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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.
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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