A new study from Consumer Reports shows that the average American spends $1,800 per year on their personal electronics.
That’s a lot of electronics, but it’s still far below the $5,000 average household spend on other household items like books, cars, and even houseplants.
The Consumer Reports study was conducted from January to May of 2018 and asked a total of 6,000 people to spend $1 on personal electronics, and 1,000 other items.
The survey was not designed to determine if spending $1 per year is actually a good idea, but the results are still interesting.
The results show that the majority of respondents say they have no desire to buy more expensive electronics, with only about a quarter saying they would purchase a $100,000 device if they could afford it.
More interestingly, about half of respondents said they wouldn’t spend more than $5 per year if they couldn’t afford it, while half of those said they would spend $10 per year or less.
Consumer Reports’ findings were published online today by The Verge, but I reached out to Consumer Reports to find out more about what the study found.
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The Verge’s Emily Crocker reports on how Consumer Reports used data from its survey to calculate a report card for the consumer, who was then asked to rate each of their personal gadgets on a scale from 0 to 10.
Consumer Research uses data from the Consumer Sentiment Analysis and Tracking survey to measure consumer sentiment.
Consumer Sentiments are collected via surveys that ask consumers to rate items in a list of potential categories, with the items rated by respondents rated the most important, or “most important to you.”
Consumer Sentimental analysis is used to analyze consumer sentiment on a variety of consumer topics.
Consumer survey results are published by Consumer Reports every quarter.