Americans plan to spend more than $75 billion on electronics this holiday season
SAN FRANCISCO – Nov. 16, 2016 – If you’re one of the more than 50 percent of Americans planning to purchase an electronic gift this holiday season, chances are a tablet will be at the top of the list, according to a national survey byIf you’re one of the more than 50 percent of Americans planning to purchase an electronic gift this holiday season, chances are a tablet will be at the top of the list, according to a national survey by SquareTrade®, the highly rated protection plan provider. the highly rated protection plan provider.1
SquareTrade’s survey reveals that Americans expect to spend an average of $585 each on electronic gifts this year, with women spending $530 on average and men spending $638 on average.
While the poll on which electronic gift Americans want to receive reveals that:
- 29 percent want a tablet
- 24 percent want a smartphone
- 22 percent want a TV
The poll on which electronics gifts Americans plan to give reveals that:
- 37 percent plan to give a tablet
- 30 percent plan to give headphones
- 28 percent plan to give a gaming console
“While tablets were the overall top gift choice, surprisingly, we found that 18-24 year olds would actually prefer to receive headphones over any other gadget,” said Steve Abernethy, executive chairman at SquareTrade. “It was also interesting to see that men report they are more likely to purchase an electronic gift and spend $108 more on average than women.”
Regardless of what you purchase, it’s important to remember that 57 percent of Americans report accidentally damaging electronic devices and spending $334 on average for repairs or replacements. If you’re part of the 80 percent of Americans considering a protection plan, go ahead and invest now so you can avoid heavier costs later.
Finally, if you’re not planning to purchase an electronic gift this year, don’t fret! SquareTrade found that 77 percent of people believe it’s the thought that counts when it comes to gift giving.
SquareTrade is a highly rated protection plan trusted by millions of happy customers for its fast and exceptional service. SquareTrade protects mobile devices, laptops and tablets, and other consumer electronics and appliances from malfunctions, accidental damage and life’s frequent mishaps. Unlike old-fashioned warranties, SquareTrade is designed for today’s consumer and uses innovative technology to deliver a zero hassle claims process. SquareTrade has more than 230,000 fans on Facebook, consistently wins industry awards and receives thousands of 5-star reviews for its legendary customer service. Top retailers around the world offer SquareTrade, achieving significant sales growth and happier customers. Privately held, SquareTrade’s investors include Bain Capital and Bain Capital Ventures. SquareTrade is headquartered in San Francisco and London. For more information, go to www.squaretrade.com.