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People Alter Their Budgets to Accommodate Gadget Purchases

Almost 70 percent of you said that you would hold off buying electronics this holiday season because of the economy. Well the Consumer Electronics Association predicts that holiday spending will drop by 14 percent this year, but in terms of gadgets, people are willing to cut other expenses — like going to the movies, or a gym membership — just so they can pick up the latest cell phone or notebook.


"These are no longer just luxury items or products that are fun to own. They really are used in a variety of ways to enhance communications, increase productivity, or for education," said Tim Herbert, the senior director of market research for the CEA. "Also, from a gift-giving standpoint, there is still a tremendous 'wow' factor with electronics."

Ain't that the truth! I mean can you imagine a Christmas without some sort of gadget that requires a user-manual and batteries?

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