Mint.com and Consumer Electronic Association Find Consumers have 'Tech Lust'

Consumer Electronic Spending Rebounds, Surpasses Pre-Recession Levels - Good Sign for Recent CES Launches

Jan 11, 2010, 15:16 ET from Intuit Inc.

MOUNTAIN VIEW, Calif., Jan. 11 /PRNewswire/ -- Mint.com, a leading online personal finance service from Intuit Inc. (Nasdaq: INTU), partnered with the Consumer Electronic Association (CEA) to analyze consumer electronic spending. The CEA provided the top ten products people wanted this past holiday season, along with the top ten purchased. Mint.com looked at the anonymous, aggregate spending of its 2 million users. The report can be found on the award-winning MintLife blog at: www.mint.com/blog/.

"CES was teeming with new products that have people excited about what will be the next must-have consumer electronic products, from 3D televisions, to super thin flat screens, smart phones and e-readers," said Aaron Patzer, vice president and general manager of the Intuit Personal Finance Group. "We found a lot of compelling data to support high hopes for the sale of the winning products from this year's show, because the category in generally has sold incredibly well."

According to the CEA, a notebook/laptop was the most desired product for the 2009 holiday season, though portable MP3/digital media players were the most frequently purchased. In addition, the report found:

  • The Consumer Electronics category is hotter this year than last
  • Holiday shopping in general was down in 2009, compared to 2008 (down three percent) and even more when compared to the pre-recession 2007 season (down 18 percent)
  • Consumers are spending more money, more frequently, on consumer electronics

The CEA partnership is the latest in a growing data program for Mint.com.

About Mint.com

Mint.com, from the maker of Quicken, is a leading online personal finance service from Intuit Inc., providing more than 1.7 million users a fresh, easy and intelligent way to manage their money. And it's free. Launched in September 2007, Mint.com has quickly grown to track nearly $200 billion in transactions and $50 billion in assets and has identified more than $300 million in potential savings for its users. Mint.com's innovation is in applying advanced technology to deliver breakthrough ease-of-use. Using patent-pending technology and proprietary algorithms, Mint.com allows users to see all their financial accounts in one place, makes it easy to set and keep to budgets, and helps identify money saving ideas. For more information on Mint.com's free online personal finance service, visit http://www.mint.com.

About Intuit Inc.

Intuit Inc. is a leading provider of business and financial management solutions for small and mid-sized businesses; financial institutions, including banks and credit unions; consumers and accounting professionals. Its flagship products and services, including QuickBooks®, Quicken® and TurboTax®, simplify small business management and payroll processing, personal finance, and tax preparation and filing. ProSeries® and Lacerte® are Intuit's leading tax preparation offerings for professional accountants. The company's financial institutions division, anchored by Digital Insight, provides on-demand banking services to help banks and credit unions serve businesses and consumers with innovative solutions.

Founded in 1983, Intuit had annual revenue of $3.2 billion in its fiscal year 2009. The company has approximately 7,800 employees with major offices in the United States, Canada, the United Kingdom, India and other locations. More information can be found at www.intuit.com.

SOURCE Intuit Inc.



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