The Consumer Electronics Association recently released a timely study that predicts the hottest holiday gifts – and no surprise, it points to electronics and gadgets. Their 17th annual Holiday Purchase Patterns study comprised of 1,000+ adults indicates that one-third of all shoppers will make a consumer electronics purchase during the holiday season, averaging $232.
That’s a lot of gadgets, and it’s a chance for radio to share in the holiday joy.
First, stations should be working with local retailers to put together promotions now. Smaller outfits that hope to out-hustle and out-service Best Buy, Target, and Walmart are great candidates. Remember the days when morning shows would “test drive” a different gadget everyday? Now with the help of webcams and video podcasts, personalities can showcase some of the hottest new toys. Facebook and Twitter are also great tools to generate recommendations for stores and their electronic toys.
Second, gadgets make great contest fodder and they can be inexpensive. Walmart has their “Amazing Walmart Electronics Event” offering a Vizio 26” HDTV for under $200, while Target now sells the iPhone and is cutting prices on the iPod Touch. Contests where listeners can “Pick A Gadget” can be economical, while driving lots of website visits and creating tactical listening occasions.
Third, the CEA study indicates that while the desire is in place for a lot of electronics sales, consumers are still very price conscious. There’s another opportunity for stations to offer discounts, and even mobile coupons that listeners can take to local stores to get that all-important price break.
Fourth, it is important to know the gadget hierarchy. And in fact, specifically what people desire this year. Peace and happiness, of course, tops the general holiday wish list for adults, but notebooks/laptops and iPads are next in line. And while family and health are very important, so are eReaders and video game systems. When you look at the CEA's electronics “wish list” on the right, you can see the pecking order that will drive holiday sales this season.
Finally, consumer electronics is a big-time area that has only become more important during the past decade. Gadgets are cool, and people are absolutely focused on them.
Understanding this space is an important component of becoming an expert in media in this new millennium. That’s why it is critical to attend conventions like the CES in Vegas in January as we did last year, and will again in 2011.
Gary has been especially critical of radio’s attempts to push for legislation that would mandate FM chips in cell phones. He has a unique vision of the future and incredible perspective, so we hope you can join us in Baltimore for the Summit.
What’s on your holiday wish list?