US downturn to hit electronics sales?

Life

The economic downturn in the US looks set to hit the consumer electronics sector hard, according to a recent survey of consumer buying intentions.

Consultancy firm ChangeWave said that its latest study of over 4,000 US consumers shows the biggest dip since it began measuring spending trends in 2002. A third of respondents intend to spend less on electronics in the next 90 days, compared with 10% who said that they will spend more.

LCD TVs, digital cameras, mobile phones and iPods are likely to be the worst hit, according to the survey.
However, two items seem to be bucking the trend. As many as 8% of respondents intend to buy a Nintendo Wii, and 9% intend to buy a Blu-ray high-definition DVD player.

There are also differences between individual retail chains when measuring intention to purchase. Best Buy, Circuit City, Amazon, e-Bay and Apple are looking at a downturn, while Wal-Mart is looking at a healthy 12% lift.

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