So, what were the top selling consumer electronics products over the recent US Thanksgiving holiday period?
According to The Consumer Technology Association the #1 product was a TV with demand for new 4K UHD TV’s Samsung and LG TV’s “going through the roof” according to several retailers.
Deep discounts on 4K TVs, special bundles on gaming consoles, and heavy promotions for new virtual reality headsets also drove sales
The CTA said that TVs ran away with the No. 1 slot for tech purchases for the four-day weekend, followed by tablets, smartphones and gaming consoles.
While specific numbers have yet to be released, retailer Target alone reported more than 3,200 TVs were sold each minute during its first hour of Black Friday sales. The CTA had previously predicted that as many as 4.5 million 4K Ultra High-Def (UHD) TVs would ship during the US holiday weekend.
Walmart-the nation’s No. 1 retailer-listed TVs as its No. 1 selling product in the electronics category as well.
“While perennial Black Friday tech strongholds such as televisions, videogame consoles and laptops dominated shoppers’ baskets, it was also a breakout year for emerging tech,” said Shawn DuBravac, chief economist for CTA, in a statement. “These nascent devices, including digital assistant devices, virtual reality and drones, landed on the front page of retailer’s Black Friday ads. for the first time this year.”
Adobe Digital Insights-the research arm of the software company-reported that on Black Friday alone, retailers enjoyed $3.34 billion in online sales-up 21.6% year over year-with Samsung 4K TVs, LG TVs and the Xbox One gaming system enjoying three of the top five grossing spots in the electronics category. Adobe reported that the PlayStation VR was among the first electronics products that ran out of stock among most retailers.
The TV category saw sets discounted an average of 22.5%, second only to tablets, Adobe reported. “Appliances and TVs launched in 2016 were also seeing higher discounts than comparable products last year (4.2% and 5.8%, respectively), as well as video game consoles (3.8%),” the company said in a statement.