Along with the slow economy in the US came slow sales of all sorts of consumer goods including electronics. According to the NPD Groupconsumer electronics sales rebounded to some degree in May. NPD says that sales in May 2008 were up more than 7% in total compared to May of 2007.
The growth in sales was attributed to six top money generating categories. The categories include (in order) notebook computers sold $794.6 million, LCD TVs sold $792.4 million, digital point and shoot cameras sold $310.4 million, portable digital players sold $250 million, ink jet cartridges sold $274.4 million and desktop computers sold $244.4 million.
"The stimulus checks played a part in the positive results we saw in May, but we still have a lot of ground to make up," said Stephen Baker, vice president of industry analysis for NPD. "The real test will be in the third and fourth quarters. We've reached a point of market saturation in some of the biggest growth categories, and as a result, regardless of economic conditions, growth through the key back to school and holiday seasons will be challenging. Retailers and manufacturers will have to provide more compelling products, promotions, and pricing as we enter the critical second half of the year if they are going to deliver meaningful growth in 2008."
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