US Consumer Technology Spending Expands in August

Despite the uncertainty expressed at the end of July, consumers' self-reported tech spending expanded significantly according to August interviewing. In the latest round of results from IDC's Consumer Purchase & Subscription Index survey, consumer tech spending blew past the April benchmark as COVID-19 concern stabilized and optimism won out. Once again, consumer spend on devices led the way as respondents reported a 17% increase in their device expenditures, up 22% over the April baseline. Outlays with services rose 2%. Most devices saw gains, with video game consoles, phone accessories, and PCs/tablets as particularly strong performers.