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US consumer tech spend to decline for second year in a row

Article by Sara Lebow  |  Jan 13, 2023
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US consumer tech spend to decline for second year in a row
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Topics
Consumer Electronics
Technology
United States

For more insights and key statistics on the biggest trends in today’s most disruptive industries, subscribe to our Chart of the Day newsletter.

US consumers spent $497 billion on tech last year, according to the Consumer Technology Association. That’s a $15 billion drop from 2021. This year, spending will decline again, by $12 billion.

US Consumer Technology Spending, 2018-2023 (billions)
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Beyond the chart: US electronics retail sales decreased by about 5% this past holiday season, per Mastercard SpendingPulse data. The pandemic pulled forward demand for big-ticket tech purchases into 2021, and consumers are spending less in this category as they transition out of remote work and learning.

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