Consumer Tech Spending Remains Steady
While the prices of technology keep dropping, American consumers continue to spend approximately 5% of their annual budget on technology products and services.
Wired Magazine has analyzed data from the U.S. Bureau of Labor Statistics to see where our money is going. The $2,194 spent by the average consumer is roughly 50% more than we spent on health insurance and slightly more than is spent on apparel, but less than half of what we spend on food.
While the per-capita percentage remains the same as it has for the past decade, Wired points out that there has been a shift in what we’re spending it on. We are spending less on hardware (PCs and televisions) but more on services (Internet access and Cable).
The visualization below, courtesy of Wired, provides an overview of current spending levels and the directional change of the past decade.
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