2024 — U.S. consumers flocked to retailers online and in stores during the weeks of Black Friday and Cyber Monday to purchase technology products. According to the latest retail sales data from Circana™, total U.S. consumer technology spending grew 3.5% during the two weeks ending December 7, 2024, compared to the same two promotional weeks a year ago. After eight straight quarters of declining consumer electronics revenues following the pandemic boom, Circana is expecting growth this holiday season, and early results are positive.
“Deals and doorbuster specials are a big part of why tech products are always among the hottest items for giving and self-gifting during the holiday shopping season, and consumers are responding to this year’s promotions,” said Paul Gagnon, vice president and technology industry advisor, Circana. “Even with the consumer’s continued focus on value, spending was up sharply during Black Friday and Cyber Monday for computers, tablets and cameras.”
Spending growth was strong for many categories — with a focus on IT-related spending — but not all products had positive Black Friday performance. TV sales revenue was down 3% compared to last year, and sound bar sales fell 15%. While spending was up overall, the priority shifted to products with the best discounts and more significant recent new product introductions or innovations.
Consumer Technology Black Friday and Cyber Monday Weeks Highlights:
- Computers and Tablets. Notebook computer sales grew 9% from a year ago, and desktop computers rose 7%, despite relatively mild average selling price erosion overall. A shift away from gaming and toward more productivity-focused models, including AI PCs, signaled a potential long-awaited upgrade cycle beginning for computers purchased during the pandemic. Similarly, tablet sales grew 13%, even after six straight months of double-digit growth.
- Ultra-Large Screen Size TVs. While overall TV dollars were down compared to last year on the combined weeks of Black Friday and Cyber Monday, unit sales of TVs larger than 75 inches were up 20% this year, and OLED TV sales grew 12%, proving not all TV buyers were looking for the lowest-priced sets.
- Wearable Devices. VR headsets and AR glasses were a hugely popular gift item last holiday season, and this year is no different, with combined Black Friday and Cyber Week sales growing 17% vs. last year. Fitness trackers have also been extremely popular this year, more than doubling sales season-to-date compared to last year, especially around smart rings.
- Digital Cameras. Camera sales have been strong in 2024 on the back of a social-media-driven renaissance and digital creator economy. Camcorder sales, which include sales of action cameras, rose 28%, and mirrorless detachable lens cameras grew 2%.
- Headphones. While wireless headphones were once again one of the most popular tech products purchased during Black Friday, the hottest category continues to be the on/around ear wireless headband headphones, which grew 28% year-over-year for the two-week period.
“These results from the peak promotion weeks signal a strong start to the holiday shopping season for tech, but there are still a few more core shopping weeks to watch before the year closes,” added Gagnon. “As the full sales numbers emerge for the rest of the holiday season, the same emphasis on value and innovation will be the key to maximizing the abbreviated lead-up to Super Saturday.”
Circana’s Future of™ is a series of industry-specific forecasts and insights that incorporate Circana’s data assets, deep industry advisor expertise, macroeconomic inputs, superior technology, and advanced analytic modeling techniques.
Future of Technology forecasts and insights are based on forecasted sales of technology products captured in Circana’s Retail Tracking Service point-of-sale data.
About Circana
Circana is a leading advisor on the complexity of consumer behavior. Through superior technology, advanced analytics, cross-industry data, and deep expertise, we provide clarity that helps almost 7,000 of the world’s leading brands and retailers take action and unlock business growth. We understand more about the complete consumer, the complete store, and the complete wallet so our clients can go beyond the data to apply insights, ignite innovation, meet consumer demand, and outpace the competition. Learn more at circana.com.
