Nearly half of all computer and consumer electronics sales happen online. As consumer habits continue to change, what can consumer electronics brands expect as the industry continues to grow and consumer habits continue to change? If your brand falls into this category, how can you ensure you’re staying ahead of a rapidly evolving marketplace with successful conversion-driving strategies? In this infographic, dive into the latest electronics industry stats and trends, how the coronavirus pandemic has impacted this industry, and tips and strategies for electronics and technology brands.
The State of the Electronics Industry
Top-of-Mind Trends & Initiatives for Marketers at Electronics Brands
- Paid search advertising: 69.2%
- Conversion rate optimization & SEO: 61.5%
- Attribution solutions: 53.9%
- Social media advertising: 46.2%
- Video marketing: 30.8%
- Biggest priorities for decision-makers are electronics brands:
- Top initiatives for electronics brands with $100MM+ in annual revenue
- Cookieless data
- Automation, AI, & machine learning
Electronics Ecommerce Revenue
- Ecommerce sales make up 43.6% of all consumer electronics revenue
- US consumer electronics revenue will reach $881.7 billion by 2025
- Products that make up the biggest share of electronics revenue:
- TVs/other multimedia
- Global consumer electronics revenue surpassed $1 trillion for the first time in 2021
- US consumer electronics ecommerce revenue (in billions):
- 2022: $131.5
- 2023: $139.8
- 2024: $148.2
- 2025: $156.8
- In 2025, US consumer electronics ecommerce revenue will be 53.8% higher than it was in 2019!
- 31% of global consumers say the price of electronics and tech products went up in 2022
- Electronic chip costs rose 10-20% in 2022 compared to 2021
- ROI Revolution, 2022 State of Digital Marketing Survey.
- Statista, Consumer Electronics – Worldwide.
- Statista, Revenue of the consumer electronics market worldwide from 2018 to 2028.
- Statista, Consumer electronics retail e-commerce revenue in the United States from 2017 to 2027.
- YouGov, Global: Are consumers noticing a significant increase in prices of tech and telecom services?
- CNBC, Electronics are set to get even more expensive as chip giants hike their prices.