Stereo Headphones Sales Growth with Smartphone Proliferation
Celebrity Endorsements Help Boost Sales of Stereo Headphones, According to The NPD Group - Celebrity endorsements are usually big sales drivers in the fashion and fragrance worlds, but some big names are also hoping to draw some big bucks for consumer technology, specifically for stereo headphones.
According to leading market research company The NPD Group’s new study Headphones: Ownership and Application endorsements are extremely/very important to nearly 30 percent of consumers when deciding what headphones to buy. Music artist endorsements ranked highest among consumers purchasing headphones under $20 and over $100, and sales of headphones over $100 are growing. According to NPD’s Retail Tracking Service, headphones $100 or more went from around 2 percent of the headphone market in 2009 to 3.5 percent of the market in 2010. Overall stereo headphone sales increased 17 percent in units and 30 percent in dollars in 2010.
“The headphone market has seen great unit and revenue growth as the market for portable audio continues to expand due to smartphone proliferation,” said Ross Rubin, executive director of industry analysis at The NPD Group. “Low barriers to entry are attracting many boutique brands, though, which are quickly creating a crowded field.”
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