NPD Sees Tech Sales Falling

Consumer technology sales will decline 5% this year, after rising 9% in 2021 to $127 billion, said NPD Thursday. The researcher expects declines of 4% in 2023 and 1% in 2024. Near term, NPD expects “slowing demand from the extraordinary rates we have been seeing over the last two years” due to COVID-19 pandemic lifestyle changes, said analyst Stephen Baker.