Consumer confidence is a somewhat abstract concept, but it’s essentially just what it sounds like. If consumers are confident, it means they’re willing to spend more instead of squireling their money away in case of disaster. If they’re not, they don’t spend.
The technology industry, which includes the digital camera market, got some great news in the most recent consumer confidence report. Levels are at 93.6, which is the second highest they’ve ever been. That means more cameras are being sold, companies have more money to work with and that we’ll hopefully see some interesting things come down the line because of it.
“Technology continues to be the leading category for shoppers during the holiday season and this year was no exception,” says Consumer Electronic Agency chief economist Shawn DuBravac. “Looking ahead to 2012, consumer tech remains well positioned compared to all other durable goods categories.”