Holiday Spending Will Be Up This Year, No Thanks To Flashy Electronic Gadgets

With all the hoopla surrounding every new electronic gadget that’s announced, you’d think retailers would be gearing up for a big buying push during the holiday season this year. But although spending on holiday gifts is expected to be up, a new study says we’re not going to splash out more on tablets, computers, flat screens TVs and phones than we did last year.

A study by the Consumer Electronics Association (via the Chicago Tribunecites experts who say overall holiday spending will get a 11% uptick from 2011, which works out to about $1,634 per consumer. A big chunk of that will be spent on gifts, $842-worth, a 9% increase from last year.

But consumers will only spend about $252 on electronics, in comparison to $246 in 2011. Sort of like a collective shrug, despite the fact that it seems we can’t turn a corner without running into another announcement about a hot new product.

Because we’re feeling nice and confident, we’re going to spread that feeling of goodwill to our loved ones and translate it by way of gifts. That’s what the holidays are all about, right?

Actually, the holidays are about material possessions, according to the CEA survey: “tablet computer” was at the top of adults’ holiday gift wish list, ahead of “money” and even “peace/happiness.”

What a wonderful time of the year, right? May you all receive tablets before world peace is achieved.

Holiday spending seen rising with gadget flat [Chicago Tribune]